Ahlstrom Pumps acquisition by Sulzer finalized

31.05.2000

The acquisition by Sulzer of the pump business of Ahlstrom Corporation, Helsinki, Finland has now been finalized. The parties have completed negotiations and agreed to a takeover price of EUR 160 million (about CHF 250 million). The transaction has also been approved by the antitrust authorities.

Instead of the originally planned share capital transfer at a price of EUR 145 million, the parties have now agreed that Sulzer will take over the corporate assets of Ahlstrom Pumps companies in the core activity countries of Finland and the USA, rather than the juridical entities themselves. The price now agreed is primarily derived from the resultant tax benefit to Sulzer.

Sulzer Pumps and Ahlstrom Pumps are ideally complementary both in products and markets. This acquisition strengthens Sulzer's position in the globally consolidating pump market, in particular enabling volume growth in more standardized pumps business.

Ahlstrom Pumps activities will be continued under the name of Sulzer Pumps. Management, employees and all company sites of Ahlstrom Pumps will be taken over by Sulzer.

Sulzer Pumps will integrate the newly acquired Finnish pump company with high priority over the next few months. Sulzer Pumps now has about 5000 employees, with annual sales exceeding CHF 900 million.

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