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| Corporation, Sulzer Metco |
| Henri Steinmetz Appointed as New Head of Sulzer Metco (25/03/2004, Media Release) |
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Henri Steinmetz has been appointed as the new division president of Sulzer Metco. He will start at Sulzer Metco on May 1, 2004 and will succeed Bruno Walser, who will retire by midyear. The 47-year-old Steinmetz, currently executive vice president and general manager polymer stabilizers at Great Lakes Chemical Corporation, has extensive international experience and a proven track record in leading complex businesses and improving their performance.
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| Corporation |
| Stockholding interest of Fidelity International Limited in Sulzer Ltd below 5% (25/03/2004, Media Release) |
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Based on the Stock Exchange Act, Fidelity International Limited has announced that it holds now less than 5% of Sulzer’s share capital.
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| Corporation |
| Ulf Berg new CEO of Sulzer (14/03/2004, Media Release) |
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The Sulzer Board of Directors appointed Dr. Ulf Berg (53) as new Chief Executive Officer of Sulzer Ltd. He replaces Fred Kindle who will resign from this position. Ulf Berg, currently CEO of SIG Beverages AG, Neuhausen, will assume his position at Sulzer during the course of the second quarter 2004.
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| Corporation |
| Sulzer Core Divisions with Stronger Operating Earnings Power (03/03/2004, Media Release) |
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Amid an economically challenging climate, Sulzer recorded sales of CHF 1826 million in 2003. Adjusted , sales decreased by 3% compared to the previous year (–6% in nominal terms). Net income and operating income before goodwill amortization (EBITA) stand at CHF 41 million and CHF 89 million respectively. As expected, both of these figures are lower than in 2002, due to exceptional charges of CHF 23 million at Sulzer Pumps and the unusual high gains from divestitures in the previous year. By contrast, the core divisions increased their earnings power. Under exclusion of special charges their operating income increased by 10% to CHF 107 million.
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| Corporation |
| Luciano Respini Proposed as New Member of the Board of Directors (03/03/2004, Media Release) |
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Dr. Luciano Respini, president of Dow Europe, which is headquartered in Horgen (Switzerland), will be proposed as new member of the Sulzer Board of Directors at the annual general meeting on April 29, 2004. He shall reinforce the board with his extensive international experience.
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| Corporation |
| Change in Top Management of Sulzer (27/02/2004, Media Release) |
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Sulzer Board Member and Chief Executive Officer, Fred Kindle will resign from his functions by midyear 2004. The Board of Directors’ search for a successor from the outside is already well advanced. The new CEO will be announced within the next few weeks. This ensures that the leadership of the corporation will continue with full competence and without disruption.
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| Corporation, Sulzer Metco |
| Sulzer Metco strengthens its materials business (30/01/2004, Media Release) |
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On January 29, 2004, Sulzer Metco acquired the Ambeon Division from The Westaim Corporation in Calgary, Canada. Ambeon has activities in Fort Saskatchewan, Alberta, Canada, and in Marple, UK; it has a total of 110 employees and had sales of about CHF 28 million (29 million Canadian dollars) in 2003. This acquisition is a further step in enlarging the materials activities of Sulzer Metco.
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| Corporation |
| Sulzer order volume for 2003: 4 percent organic growth (16/01/2004, Media Release) |
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Order intake by the Sulzer Corporation in the unsettled year of 2003 totaled CHF 1908 million. Adjusted for acquisitions and currency effects, this figure is 4 percent higher than that of the prior year; nominally it matches the 2002 level. This flat nominal development is primarily due to currency effects, in particular due to the weakening of the US dollar. Even though the development of the order intake lost some momentum in the fourth quarter due to fewer large orders and some project postponements, Sulzer expects positive development of the business for 2004 in view of intact market prospects.
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| Corporation, Sulzer Pumps |
| Sulzer Pumps to significantly improve profitability (15/12/2003, Media Release) |
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Sulzer Pumps has launched a far-reaching operational improvement program to considerably strengthen performance. The division thereby aims to continue on the positive trend of 2003 – it has enjoyed good growth in order intake for the first 9 months and operating performance for the full year is expected to recover from last year’s low. This improvement program will lead to exceptional charges of CHF 23 million in 2003, but is expected to continuously lift the operating margin to 8% in 2006. One consequence of the measures required will be the reduction of a total of 240 positions in various locations.
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| Corporation |
| Stockholding interest of Peter Cundill & Associates Ltd in Sulzer Ltd below 5% (01/12/2003, Media Release) |
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Based on the Stock Exchange Act, Peter Cundill & Associates (Bermuda) Ltd has announced that it holds now less than 5% of Sulzer’s share capital.
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