Sulzer sells off another unit
Sulzer Industries is selling its building infrastructure department, Sulza Infra, to Groupe Fabricom for SFr420 million ($246 million).
The deal, which is still subject to regulatory approval, gives Fabricom three core Infra businesses that account for more than 90 per cent of Infra's overall turnover of SFr1.5 billion.
Its non-core communications services and consulting divisions are to be sold separately. Negotiations for these transactions are underway.
The divestment of Sulzer Infra is the latest in a string of sales by Sulzer as it moves to focus on core technology businesses.
The sale of Sulzer Turbo was announced last December, while negotiations for the sale of Sulzer Textil are currently underway. Sulzer Burckhardt is also being sold off in the second half of the year.
At the company's AGM last week, shareholders also voted in favour of spinning off the profitable medical technology unit, Sulzer Medica.
Shareholders also beat off a hostile takeover bid by InCentive Capital.
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