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| Corporation, Sulzer Pumps |
| Sulzer Agreed to Acquire PCC Pump Activities: Johnston, Crown, and Paco Pumps (24/09/2004, Media Release) |
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On September 23, 2004, Sulzer agreed to acquire the US pump assets of Precision Castparts Corp. (PCC) as well as all shares of its Chinese pump company. The purchase price is USD 36 million (~CHF 45 million). The main locations of these pump activities are Houston, Texas, USA and Wuxi, China. In the fiscal year ending March 2004, the turnover of the pump activities was USD 98 million (~CHF 120 million) with around 475 employees in the USA and China. The acquisition complements the existing Sulzer Pumps product portfolio and strengthens Sulzer’s position in the power, process, and water segments. The acquisition includes ten service centers, located throughout North America.
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| Sales up 13% over prior year, net income 32% higher (25/08/2004, Media Release) |
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Against a backdrop of generally friendlier conditions, Sulzer posted sales of CHF 977.6 million for the first half of 2004. The sales figure is 13.0% higher than the level achieved in the prior-year period (adjusted ) +10.1%). Net income was CHF 32.5 million (prior year: CHF 24.6 million). Earnings growth was driven by the core divisions, which boosted operating income before goodwill amortization (EBITA) by 40.1% to CHF 62.5 million.
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| Upward Trend Continues: Order Intake 9% Over Previous Year (15/07/2004, Media Release) |
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Order intake at Sulzer rose to CHF 1095 million in the first half of 2004. Compared with the previous year, this represents a respectable growth rate of 9% in nominal terms (adjusted , 7%). All core divisions generated good order figures; consistent focus on related markets and a strong competitive position provided substantial support for this growth. Sulzer expects the positive trend to continue over the current year.
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| Corporation, Sulzer Pumps |
| Sulzer Awarded Large Petrobras Project (29/06/2004, Media Release) |
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In June 2004, Sulzer Pumps received a significant order from Petrobras. This contract involves the delivery of highly engineered centrifugal pumps for a platform offshore Brazil and includes an assisted-operation and maintenance service contract for a period of eight years. The platform is expected to start operations in April 2006. When fully operational, it will collect and transport 40% of the Brazilian oil production. Sulzer is pleased to be selected as the long-term partner for pumping solutions on this crucial offshore facility of Petrobras.
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| Corporation, Sulzer Metco |
| Sulzer Continues To Strengthen Its Thermal Coatings Business (18/05/2004, Media Release) |
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Effective May 1, 2004, Sulzer Ltd acquires OSU Maschinenbau GmbH, based in Duisburg, Germany. This acquisition will enable Sulzer Metco to increase its product range in thermal coatings, which will now include arc spray equipment. The OSU Maschinenbau product portfolio, which until now has primarily been available in Europe, will benefit from Sulzer Metco's global distribution network. OSU Maschinenbau GmbH has 26 employees and generated sales of CHF 6 million (EUR 4 million) in the year 2003.
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| Sulzer Again Pays Dividend Of CHF 6 Per Share (29/04/2004, Media Release) |
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At today’s 90th annual general meeting of Sulzer Ltd, all board proposals were approved by the shareholders, including a dividend of CHF 6 per share (as in the prior year). Dr. Luciano Respini was elected to the Sulzer Board of Directors, while existing board members Louis Hughes and Dr. Hans Hubert Lienhard were reelected. Fred Kindle stepped down from the board of directors. Board Chairman Dr. Leonardi Vannotti emphasized the good operating performance of the core divisions, which recorded significant increases in operating earnings capacity in 2003 and which saw order intake in the first quarter of 2004 rise by 15%.
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| BT Pension Scheme owns over 5% of Sulzer Ltd (28/04/2004, Media Release) |
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In compliance with the federal law on stock exchanges and stock brokering (Bundesgesetz über die Börsen und den Effektenhandel), we were informed by BriTel Fund Trustees Limited, The Trustees of BT Pension Scheme on April 27, 2004, that Hermes Investment Management BT Pension Scheme and Hermes Focus Asset Management Europe Ltd together hold participations above 5% in Sulzer Ltd. Both companies are owned by BT Pension Scheme. According to its own accounts, BT Pension Scheme holds a total of 182,419 shares of Sulzer AG. This is equivalent to 5.014% of the voting rights.
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| Order intake for first quarter at a substantial 14% over prior year (26/04/2004, Media Release) |
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In the first quarter of 2004, Sulzer recorded a high order intake: at CHF 548 million, new orders were nominally 14% up on the previous year and 9% higher when adjusted for currency and acquisitions effects. The Sulzer Metco division staged a considerable recovery. Sulzer Pumps also managed to improve substantially on last year's already high volume. Sulzer Chemtech again reached a very satisfactory level of new orders. Despite a continued difficult market situation, Sulzer Turbomachinery Services stabilized business at the prior year level. Sulzer expects order intake to continue developing in a positive manner this year.
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| 5.018% stockholding interest of UBS Fund Management (Switzerland) AG in Sulzer Ltd (19/04/2004, Media Release) |
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Based on the Stock Exchange Act, UBS Fund Management (Switzerland) AG has announced that it holds 182’557 shares of Sulzer Ltd. This is equivalent to 5.018% of the voting rights.
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| Corporation, Sulzer Metco |
| Henri Steinmetz Appointed as New Head of Sulzer Metco (25/03/2004, Media Release) |
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Henri Steinmetz has been appointed as the new division president of Sulzer Metco. He will start at Sulzer Metco on May 1, 2004 and will succeed Bruno Walser, who will retire by midyear. The 47-year-old Steinmetz, currently executive vice president and general manager polymer stabilizers at Great Lakes Chemical Corporation, has extensive international experience and a proven track record in leading complex businesses and improving their performance.
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