Joan Casaponsa is the New Executive Chairman of Indo

Starting on 30 April 2008, Joan Casaponsa will take over as executive chairman of Indo. The new executive chairman will also be the chairman of the Board of Directors, a position that has been held to date by Jorge Cottet Sebile, who is retiring as chairman for personal reasons and because of his age. The Board of Directors has unanimously named Jorge Cottet Sebile honorary president of the company.

Joan Casaponsa's appointment will mark the start of a new phase in the company's development. He will spearhead a strategic plan to focus on the business segments with the highest market value. The aim of the plan is to increase competitiveness by expanding on policies to boost capacity and reduce production costs. It is these policies that have allowed the company to open plants in Southeast Asia. The plan will strengthen the lines of R&D and innovation, which are providing the company with patents and products with high added value, and will also focus on corporate growth through increased involvement in the more than 80 markets where Indo currently operates.

To finance all the resources required by this strategic plan, the company will carry out a capital increase of approximately €16 million.