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| 5.53% stockholding interest of Peter Cundill & Associates Ltd. in Sulzer Ltd (01/07/2003, Media Release) |
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Peter Cundill & Associates (Bermuda) Ltd. holds 201’238 shares of Sulzer Ltd. This is equivalent to 5.53% of the share capital, not 5.82% as stated in the media release of June 27, 2003.
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| Corporation, Sulzer Innotec |
| Sulzer Innotec focusing on industrial competencies (22/05/2003, Media Release) |
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The Sulzer Innotec division, Winterthur, is focusing its research mandate activities on selected industrial competencies. In this connection Sulzer Innotec will be discontinuing activities in certain research disciplines, leading to a reduction of up to 30 jobs (out of 150) by year-end 2003. Sulzer Innotec is currently undergoing transformation into a self-sufficient business unit of the Sulzer Corporation. The measures now taken are necessary in order to reach the targeted goals.
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| Stockholding interest of UBS Fund Management (Switzerland) Ltd in Sulzer Ltd below 5% (21/05/2003, Media Release) |
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| Adjusted order intake for the first quarter matches prior year level (23/04/2003, Media Release) |
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Consolidated order intake by the Sulzer Corporation for the first three months of 2003 totaled CHF 481 million nominal, 13 percent below the high prior-year level. After adjustment for currency effects and acquisitions, order intake by the core divisions matched the prior year level. Apart from the challenging situation in some markets, currency effects in particular again influenced order intake negatively. Prospects for the current year remain uncertain, but the rise in order volume for the last quarter 2002 has been continuing with a further improvement in the first quarter 2003.
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| Sulzer pays dividend of CHF 6 per share (16/04/2003, Media Release) |
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At the 89th Annual General Meeting of Sulzer Ltd on April 16, 2003, all Board proposals on the agenda were approved. A dividend payment of CHF 6 per share was approved after dispensing with a dividend last year. CEO Fred Kindle was elected to the Sulzer Board of Directors, which with the re-election of Mario Fontana and Daniel J. Sauter now comprises seven members. Board Chairman Leonardo Vannotti sees the year 2002 as a return to normality for Sulzer.
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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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| 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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