Burckhardt Compression acquires real estate from Sulzer
March 16, 2009
Burckhardt Compression and Sulzer basically agreed on the contractual terms for the purchase of the real estate in Oberwinterthur. Signing of the contract is expected within the next few weeks.
During the last months Burckhardt Compression and Sulzer have worked together on the project of the extension and consolidation of premises in the industrial area in Oberwinterthur, as informed in our press release dated May 2008. Different options for the extension of premises were assessed. The project team concluded that the acquisition of the entire real estate of approx. 60’000 m2, including an additional lot of 5’000 m2 (see plan), through Burckhardt Compression would be the best solution from an operational, legal and economical point of view.
Burckhardt Compression and Sulzer Immobilien basically agreed on the contractual terms for the purchase of the real estate in Oberwinterthur. Signing of the contract is expected within the next few weeks. The parties have agreed not to disclose the purchase price.
Given the extended options of additional space within the real estate, the planned extension project will be re-assessed and adapted in terms of size and time frame, if necessary.
The existing rental contracts between Sulzer Immobilien and the other tenants within the building will be passed on to Burckhardt Compression.
Burckhardt Compression will inform about further steps regarding the acquisition of the real estate and the extension of the premises.
About Burckhardt Compression
Burckhardt Compression is one of the market leaders in the field of reciprocating compressor technology and the only manufacturer that offers a complete range of Laby (labyrinth piston), process gas, and hyper compressors. These compressors are used in a wide range of applications in the chemical and petrochemical industry, in refineries, in air separation systems, and for gas transport and storage. Burckhardt Compression products are used to compress, cool or liquefy gas, for example hydrocarbon or industrial gases. Its customers include multinational companies in the oil, gas, petrochemicals and chemicals industries.
In addition to its thriving new installation business, a major driver of the company’s success is its global service network, which generates a substantial share of company revenues. This global network enables Burckhardt Compression to offer comprehensive customer support services, such as delivery of top-quality components, servicing of compressor valves, complete system overhauls, engineering services and the fulfillment of comprehensive maintenance contracts.
Further inquiries: Rolf Brändli, CFO, Burckhardt Compression AG
Phone +41 (0)52 262 51 91
Fax +41 (0)52 262 03 48
E-mail: [email protected]
Further inquiries: Martin Schmidli, Sulzer Immobilien AG
Phone +41 (0)52 262 27 47
Fax +41 (0)52 262 00 92
E-mail: [email protected]