Sulzer Metco – Oerlikon

Sulzer has signed an agreement with Oerlikon for the divestment of its Sulzer Metco division. The transaction is based on an enterprise value of CHF 1 billion.

Sulzer expects cash proceeds after taxes of approximately CHF 850 million from the deal. The divestment agreement is subject to merger control and regulatory approval. Closing is expected in the third quarter 2014.

Sulzer CEO Klaus Stahlmann said: “We are pleased that we have found a new owner for the Sulzer Metco division that will leverage the strengths of the business in the best possible way. This transaction is an important step to focus Sulzer’s activities on the three attractive key markets oil and gas, power, and water. Sulzer wants to serve customers in its key markets as one focused company, achieving collaborative advantages and synergies across its businesses by leveraging its product portfolio, capabilities, and expertise.”