Acquisition of Interturbine companies by Sulzer finalized
Sulzer has finalized the acquisition of the Interturbine companies in Lomm/The Netherlands. This transaction, which has received the approval by the regulatory and antitrust authorities, is in line with Sulzer’s strategy of expanding its industrial activities in surface and material technologies.
The acquisition includes Eldim and Interturbine Coating Center, both to be integrated into Sulzer Metco, and Elbar which will be integrated into Sulzer Turbomachinery Services. The three acquired companies employ 625 people and reported sales in 1999 totaling EUR 80 million (CHF 124 million). With this move Sulzer achieves a major strategic strengthening of the two expanding business units Sulzer Metco and Sulzer Turbomachinery Services.
The activities of the Interturbine companies will be continued under their current name. Management, employees and all company sites will be taken over by Sulzer. Sulzer will integrate the acquired companies with high priority over the next few months. The consolidation into the Sulzer accounts is expected by November 2000.
Winterthur, November 1, 2000