Return to Normality for Sulzer

22.04.2003

The Annual General Meeting of Sulzer approves all proposals of the Board. A dividend payment of CHF 6 per share was approved after dispensing with a dividend last year.

At the 89th Annual General Meeting of Sulzer Ltd on April 16, 2003, all Board proposals on the agenda were approved. A dividend payment of CHF 6 per share was approved after dispensing with a dividend last year. CEO Fred Kindle was elected to the Sulzer Board of Directors, which with the re-election of Mario Fontana and Daniel J. Sauter now comprises seven members. Board Chairman Leonardo Vannotti sees the year 2002 as a return to normality for Sulzer.

29% of share capital was represented at the Annual General Meeting, in which 783 shareholders participated.

Among other Board proposals the shareholders approved a dividend payment of CHF 6 per share in line with the Sulzer dividend policy. This aims for a distribution quota around one third of net profit while taking account of the liquidity situation, funding requirements, and a certain degree of continuity.

Also approved was the election of CEO Fred Kindle to the Sulzer Board of Directors and re-election of Mario Fontana and Daniel J. Sauter, all three for a 3-year term of office. As a result, the Sulzer Board of Directors now comprises seven members.

Leonardo Vannotti, Chairman of the Board: “2002 brought a return to normality for Sulzer. I am convinced that after these years of realignment, Sulzer is now in the position to generate stable growth and attractive profits.”

The Sulzer Corporation (www.sulzer.com) is comprised of the four core divisions Sulzer Metco (coating technologies and services), Sulzer Turbomachinery Services, Sulzer Pumps (including services), Sulzer Chemtech (chemical process components and services) and the venture division Sulzer Hexis (fuel cell systems for residential needs). Consolidated sales for 2002 totaled CHF 1946 million. The Sulzer Corporation employs more than 9000 people worldwide.

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