On April 11, 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a license authorizing the completion of the transfer of the shares. This share transfer has been completed and Renova is now a minority shareholder, holding 48.83% of the shares in Sulzer. Sulzer now holds 15.24% of its own shares.
Sulzer confirms that it is no longer a blocked party or subject to sanctions under U.S. law. The company can now resume normal operations globally. To the extent that its assets have been blocked, Sulzer is taking the necessary steps to achieve timely reversal.
The business activities of Sulzer have been considerably disrupted, but the company does not believe that its long-term performance will be affected.
Sulzer would like to thank its customers, employees, financial partners and other stakeholders for their support.
The company will give more details as it announces its first quarter results on April 19, 2018.
Your media contact
Media Relations
Domenico Truncellito
Head of External Communications
Phone: +41 52 262 31 68
Sulzer Management Ltd
Neuwiesenstrasse 15
8401 Winterthur
Switzerland
Investor Relations
Christoph Ladner
Head of Investor Relations
Phone: +41 52 262 30 22
Sulzer Management Ltd
Neuwiesenstrasse 15
8401 Winterthur
Switzerland