Xylem Inc. announced that it has completed its spinoff from ITT Corporation, and has begun operations as a $3.2 billion standalone global water technology company.
Sulzer Pumps and Düchting Pumpen will debut their new partnership at POWER-GEN International exhibition on 10-12 December 2002 in Orlando, Florida. They are jointly marketing pumps of highly wear resistant SICcast®, an innovative silicon carbide and mineral composite, for flue gas desulphurization (FGD) applications.
The Sulzer Board of Directors recommends Sulzer shareholders not to accept the pre-announced public tender offer by InCentive Capital AG. The announced realignment of the Sulzer Corporation is already well underway and will create greater value for shareholders, employees and customers than the short-term oriented procedure of InCentive Capital. Sulzer and Sulzer Medica will be separated as planned, whereby Sulzer shareholders will be offered the Sulzer Medica shares currently held by Sulzer.
