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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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| Corporation |
| Sulzer sites in Winterthur and Zurich sold to Allreal (04/09/2002, Media Release) |
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The Sulzer Corporation and the Allreal Group have reached agreement on sale of the “triangular” site in Winterthur and the former Escher-Wyss site in Zurich. This transaction concludes an important part of Sulzer’s real estate divestiture plan, and enables long-term exploitation by Allreal of important urban development potential in Zurich.
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| Corporation, Sulzer Turbo Services |
| Enpro acquisition by Sulzer finalized (30/08/2002, Media Release) |
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As announced in March, Sulzer Turbomachinery Services agreed to acquire the US field service and repair company Enpro of New Orleans, Louisiana, USA. The transaction was closed on August 26, 2002 after all pending contractual obligations had been settled.
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| Corporation, Sulzer Pumps |
| Upcoming leadership change at Sulzer Pumps (27/08/2002, Media Release) |
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As of January 1, 2003, Ton Buechner, currently head of Sulzer Turbomachinery Services, will take over the lead at Sulzer Pumps, the largest division at Sulzer.
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| Corporation |
| Sulzer: clear return to profitability per mid-year 2002 (27/08/2002, Media Release) |
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In view of the challenging market situation, the Sulzer Corporation attained satisfactory profitability per mid-year 2002, with an operating income (EBIT) of CHF 66 million and net income reaching CHF 42 million. Operating income of the core divisions totaled CHF 31 million, 26% below the prior-year figure of CHF 42 million. Although the economic environment is likely to remain difficult in the second half of 2002, the Sulzer Corporation expects to end the year with a respectable net income compared to the breakeven result of the prior year.
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| Corporation, Sulzer Innotec |
| Sulzer Innotec and Generics collaborate (21/08/2002, Media Release) |
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Sulzer Innotec, the central business unit for research and development of the Sulzer Corporation, has agreed on a collaboration with The Generics Group (UK). Both partners want to co-operate in sales and marketing and further develop and exploit Sulzer Innotec’s Intellectual Property Rights (IPR, e.g. patents).
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| Corporation, Sulzer Hexis |
| Sulzer Hexis and Gasverbund Mittelland sign distribution agreement (19/08/2002, Media Release) |
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Sulzer Hexis Ltd, developer and manufacturer of fuel cell systems for single-family homes, has signed a distribution agreement with the natural-gas supplier Gasverbund Mittelland AG (GVM). This calls for 30 systems to be made available for testing in Swiss households. With this agreement Sulzer Hexis has reached an important goal: 400 pre-series fuel cell systems are under contract to be tested and further developed in co-operation with energy utilities and installers.
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| Corporation, Sulzer Metco |
| Sulzer Metco acquires Select Powertrain Technologies (30/07/2002, Media Release) |
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On July 29, 2002, Sulzer Metco has signed a purchase agreement to acquire the assets and technology of Select Powertrain Technologies Corp. in Dayton (Ohio, USA) from the privately held Select International Corp. With 20 employees, Select Powertrain’s sales are about USD 4 million (CHF 6 million).
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| Corporation |
| Sulzer Textil take-over approved by the EU Commission (24/07/2002, Media Release) |
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The European Commission Antitrust Authority today approved the sale of Sulzer Textil to the Itema Group, Italy – subject to various conditions to be fulfilled by the purchaser. This transaction, which is part of the Sulzer corporate divestiture program, has thus been legally confirmed.
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