The Sulzer technology corporation has confirmed it is interested in the Zimmer orthopaedics business being put up for sale by the United States pharmaceutical concern, Bristol-Myers Squibb.

However, a Sulzer spokesman in Winterthur said the company was not in active talks about a deal.

"Naturally we are looking at the Zimmer option," said Sulzer spokesman Hans-Caspar Ryser, when asked about market speculation.

"This is something that we are very clearly looking at given the strategic positioning of our orthopaedics business, which is market leader in Europe," he added.

Sulzer plans to merge with its separately listed unit, Sulzer Medica, with medical technology one of its core businesses.

Sulzer shares have fallen sharply since last month's announcement of the merger with Medica. The coupling will enable the company to pursue its aim of focusing on the medical devices and materials technology businesses.

Ryser declined to comment on the price movement other than to say that shares seemed to be normalising after a period when they were undervalued.

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