The share buyback program of up to CHF 300 million is realized via a second trading line on the SWX Swiss Exchange. This program was launched in November 2006 (see media release of October 31, 2006) and suspended in March 2007 (see media release of March 13, 2007) after Sulzer stated it might make an offer for Bodycote plc. After careful considerations, no offer was made, accordingly the share buyback will continue. Sulzer has already bought back 154,400 shares (equivalent to 4.2%) for a total sum of CHF 211.5 million, limiting the remaining share buyback to CHF 88.5 million. It is foreseen to cancel the repurchased shares and to reduce the share capital at the next annual general meeting in April 2008.
Sulzer’s growth strategy remains unchanged, and the share buyback does not impair the funding flexibility. The borrowing capacity as well as the ongoing cash generation continue to provide significant financing power. Sulzer is committed to use this for organic growth and potential acquisitions.
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