Press Release

Changes in management

26 Aug 2016

Erik Eberhardson, founder and head of business development, has expressed a wish to reduce his operational engagement in the company in order to take part also in other business activities.

Mr. Eberhardson will therefore cede his role as head of business development and will no longer be part of Ferronordic Machines’ executive management. However, Mr. Eberhardson will continue to support the development of the company in his role as vice chairman of the Board, in particular with regard to long-term strategy and contacts with certain important business partners. Mr. Eberhardson also remains one of the largest shareholders in Ferronordic Machines.

About Ferronordic Machines

Ferronordic Machines is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. It is also the official Russian distributor of Dressta. In certain regions of Russia, Ferronordic Machines has also been appointed aftermarket dealer for Volvo and Renault Trucks and dealer for Volvo Penta. Ferronordic Machines began its operations in 2010 and has since then expanded rapidly across Russia. The company is well established in all federal districts with almost 70 outlets and approximately 750 employees. The vision of Ferronordic Machines is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines are listed on NASDAQ OMX First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.

For more information, please contact:

Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or

Ferronordic Machines discloses the information herein pursuant to the Securities Markets Act and/or the Financial Instruments Act. The information was submitted for publication on 26 August 2016, 07:45 CET

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