Sulzer sells Winterthur Real Estate Portfolio to Implenia and Real Estate Services Business to Auwiesen Immobilien AG

Long-term strategy successfully implemented
 

Sulzer is selling the real estate portfolio and activities of Sulzer Real Estate: The Winterthur real estate portfolio and the development unit are being acquired by Implenia Ltd for CHF 82.1 million. The real estate services are being sold to Auwiesen Immobilien AG for CHF 2.5 million. The implementation of Sulzer’s long-term strategy of selling all operationally non-essential real estate in Switzerland to third parties will be successfully concluded with these last steps. The two purchasing companies will retain all employees.

With the sale of Sulzer Real Estate Ltd to Implenia Ltd for CHF 82.1 million, Sulzer is selling its operationally non-essential real estate in Switzerland including the related development unit. The sale involves some 400,000m2 of land in industrial and central as well as agricultural zones. Thereof 230,000m2 are situated at attractive locations with development potential on the Sulzer sites in central Winterthur and in Oberwinterthur. Subject to approval from the authorities, the divestiture is scheduled to be completed by October 2010. Implenia is also purchasing the real estate development unit, which offers comprehensive services in site and project development and real estate sales. All of the unit’s employees will be transferred to Implenia. Existing development projects such as the Superblock in the center of Winterthur will be continued.


The real estate management and services units of Sulzer Real Estate are being sold to Auwiesen Immobilien AG for CHF 2.5 million. All employees (approximately 40) will be retained. The Managing Director of Sulzer Real Estate, Martin Schmidli, will take over responsibility as Managing Director of Auwiesen Immobilien AG. The management of real estate for pension funds and third parties also includes the management and further development of customers’ real estate portfolios. The divestiture is scheduled to be completed at the end of September 2010.

Implenia is a construction and building services provider listed on the SIX Swiss Exchange that offers support with every step of a project, from conception and planning to implementation, production, and facility management. The company has over 6,000 employees and more than 100 locations in Switzerland.

Auwiesen Immobilien AG was created from Rieter Immobilien AG and is now an independent company. In addition to managing the real estate portfolio of the Rieter Group, the company also works on behalf of private and institutional real estate investors.