July 24, 2019 / 6:51 AM / a month ago

Sulzer CEO sees oil and gas investment continuing next year

FILE PHOTO: The logo of Swiss engineering group Sulzer AG is seen at their headquarters in Winterthur, Switzerland May 28, 2018. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - Sulzer expects big investments by oil and gas companies to continue next year with positive effects for the Swiss pump maker’s sales and profits, Chief Executive Greg Poux-Guillaume told Reuters.

“People have this doom and gloom mentality currently, but in oil and gas we are still at the beginning of the investment cycle,” Poux-Guillaume said.

“We see healthy markets in oil and gas this year and next year,” the executive said after Sulzer lifted its full-year sales and order guidance on Wednesday.

Reporting by John Revill

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