SULZER

Since 1922, Sulzer has successfully participated in the South African market.  Now in 2005, to take advantage of the opportunities of expanding its business presence, Swiss-based multinational Sulzer Pumps Ltd initiated an equity programme for their South African subsidiary, Sulzer Pumps (South Africa) (Pty) Ltd.   Sulzer Pumps Ltd is a global leader in the development and supply of centrifugal pumps to selected industries, mainly oil and gas, hydrocarbon processing, pulp and paper, power plants and the industrial water sector, and its products are internationally reputed for their technical excellence.

This programme has enabled the South African company to further develop a sustainable competitive advantage; to create value for all its stakeholders; to provide knowledge resources; and to commit to a strong social investment in the local community's well being.

What is also important is the fact that the new BEE partner, Sakhumnotho Pumps (Pty) Ltd., brings tremendous energy and leverage to the table in terms of creating wealth, skills development, as well as expertise and experience in the targeted markets.  Sakhumnotho Pumps (Pty) Ltd., will be an active partner in expanding Sulzer's presence in South Africa.

This Black Empowerment deal is a landmark in that it reflects the possibilities for foreign companies operating in South Africa to find ways to sell equity to BEE partners.   As has been clearly shown, Sulzer is here for the long haul, investing in people, investing for the future. With this in mind it can only enhance the company's credibility with existing and new customers.