Divestiture of five Sulzer Industries business units – including pumps sector

19.10.2000

Sulzer makes drastic changes: Medical Devices and Surface and Materials Technology form the core of the new corporate strategy. These areas offer potential for high growth and profitability. As a consequence of the new strategic direction, new owners will be sought over the next several months for five business units (Infra, Pumps, Textil, Turbo and Burckhardt) with a total of over 14’600 employees. At the same time, Sulzer plans to make acquisitions of over CHF 2 billion within two years. Sulzer Medica Ltd will merge with Sulzer Ltd – this is subject to the approval of their shareholders. The strategic rea lignment will lead to a reduction of approximately 300 jobs in corporate services world-wide, half of which in Switzerland. Throughout this transition, Sulzer will honor its social obligations to its employees.

The transformation from a broadly diversified Technology Corporation to a sharply focused “new” Sulzer means that five Sulzer Industries business units will be divested. These are Sulzer Infra (5300 employees), Sulzer Pumps (4700), Sulzer Textil (2000), Sulzer Turbo (1000), Sulzer Burckhardt (750) and related distribution and service organizations, which together account for revenues of approximately CHF 3.6 billion. Sulzer will give preference to those buyers for whom these units represent a good strategic fit for further development and who respect their obliga tions to the workforce. It is Sulzer’s intent to conclude these divestitures rapidly so that the pe riod of uncertainty for the employees affected is as short as possible.

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