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| 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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| Slow development of Sulzer order intake (18/07/2002, Media Release) |
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Consolidated order intake by the Sulzer Corporation for the first half of 2002 totalled CHF 1039 million (–3% compared with prior year, +2% adjusted for acquisitions, divestitures and currency effects). Order intake by the core divisions matched the prior mid-year level at CHF 1013 million (adjusted: +3%). This slow development is attributable to the ongoing insecurity in many market areas, a situation which Sulzer does not expect to change significantly before year-end. Order intake for 2002 as a whole is therefore likely to match the prior year level.
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| Corporation, Sulzer Hexis |
| Sulzer Hexis and the Dutch Energy Research Centre ECN sign co-operation agreement (27/06/2002, Media Release) |
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In June 2002, Sulzer Hexis Ltd and the Energy Research Centre of the Netherlands (ECN) signed a co-operation agreement. ECN, an independent organisation with a research and development emphasis on efficient energy utilisation, will test the pre-series system HXS 1000 Premiere from Sulzer Hexis. It will be installed this summer and operated for one year. This will be the first time that Sulzer Hexis will operate a pre-series system in the Netherlands.
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| Corporation, Sulzer Pumps |
| Sulzer Pumps acquires Centriflo (06/06/2002, Media Release) |
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Sulzer Pumps acquires selected assets from US service and repair company Centriflo Pump and Machine Co., Odessa, Texas, USA. With 32 employees, Centriflo’s sales currently total about USD 3.5 million (CHF 5.6 million).
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| Recall problem no longer an issue for Sulzer Ltd (31/05/2002, Media Release) |
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Following final approval by Centerpulse (formerly Sulzer Medica) of the settlement agreement with patients concerning hip and knee prostheses recalls in the USA, this matter is now closed for Sulzer Ltd as party to the agreement – subject to a possible appeal. Sulzer Ltd is no longer subject to any remaining risks, also in connection with opt-outs. The re-aligned industrial Sulzer corporation can now concentrate fully on its business activities.
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| Christina Künzle appointed Head of Corporate Development at Sulzer (23/05/2002, Media Release) |
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As of July 2002, Corporate Development at Sulzer will be headed by Christina Künzle, who is also appointed to the Executive Committee. Aged 46, she holds an MBA (INSEAD) and succeeds Patrick Kilchmann. Christina Künzle is currently managing director of Coutts Consulting (Switzerland and Germany), a specialized human resources consulting company. In July, she will start getting to know her new position, and depending on the transition at her present company, she will start at Sulzer fulltime in the fall.
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| US court confirms fairness of settlement (09/05/2002, Media Release) |
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US District Court Judge Kathleen O’Malley has granted the parties final approval of the settlement regarding the hip and knee lawsuits. The District Court Judge decided that the settlement is fair, appropriate and reasonable. Judge O’Malley also ruled that the opt-out period will end on May 15.
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| 6,36% stockholding interest of Fidelity International Ltd in Sulzer Ltd (22/04/2002, Media Release) |
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| Management buyout of Sulzer Burckhardt (18/04/2002, Media Release) |
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Five members of the Sulzer Burckhardt management have agreed with their financial partner Zurmont Finanz AG, Rotkreuz (CH), to take over the company from Sulzer Ltd through a management buy-out (MBO). Transaction closing is planned for the end of April 2002. The parties have agreed not to disclose price details. Sulzer’s divestiture program previously announced is thus completed successfully, while meeting all social targets as well as financial goals.
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| Sulzer looks to 2002 with cautious optimism (18/04/2002, Media Release) |
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Order intake by the core divisions of the Sulzer Corporation for the first quarter 2002 totaled CHF 533 million, matching the exceptionally high level of prior year. Overall, corporate order intake totaled CHF 597 million (–1% compared with 2001, but +4% adjusted for acquisitions, divestitures and currency effects). Sulzer looks to the current year with reserved optimism and expects order intake for 2002 as a whole to exceed that of 2001.
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