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constructii  Ceo Juergen Von Schwerin To Leave constructii

IRS has an order backlog in excess of € 1,0 Billion and produces various types of railcars for the leading European rail operators and leasing companies. IRS Group total revenues increased from € 310 Mio in 2007 to € 380 Mio in 2008.

Since November 2001, Mr. von Schwerin has served as Chief Financial Officer and Senior Vice President of SBS Broadcasting Group where he was part of the management team that built SBS into one of Europe’s largest broadcasting companies. The company operates three divisions which consist of six main business units: Rail Manufacturing (Astra Vagoane Arad S. A. , Meva S. A. From 1992 to 2001, Mr. von Schwerin served as Financial Director for MGM Media Gruppe Munich and held several management positions at ProSiebenSat. 1 in Germany. Luxembourg - March 31, 2009 - Juergen von Schwerin has resigned as CEO of International Railway Systems and will leave the group effective March 31st, 2009 following a major restructuring of the group and a concentration of the corporate functions in Bucharest. From 1986 to 1992, while at Deutsche Bank, Mr. von Schwerin occupied various positions including Financial Analyst of Corporate Finance and Vice President of Project Finance in Germany and Australia.

International Railway Systems (IRS), headquartered in Luxemburg, is Europe’s largest freight railway wagons manufacturer and a leading producer of bogie and forged parts for the railway industry. He will be replaced by Cristian Burci, President and majority shareholder of IRS.

During his tenure since September 2007 IRS, Europe’s largest manufacturer of railcars, has substantially increased its production and financial performance. IRS has just recently initiated a staff reduction by 1,200 workers in its railcar production segment as a consequence of the demand downturn. While at SBS, he oversaw the acquisition of the company by KKR and Permira for €2. 1 billion in 2005 and its recent sale to ProSiebenSat. 1 Media AG for €3. 3 billion. IRS increased its production by 13 % and produced 4,371 railcars in 2008 as compared to 3,878 in 2007. Turnu Severin, Romvag Caracal S. A. - rail car production and MSV Metal Studenka S. A. - forged parts manufacturer), Transport Fleet Management (Servtrans Invest SA - railway transport) and Marine (SEVERNAV - shipyard).

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