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Pursuit Dynamics appoints Hagen Gehringer as MD of public health and safety business

Published: 03:50 12 Aug 2011 EDT

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Fluid technology firm Pursuit Dynamics (LON:PDX) has appointed Hagen Gehringer as the new managing director of its public health and safety business, it emerged this morning.

Gehringer is joining the company from Kaercher Futuretech GmbH, a manufacturer of high pressure cleaning equipment. Back in April, Kaercher and PDX signed a pact to jointly develop, produce and market civilian and military decontamination and disinfection products.

The company said that Gehringer is “perfectly placed” to head this line of business for PDX given his experience as managing director of Kaercher Futuretech.

“We are delighted that Dr. Hagen Gehringer has joined PDX. His skills and experience make him an excellent fit for the Company and we are looking forward to working with him,” said chief executive of Pursuit Dynamics Roel Pieper.

Gehringer will be responsible for the Kaercher Futuretech partnership and the PDX's joint venture with the UK National Nuclear Laboratory.

PDX added that it will form new legal entity called PDX Ventures AG. The new business unit will be based in Schaffhausen, Switzerland and headed by managing director Jonathan Bailey.

Earlier this month, Pursuit told investors that its performance had been in line with expectations.

The statement was issued in response to a sharp decline in the company’s share price, which dropped from 325 pence in late July to 160 pence this Monday. Shares in Pursuit have since rebounded to 201 pence, giving it a market cap of £151 million.

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