Sulzer Corporation - Media Releases

Sulzer sells Winterthur Real Estate Portfolio to Implenia and Real Estate Services Business to Auwiesen Immobilien AG

Tue, 31 Aug 2010 06:50:00 +0200

Sulzer is selling the real estate portfolio and activities of Sulzer Real Estate: The Winterthur real estate portfolio and the development unit are being acquired by Implenia Ltd for CHF 82.1 million. The real estate services are being sold to Auwiesen Immobilien AG for CHF 2.5 million. The implementation of Sulzer’s long-term strategy of selling all operationally non-essential real estate in Switzerland to third parties will be successfully concluded with these last steps. The two purchasing companies will retain all employees.

Sulzer achieves healthy profitability in the first half of 2010

Thu, 22 Jul 2010 09:20:00 +0200

Sulzer achieved a healthy level of profitability with a return on sales of 10.5% in the first half of 2010, based on early adaptation measures initiated in 2009. Order intake in the first half of 2010 increased by 4.2% (adjusted 3.5%) on the base of signs of fundamental recovery in Sulzer’s early-cycle markets and indications of stabilization in the late-cycle industries. Sales decreased due to the significantly lower order intake in 2009 and the timing of specific projects. The service network was considerably strengthened by the acquisition of Dowding & Mills. Sulzer’s balance sheet continues to be strong, allowing for further acquisitions. For the full year, order intake is expected to be at a level comparable to the previous year, while sales and operating income are likely to decrease. Profitability is forecasted to remain healthy.

Sulzer Acquires Diamond-like Carbon Coatings Activities from Bekaert

Thu, 01 Jul 2010 17:49:00 +0200

Sulzer and Bekaert, today announced the completion of the acquisition of Bekaert’s diamond-like carbon (DLC) coatings activities. The transaction value amounts to EUR 11.0 million (CHF 14.5 million). This business with its leading DLC technology achieved sales of EUR 12.5 million (CHF 16.5 million) in 2009. The acquisition will expand the geographical presence and complement the technology range of Sulzer Metco in the thin-film coatings market.

Commitment to Improve Continuously

Mon, 21 Jun 2010 06:48:00 +0200

Sulzer today released its Sustainability Report 2009, which received the application level A+ of the Global Reporting Initiative. The company is committed to continuously improving its sustainability performance. The frequency of accidents was further reduced and hazardous waste production per net value added decreased.

Sulzer’s Cash Offer to Acquire Dowding & Mills Accepted in Respect of Over 90% of Share Capital—Offer Declared Wholly Unconditional

Thu, 03 Jun 2010 08:03:00 +0200

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

Sulzer (UK) Holdings Limited has received acceptances for its recommended cash offer in respect of over 90% of the share capital of Castle Support Services plc (“Castle”).

Sulzer Makes Recommended Cash Offer to Acquire Dowding & Mills—Strengthening its Service Business

Wed, 02 Jun 2010 08:03:00 +0200

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

Sulzer and the board of Castle Support Services plc, the sole owner of Dowding & Mills, have agreed the terms of a recommended cash offer by Sulzer (UK) Holdings Ltd for Castle Support Services plc, for a total of approximately GBP 127.5 million (CHF 217 million). Sulzer (UK) Holdings Ltd has received irrevocable undertakings to accept the offer in respect of shares representing 94.09% of Castle Support Services plc. With the proposed acquisition, Sulzer intends to strengthen its service business. Dowding & Mills is a leading repair and maintenance service provider for generators and motors with annual sales of GBP 125.5 million (CHF 213 million). The electromechanical activities of Dowding & Mills will expand Sulzer’s technical competences and complement the current activities of Sulzer Turbo Services. The intended acquisition will create a leading independent provider of maintenance and repair services for turbomachinery, generators and motors with potential for further geographic expansion. Sulzer will maintain its strong financial position, allowing for further external growth.

Change in the Sulzer Executive Committee

Mon, 10 May 2010 17:35:00 +0200

Peter Meier, Chief Financial Officer and Member of the Executive Committee, has decided to leave Sulzer in order to pursue a career opportunity outside the company.

Sulzer Pays an Unchanged Dividend of CHF 2.80 per Share

Thu, 15 Apr 2010 12:20:00 +0200

At today’s Annual General Meeting of Sulzer Ltd, shareholders approved all board proposals. The dividend remains unchanged at CHF 2.80 per share.

Order Intake of CHF 817 million

Thu, 15 Apr 2010 06:42:00 +0200

The order intake in the first quarter of 2010 reached CHF 816.8 million. This figure represents a decrease of 1.8% adjusted (nominal 2.7%) compared with the first quarter of the previous year. Order intake was, however, higher than in the remaining three quarters of 2009, supported by some bigger projects awarded to Sulzer Pumps and Sulzer Chemtech. Sulzer does not anticipate a quick recovery in its key markets. For the full year 2010, order intake is expected to be at a level comparable with that of 2009.

Double-Digit Profitability in Challenging Markets

Thu, 25 Feb 2010 06:49:00 +0100

Building on operational discipline and its strong order backlog, Sulzer managed the challenges of the global economic downturn well in 2009 and maintained its strong market positions. Return on sales reached a high level of 12.4% before and 11.0% after restructuring expenses. Free cash flow increased substantially. Net income reached CHF 270.4 million, corresponding to earnings per share (EPS) of CHF 8.06. The Sulzer Board of Directors is proposing an unchanged dividend of CHF 2.80 per share. Tim Summers has been proposed for election as a new board member to replace Urs Andreas Meyer. Sulzer is well positioned for sustainable success based on its strong market positions, its operational and strategic initiatives and its sound financial situation. Due to reduced market activity in 2010, order intake and sales are expected to decrease, resulting in a lower operating income and return on sales.