| Corporation |
| Markedly higher earnings by Sulzer’s continuing operations (08/03/2002, Media Release) |
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Sales for 2001 by the continuing operations relevant to the future of Sulzer rose by 11% to CHF 1965 million (adjusted for acquisitions and currency effects: +3%), with operating income before goodwill amortization and exceptional items 56% higher at CHF 154 million. Consolidated net income (without Sulzer Medica) was just above break even at CHF 2 million, largely due to numerous exceptional items, in particular the participation in the proposed settlement of the Sulzer Medica claims. Accordingly, the Board of Directors will propose to the Annual General Meeting of April 11, 2002, that no dividend be paid. Sales and operating income for the current year are expected to rise further despite challenging market conditions.
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| Corporation, Sulzer Turbo Services |
| Sulzer Turbomachinery Services reaches agreement to acquire Enpro (05/03/2002, Media Release) |
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Sulzer Turbomachinery Services agreed to acquire the US field service and repair company Enpro of New Orleans, Louisiana, USA. With around 120 employees, Enpro sales currently total about USD 21 million (CHF 35 million). The geographical presence and customer portfolio ideally complements the existing activities of Sulzer Turbomachinery Services in the USA.
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| Corporation |
| Relationship between Sulzer and Sulzer Medica clarified (25/02/2002, Media Release) |
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Sulzer Medica agreed to pay all future liability related to the re-call of hip and knee im-plants in the US to the extent such liability is not covered by the settlement agreement that will be made with the plaintiffs. Accordingly, Sulzer will no longer have any remaining risks when the settlement becomes effective. The injunction against individual lawsuits is extended until March 8, 2002.
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| Corporation |
| Sulzer included in settlement agreement (02/02/2002, Media Release) |
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Sulzer Ltd has agreed to participate in a tentative settlement agreement between Sulzer Medica and plaintiffs lawyers by contributing USD 50 million to avoid any residual risks in connection with hip and knee implant recalls in the USA. In addition to this sum, Sulzer is also making its remaining 480,000 Sulzer Medica shares available for settlement purposes. This satisfactory solution for all concerned enables Sulzer to concentrate fully again on its realigned corporate business operations.
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| Corporation |
| 17 percent rise in Sulzer core divisions order intake 2001 (24/01/2002, Media Release) |
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Order intake for 2001 by the Sulzer core divisions rose 17% to CHF 1921 million, equivalent to a 7% increase adjusted for acquisitions, divestitures and currency effects. Due to declining figures among the discontinuing operations, overall order intake (not including Sulzer Medica) was 22% lower than in prior year or 1% higher after adjustment. Sulzer expects ongoing growth for 2002 despite a challenging year.
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| Corporation, Sulzer Hexis |
| First deliveries of CE-certified fuel cell systems (09/01/2002, Media Release) |
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Following CE-certification of the “HXS 1000 Premiere” fuel cell system per year-end 2001, Sulzer Hexis can now market this system throughout the European Union. The first four pre-production units were delivered to sales partners in Germany and Austria last December. After ten years of intensive development work this CE-certificate represents a milestone in fuel cell marketing, mainly for covering heat and power needs in private houses.
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| Corporation |
| Sulzer Ltd insists on contractual obligation of Sulzer Medica Ltd (20/12/2001, Media Release) |
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Sulzer Ltd initiated arbitration proceedings today against Sulzer Medica Ltd to confirm legal validity and executability of Sulzer Medica's obligation to indemnify Sulzer Ltd.
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| Corporation |
| Sulzer Board of Directors: Comprehensive Renewal (14/12/2001, Media Release) |
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The Board of Directors of Sulzer Ltd, Winterthur has decided to renew itself comprehensively. Four new members selected according to clearly defined competencies have been nominated by the Board under Chairman Leonardo Vannotti.
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| Corporation, Sulzer Metco |
| Euroflamm and Metaplas acquisition by Sulzer finalized (28/11/2001, Media Release) |
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As previously announced, Sulzer Metco has acquired the surface technology companies Euroflamm GmbH and Metaplas Ionon GmbH from Babcock Borsig AG on October 1, 2001. The transaction has now also been approved by the antitrust authorities.
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| Corporation |
| Sulzer Ltd not responsible for faulty prostheses implants (13/11/2001, Media Release) |
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The responsibility of any manufacturing faults in 2000 as they are claimed by plaintiffs in the US lies with the manufacturer, Sulzer Orthopedics Inc. of Austin, Texas, a subsidiary of Sulzer Medica Ltd. These products were manufactured after Sulzer Medica became an independent publicly traded company in the summer of 1997. Sulzer Ltd is entirely free of any legal or moral liability for this situation.
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