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Heald Named CEO at Baldwin, Puehringer Named VP of Operations

Press release from the issuing company

SHELTON, Conn.--Nov. 14, 2001--Baldwin Technology Company, Inc. announced that at a Board of Directors meeting held yesterday, John T. Heald, Jr., was elected Chief Executive Officer of the Company. Mr. Heald has served as a Director of the Company since 1996. In March, 2001, he was elected President and Chief Operating Officer of the Company. Previously, he was Executive Vice President of Sappi Fine Paper Company, an international producer of fine papers from 1999 through 2000. Prior to that time, Mr. Heald held various management positions for twenty-two years at Union Camp Corporation, a manufacturer of paper, packaging, wood products and chemicals, including Executive Vice President of the Packaging Group and Senior Vice President of the Converting Group. He is a director of American Nutrition, Inc., a pet food manufacturing company. Mr. Gerald A. Nathe, the former Chief Executive Officer of the Company, will continue to serve as the Chairman of the Company. Also, Karl Stephan Puehringer has joined the Company as Vice President of Operations. Mr. Puehringer will maintain an office at the Augsburg, Germany facilities and will report directly to John T. Heald, Jr., President and Chief Executive Officer. Prior to joining Baldwin, Mr. Puehringer served as a Manager at A.T. Kearney in Munich where he was responsible for project management. Previously, he was President and a Director of Voest-Alpine MCE Indonesia and Managing Director of Voest-Alpine Ice Mexico. Karl holds a Bachelors degree in Mechanical Engineering from Technical College in Linz, Austria and a Masters degree in Technical Physics from Technical University in Vienna, Austria. He also has a Masters of Science in Management from Stanford University Graduate School of Business. At its meeting Tuesday, the Board of Directors also elected the following officers: Gerald A. Nathe, Chairman; John T. Heald, Jr., President and Chief Executive Officer; Vijay C. Tharani, Vice President, Chief Financial Officer and Treasurer; and Peter E. Anselmo, Vice President. Baldwin Technology Company, Inc. is the leading international manufacturer of accessory and control equipment for the printing industry.

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