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Sulzer takes a hit

Turnover for the Sulzer engineering concern of Winterthur fell 9.8 per cent in 2009 to SFr3.35 billion ($3.08 billion) compared with the previous year.

The company, one of the oldest in Switzerland, added on Thursday that as a result of restructuring costs net profit sank by 16.3 per cent to SFr270.4 million.

Of its four divisions, only Sulzer Pumps made a profit, with turnover up 2.2 per cent. Sulzer Metco and Sulzer Chemtech both dropped by around a quarter and Sulzer Turbo Services by 7.1 per cent.

In its outlook for 2010, Sulzer said last month that “challenging market conditions” continued and order intake for the year was expected to be lower than in 2009. However, some markets were likely to stabilise.

The major Sulzer shareholder is Russian billionaire Viktor Vekselberg, whose Renova holding company has a stake of just over 30 per cent in Sulzer. and agencies

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