PVA TePla founder Peter Abel retires

PVA TePla founder Peter Abel retires

• Sale of the remaining share package amounting to around 14 percent of the company's shares

• The Management Board and Supervisory Board  thanks Mr. Abel for his life's work as founder, his many years as Chairman of the Management Board and in recent years as a consultant.
  
  Peter Abel, founder and long-standing Chairman of the Management Board of PVA TePla, has retired from the company as of February 28, 2023. He will end his advisory role, which he has fulfilled since leaving the Management Board in 2017, when he reaches the age of 70 and has sold his remaining share package of approximately 14 percent. As of now 100 percent of the group´s shares are free float.
  
  Peter Abel laid the foundation for today's PVA TePla AG in 1991 with a management buy-out led by him. The company, which initially had a workforce of around fifty, focused on the construction of process equipment for the production and refinement of materials under high temperature, vacuum and pressure. With, among other things, the acquisition of an offshoot of Leybold Systems in 1999, crystal growing for microelectronics and, eight years later, ultrasonic microscopy were added as further significant new business areas. Then last year, he paved the way for the acquisition of silicon carbide coating equipment specialist MPA Industrie of France, another company operating in fast-growing global markets such as aerospace and semiconductors.
  
  "We thank Peter Abel for his always forward-looking mind and trustful cooperation over the past years. He has shaped the company with his entrepreneurial spirit and deep understanding of technology over three decades. Today, PVA TePla is excellently positioned globally to benefit from the growth of the megatrends of digitalization, renewable energies and electromobility," explains Alexander von Witzleben, Chairman of the Supervisory Board of PVA TePla AG. "We wish Peter Abel the very best."