Ad hoc announcement pursuant to Art. 53 LR
May 24, 2022Sulzer to exit the Russian market
The Sulzer Board of Directors has decided to initiate the process of exiting the Russian market.
The sales process will begin with immediate effect and follows Sulzer’s announcement earlier in the year that it had already significantly reduced business activities in Russia.
The Board regrets the necessity of this decision after decades of operations in Russia, but after careful review of the possible options, concludes that it is the best solution for all the stakeholders.
Sulzer expresses its gratitude to all employees globally for their outstanding engagement in these challenging times and is fully committed to continue supporting its 300 employees in Russia through the process.
This document may contain forward-looking statements including, but not limited to, projections of financial developments, market activity, or future performance of products and solutions containing risks and uncertainties. These forward-looking statements are subject to change based on known or unknown risks and various other factors that could cause actual results or performance to differ materially from the statements made herein.
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Sulzer Management Ltd
8401 Winterthur
Switzerland
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Sulzer Management Ltd
8401 Winterthur
Switzerland