Sulzer Diesel Changes Name Following Majority Stock Transfer

Following the transfer of the majority of shares in the company to a group of shareholders, Sulzer Diesel Ltd. will now be known as New Sulzer Diesel Ltd.

The group of shareholders is comprised of Fincantieri Cantieri Navali Italiani SpA of Trieste, Bremer Vulkan AG of Bremen, Germany, and Deutsche Maschinen- und Schiffbau AG of Rostock. The remaining shares are to be held by Sulzer Brothers Ltd. and the management of New Sulzer Diesel Ltd.

The agreement for this transfer was announced in the summer of 1990. It is an important development for New Sulzer Diesel Ltd.

The new shareholder structure provides a stable, long-term solution to the maintaining of the New Sulzer Diesel marque as a leading force in the world market for low-speed and medium-speed diesel engines for marine propulsion, marine auxiliary and stationary power plant applications.

The shareholding structure is strong and will be capable of providing the continuity required in an industry whose products are expected to have a long service life.

Although the company name has been changed to New Sulzer Diesel Ltd., the company will retain the use of the trade name Sulzer for its diesel engine products, which will thus be referred to as Sulzer diesel engines.

Based in Winterthur, Switzerland, New Sulzer Diesel Ltd. has the following subsidiary companies: • New Sulzer Diesel France SA, with offices and works in Mantes, France; • New Sulzer Diesel Japan Ltd., Kobe; • New Sulzer Diesel Hong Kong Ltd.; • New Sulzer Diesel U.K. Limited, Farnborough and London; • New Sulzer Diesel US Inc., New York, Savannah, Ga., Fremont, Calif., and Wilmington, Calif.; and associated companies in Germany and Korea.

The New Sulzer Diesel Group employs some 900 people and the worldwide order intake for 1990 is anticipated to be more than $304 million. This figure, however, excludes orders received by the licensees of New Sulzer Diesel Ltd. in 18 countries around the world.

For free literature detailing the low-speed and medium-speed diesel engines offered by New Sulzer Diesel Ltd., Circle 52 on Reader Service Card

Maritime Reporter Magazine, page 61, Feb 1991

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