ZURICH, Sept 20 Swiss industrial group OC
Oerlikon has made a bid for Sulzer's coating
unit Metco, the world's largest maker of thermal spray coatings
used in the car, chemical and energy industries.
Sulzer put the business up for sale to concentrate on more
lucrative businesses making pumps, equipment and services for
the oil and gas industry and has asked for tentative bids by
"OC Oerlikon confirms its participation in the auction
process relating to the sale by Sulzer Ltd of its Metco
division," the company said in a two-sentence statement.
Sulzer hopes the Metco sale will fetch about 800 million
Swiss francs ($880 million), two people with familiar with the
process have told Reuters.
Aside from Oerlikon, Sulzer has approached peers including
British Bodycote, U.S-based Praxair and Japanese
IHI Corp, these people said.
Russian tycoon Viktor Vekselberg owns large stakes in both
Oerlikon and Sulzer - almost half of the former and a third of
the latter - and Oerlikon has been cited as a possible main
contender in the auction.
Earlier this year, Oerlikon's interim Chief Executive Juerg
Fedier said the company had 1.2 billion Swiss francs to spend on
potential acquisitions and that the vacuum and coating segments
would be in focus.