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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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| Stockholding interest of InCentive Capital Ltd in Sulzer Ltd below 5% (16/04/2002, Media Release) |
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| Sulzer Board of Directors comprehensively renewed (11/04/2002, Media Release) |
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Sulzer looks to the future with modernized shareholder participation rights and a comprehensively renewed Board of Directors. The 88th Annual General Meeting of Sulzer Ltd shareholders approved all Board proposals. Following realignment of the Sulzer business portfolio, the Board of Directors has now been renewed as well.
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| Sulzer sells Sulzer Composites to Gurit-Heberlein (08/04/2002, Media Release) |
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Sulzer Markets and Technology AG, Winterthur, has reached agreement for the Gurit-Heberlein Group, Wattwil (Switzerland), to acquire Sulzer Composites. This division of Sulzer Innotec, with around 10 employees, develops and produces fiber composite materials. The Gurit-Heberlein Group provides ideal conditions for the operational and strategic development of this activity.
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| Sulzer upholds shareholder rights for agenda proposals (05/04/2002, Media Release) |
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The Sulzer Board of Directors will recommend the General Assembly of April 11, 2002, to approve that shareholders representing 2% or more of share capital can propose items for inclusion on the agenda. If the proposed abolition of voting rights restriction is also approved by the General Assembly, this will make Sulzer Ltd one of the most advanced and shareholder-friendly Swiss companies.
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| Corporation, Sulzer Hexis |
| Further distribution contracts closed for Sulzer Hexis fuel cell systems (04/04/2002, Media Release) |
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Budgeted pre-series sales and installations of Sulzer Hexis fuel cell systems – 400 units by the end of 2003 – are already largely secured. Contracts have so far been closed for 370 of these systems, lately with the three German utilities E.ON Energie AG, Thyssengas GmbH and VNG – Verbundnetz Gas AG.
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