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| Corporation, Sulzer Chemtech |
| Sulzer Chemtech wins large order in China (15/04/2003, Media Release) |
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Sulzer Chemtech has received an order for the design, construction, and delivery of six high-tech polystyrene reactors for the growing Chinese petrochemical market segment. Worth more than CHF 15 million, this is by far the largest order ever received by Sulzer Chemtech’s Mixing and Reaction Technology business unit.
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| Corporation, Sulzer Chemtech |
| Sulzer Chemtech acquires selected assets of Koch-Glitsch mixer business (01/04/2003, Media Release) |
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On March 31, 2003, Sulzer Chemtech acquired selected assets of the mixer business of Koch-Glitsch with locations in Wichita (Kansas, USA) and Winterthur (Switzerland). In 2002, this business had sales of USD 9.6 million.
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| Substantial rise of net income to CHF 83 million (05/03/2003, Media Release) |
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In a difficult market environment, the Sulzer Corporation was able to uphold sales (CHF 1946 million) and order intake (CHF 1917 million) for 2002 at prior-year level, taking the continuing operations as comparison basis. Consolidated operating income before goodwill amortization (EBITA) reached CHF 149 million. The four core divisions contributed CHF 97 million, 21% less than in prior year. Net income rose to CHF 83 million, compared with only a breakeven result in prior year (CHF 2 million).
The Board of Directors proposes to the Annual General Meeting of April 16, 2003, a dividend of CHF 6 per share and the election of CEO Fred Kindle to the Board. Sulzer expects a demanding year 2003 and will put the emphasis on operational improvements in the core divisions.
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| Corporation, Sulzer Metco |
| MTU and Sulzer Metco sign engine program partnership agreement (05/02/2003, Media Release) |
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MTU Aero Engines GmbH, a DaimlerChrysler subsidiary, and Eldim B.V., a Sulzer Metco company, inked a strategic GP7000 partnership agreement, according to which Eldim takes a roughly 1% stake of the GP7000 engine in MTU’s workshare. MTU’s role in the engine to power the Airbus A380 mega-transport amounts to 22.5%. MTU partners with General Electric and Pratt & Whitney in the emerging GP7000.
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| Corporation |
| Sulzer order volume sustained for 2002 (23/01/2003, Media Release) |
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In a difficult economic environment, the Sulzer Corporation upheld the level of order intake during 2002. While order volume declined nominally by 6 percent to CHF 1917 million, there is an increase of 2 percent in order intake after consideration of adjustments for acquisitions, divestitures, and currency effects. The nominal decline of 3 percent in core division order intake to CHF 1864 million likewise represents a 2-percent increase over prior year after adjustments. Apart from the challenging market conditions, currency effects had a negative effect on order intake figures. Prospects for the current year are very difficult to assess in view of the tense political situation worldwide and uncertain economic developments.
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| Corporation, Sulzer Hexis |
| Sulzer Hexis and Gaz de France sign co-operation agreement (21/01/2003, Media Release) |
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Sulzer Hexis Ltd, who develops and manufactures fuel cell systems for single-family homes, and Gaz de France have signed a co-operation agreement on January 6, 2003. Gaz de France, one of the leading European natural gas companies, will test a preseries system “HXS 1000 Premiere” from Sulzer Hexis. The system has already been delivered and installation will be completed in January; it will be in operation until the end of 2003. Sulzer Hexis will have for the first time a preseries system operating in France.
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| Corporation, Sulzer Metco |
| Sulzer Metco acquires DB Thin Films (23/12/2002, Media Release) |
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On December 20, 2002 Sulzer Metco signed a purchase agreement to acquire the assets of the privately held DB Thin Films LLC in Woonsocket (Rhode Island, USA). With 20 employees, DB Thin Films sales are about USD 2 million (CHF 3 million).
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| Corporation |
| 5,07% stockholding interest of UBS Fund Management (Switzerland) Ltd in Sulzer Ltd (04/12/2002, Media Release) |
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| Corporation |
| Slow development of Sulzer order volume (23/10/2002, Media Release) |
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Order intake by the Sulzer Corporation for the first nine months 2002 totalled CHF 1463 million (–6% compared with prior year, +1% adjusted for acquisitions, divestitures and currency effects). Order intake by the core divisions was CHF 1425 million, 3% below prior year level (adjusted: +1%). The difficult market situation and the negative currency influences led to lower third-quarter results than usual. Despite an acceptable business volume under these circumstances, the operating income of the core divisions will be lower. Sulzer nevertheless expects a respectable net income for the year.
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| Corporation, Sulzer Turbo Services |
| Brian McKenzie new Head of Sulzer Turbomachinery Services (23/10/2002, Media Release) |
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Brian McKenzie has been appointed Head of Sulzer Turbomachinery Services, a Division of the Sulzer Corporation headquartered in Winterthur (Switzerland). Per January 1, 2003 he will succeed Ton Büchner, who will take on leadership of the Sulzer Pumps division as of the same date. The 44-year-old Brian McKenzie is currently President of Hickham Industries, La Porte (Texas), the largest unit of Sulzer Turbomachinery Services which he has successfully led for four years, and has been with Sulzer since 1982.
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