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Per-Erik Velin leaves the CEO position

Press Release   •   Jan 22, 2016 09:09 GMT

Malmo January 22, 2016

Deflamo AB (publ) is in negotiations with an international industry group on a strategic cooperation within the plastics area (see separate press release dated 22 January 2016). A future cooperation will bring an impact on the company’s working methods and organization and against this background the CEO for Deflamo, Per-Erik Velin, has accepted another engagement opportunity and thereby announced his resignation with April 30 as the final date.

"The Board of Deflamo has taken a wise decision on direction which I completely support and have been pushing forward together with them. It became apparent at an early stage that this could affect my role in the longer perspective and I started to consider alternatives. When I now received an attractive offer, I therefore chose to accept. This change will thereby take place somewhat earlier in the process then we had expected, but I will do my utmost to support Deflamo in the partner discussions until the end of April when I leave my position", comments CEO Per-Erik Velin.

"We are extremely pleased with Per-Erik's achievements as CEO for Deflamo. He has been a driving factor in the important work of identifying future direction and strategy. Per-Erik’s involvement has also been crucial to the process which has now led up to ongoing negotiations with a major industrial player. In this respect nothing is of course concluded until final agreements have been entered into, but we are so far very pleased with how the discussions are progressing", says Chairman Jan-Ove Aspeblad.

Per-Erik Velin remains in his position until April 30, 2016. Activities to find a successor have been initiated whereby it is noted that the requirements profile will be affected by a possible strategic partnership.

For further information please contact:

Per-Erik Velin, CEO, Deflamo AB (publ) 
Mobile: +46 (0)70 67 42 185 

Jan Blomquist, member of the board
Mobile: +46 (0)70-486 17 71

About Deflamo

Deflamo is a specialty chemical company that develops, produces and sells environmentally superior flame retardants under the product name Apyrum.

Apyrum is a patented, environmentally friendly and biodegradable alternative to dangerous flame retardants that includes toxic substances such as bromine, chlorine and antimony, substances that are harmful to the environment and for human and nature health. With Apyrum our customers get:

• Superior environmental properties
• A competitive price- and performance ratio, even compared to traditional flame retardants
• Access to Deflamo’s application knowledge and testing capabilities, which helps the customer to reduce development costs and time to market

We mainly focus on replacing conventional flame retardants in plastics and other polymer materials, but we also cooperate with customers in several different areas such as applications for paper, wood, foam etc. A central part of Deflamo’s offer is to assist customers with the formulation, testing and implementation of flame retardant products with Apyrum. This contributes to that our customers may develop new products with a healthy environmental profile both cheaper and faster.

Deflamo AB is a Swedish public limited liability company, listed on Nasdaq First North. Avanza is the company's Certified Advisor.

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