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Sulzer to Strengthen Tower Field Service Activities in India with Acquisition of SAB Technical Services
(25/06/2009 , Media Release ) |
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Today, Sulzer Chemtech signed an agreement to acquire SAB Technical Services (India). The purchase price is up to USD 5.75 million (approximately CHF 6.3 million) depending on the future performance. Subject to the fulfillment of certain conditions, the closing of the acquisition is expected in July 2009. SAB’s annual sales is approximately USD 4 million (approximately CHF 4.4 million). With this acquisition, Sulzer Chemtech will further expand its geographical presence as a leading global specialized tower field service provider.
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Sulzer Adapts to Changing Market Conditions with Cost Reduction Program
(24/06/2009 , Media Release ) |
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Market conditions in Sulzer’s key segments have continued to decline over the last months and no quick recovery or improvement is expected. Sulzer is adapting its capacity and cost structure with targeted annual cost savings of approximately CHF 110 million after completion in the first half of 2011. Compared to the global workforce at year end 2008, about 1,400 positions will be affected. The associated non-recurring charges of around CHF 55 million are expected to be booked primarily in 2009.
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Extraordinary General Meeting in August — Jürgen Dormann and Klaus Sturany Proposed as New Board Members
(03/06/2009 , Media Release ) |
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The board of directors of Sulzer has decided to hold an extraordinary general meeting on August 18, 2009 for the election of new board members. The board will propose to elect Jürgen Dormann and Klaus Sturany as new board members. The board plans to elect Jürgen Dormann as chairman after the extraordinary shareholder meeting. The board decision to hold an extraordinary general meeting and to propose the election of two new board members was made unanimously.
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Stockholding Notification of Sulzer Ltd
(02/06/2009 , Media Release ) |
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The agreement between Sulzer Ltd and Renova Group, signed in October 2007 in order to govern the formal relationship between both parties, ended on May 31, 2009. Therefore, the Renova Group and Sulzer Ltd are no longer to be considered a group for the purpose of disclosure of shareholdings pertaining to Art. 15 SESTO-FINMA.
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