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| Operating income 2000 before exceptional items increases 35% year-on-year (09/03/2001, Media Release) |
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Sales increased 4% to CHF 5736 million (prior year: CHF 5519 million), and Sulzer operating income before goodwill and exceptional items increased by 35% from CHF 309 to 418 million. This is attributable to substantially higher contributions both from Sulzer Medica and Sulzer Industries. Sulzer Medica operating income before goodwill and exceptional items rose by 15% from CHF 234 to 270 million. Sulzer Industries operating income before goodwill and exceptional items rose by 97% to a record high of CHF 175 million (prior year: CHF 89 million).
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| Sulzer submits formal response to the takeover board (04/03/2001, ) |
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On Friday, 2 March Sulzer AG submitted its filing to the Takeover Board, responding to the pre-announcement published by InCentive Capital AG in relation to its intended take-over bid. This follows the rejection by Sulzer’s Board on 23 February of InCentive’s take-over approach. The submission of a formal response to the Takeover Board at this stage is the normal course of action in such situations.
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| Only slight impact on hip sales in the US for the first two months of 2001 (02/03/2001, Media Release) |
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On December 8, 2000 Sulzer Orthopedics initiated the voluntary recall of certain lots of the shells immediately after the Company discovered an unacceptable level of residue of a mineral oil-based lubricant on the surface of some shells. Sulzer Orthopedics had determined that this residue may prevent the implant from properly bonding with the bone, causing the shells to loosen. The recall primarily concerns the US market of Sulzer Orthopedics. A number of lawsuits and class actions have been filed against Sulzer Orthopedics. The Company will defend itself against the certification of class action suits to address patients affected on an individual basis.
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| Sulzer Board of Directors to be reconstituted - Corporate realignment making good progress (23/02/2001, Media Release) |
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The Sulzer Board of Directors recommends Sulzer shareholders not to accept the pre-announced public tender offer by InCentive Capital AG. The announced realignment of the Sulzer Corporation is already well underway and will create greater value for shareholders, employees and customers than the short-term oriented procedure of InCentive Capital. Sulzer and Sulzer Medica will be separated as planned, whereby Sulzer shareholders will be offered the Sulzer Medica shares currently held by Sulzer. In connection with this separation, the Sulzer and Sulzer Medica Boards of Directors are to be reconstituted. Leonardo E. Vannotti is to be appointed Chairman of the Sulzer Board, while Ueli Roost will remain Chairman of the Sulzer Medica Board.
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| Sulzer assessing public tender offer by InCentive Capital AG (19/02/2001, Media Release) |
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Today Monday February 19, 2001, Sulzer Ltd was informed concurrently with public announcement of a takeover bid by the Swiss investment company InCentive Capital AG, Zug. The Sulzer Board of Directors is currently assessing in detail this offer to Sulzer shareholders.
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| Higher order intakes booked by all divisions than in prior year (18/01/2001, Media Release) |
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Consolidated order intake for 2000 by the Sulzer Corporation totalled CHF 5775 million, 7% higher than in prior year. Growth adjusted for acquisitions and divestitures was 11%, and 7% after adjustment for currency effects. Sulzer Medica attained a nominal growth of 14% (8% adjusted for currency effects), while Sulzer Industries order intake rose nominally by 5%, or 10% adjusted for acquisitions and divestitures.
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