Sulzer retains medical division in major restructuring

The Swiss group, Sulzer, is to embark on the most extensive restructuring in its history. It will shed its traditional industrial units and concentrate on high-growth, profitable businesses, including its medical arm Sulzer Medica. It will also re-acquire the 26% share of subsidiary Sulzer Medica it does not already own, eliminating the "dual structure" of the company. The divestments will result in around SwFr1 billion ($563 million) to be ploughed back into the remaining businesses. Sulzer plans to spend over SwFr2 billion on acquisitions within two years.