November 28, 2007 09:59 ET

Dr. Paul Breddels Appointed as New CEO of OTB Group B.V.

Founder and Current CEO Ron Kok Takes on Position as President of OTB Group B.V. and Chairman of Its Technical Advisory Board

Share Issue of Euro 20 Million Fully Underwritten by Current Shareholders and Velocity Capital

EINDHOVEN, THE NETHERLANDS--(Marketwire - November 28, 2007) - OTB Group of Eindhoven, the Netherlands, a leading company in the design, engineering, development and manufacturing of tailor made (inline) production equipment and related process technology, announces the appointment of Dr. Paul Breddels (51) as its new CEO. Dr. Paul Breddels will join OTB as per December 1st, 2007.

Until recently Paul Breddels was President Liquid Crystal Division of Merck KGaA in Darmstadt, Germany. Prior to this position, Breddels had several senior management positions within the Merck group in Asia. Mr. Breddels has a Master's in Physics and a PhD (Utrecht University) on large band gap semiconductors with organic dyes for solar energy applications. Amongst others Paul Breddels is a member of the Advisory Board of the Holst Centre, an internationally recognized and leading R&D centre initiated by TNO and IMEC, and a member of the industrial board of Plastic Electronics Foundation.

Ron Kok (61), founder and current CEO of OTB Group B.V., will assume the position as President of OTB Group B.V. and Chairman of the Technical Advisory Board. Leo van Doorne, currently Executive Vice-President of OTB Group, will assume a non-executive position at OTB. He will be appointed as Chairman of the Investment Committee of OTB Group B.V.

OTB Group, with its subsidiaries OTB Solar, OTB Display and OTB Engineering, has experienced a successful and fast growth and it expects an accelerated growth in 2008 and 2009. Ron Kok: "Paul Breddels has the experience and capabilities to manage and lead this growing business. Furthermore he has an extensive network in industries and regions important to OTB. We are delighted to get Paul on board and are convinced that he will successfully lead the company into its next phase." Paul Breddels explains: "OTB is a unique company with an impressive technology base. I very much look forward to the challenge of realizing the tremendous potential of the group."

OTB Group successfully raised Euro 20 million of equity / growth capital

A new equity round of Euro 20 million in order to accelerate growth was successfully underwritten by OTB Group's current shareholders and by the private equity company Velocity Capital. As a result of the share issue, Velocity Capital acquires an equity stake of almost 10% in OTB Group B.V. The share issue will further strengthen OTB's financial basis and allow the company to execute its aggressive growth plans.

PDF version of the press release (

Contact Information

  • For additional information, please contact:
    Mr. S.J. Herrema
    (Chief Financial Officer)
    Tel:(+31) 40 2581 525
    E-mail: Email Contact