Fresenius today announced that the conversion of Fresenius AG into a European Company (Societas Europaea) took effect on July 13, 2007 with the entry of Fresenius SE in the commercial register of the Bad Homburg municipal court. The Company's Supervisory Board will continue to have twelve members, divided equally between employee and shareholder representatives.
For the first time, employees from other European countries outside of Germany will have Board representation with one member representing Austrian employees and another representing Italian employees. The six shareholder representatives for the new Supervisory Board were already appointed as part of the December 4, 2006 Extraordinary General Meeting that had approved the statutes of Fresenius SE. During that Meeting, a vast majority of 99.99 percent of the ordinary share capital represented had approved the conversion.
An SE is a public limitedliability company under European law. The SE particularly facilitates an open and international corporate culture while reflecting Fresenius' global orientation. With the exception of the composition of the Supervisory Board, the conversion will have no effect on the Company's management structure.
# # #
Fresenius is a health care group with international operations, providing products and services for dialysis, hospital and outpatient medical care. In 2006 group sales were about € 10.8 billion. On December 31, 2006 the Fresenius Group had 107,348 employees worldwide.