ZURICH, Sept 19 (Reuters) - Swiss pump maker Sulzer has emerged unscathed from U.S. sanctions that forced Russian oligarch Viktor Vekselberg to cut his stake to a minority and the global trade war he said was now raging, Chief Executive Greg Poux-Guillaume told Reuters.
“Our Q3 results which we announce on Oct. 25 should contribute to maintaining that positive sentiment on Sulzer and how the company is performing. I’d say so far, so good. We haven’t seen an interruption of our commercial momentum,” he said after Sulzer placed 5 million treasury shares at a profit.
“The trade war that’s currently raging is forcing us to juggle a bit on where we supply and where we deliver. But we have a global business with factories everywhere. We can adapt,” Poux-Guillaume added in a telephone interview on Wednesday.
Two-thirds of the buyers in the Sulzer share placement via an accelerated book build were long investors and wealth managers, he said. “We favoured people that were intending to hold the shares,” he added, noting no Russians were among the buyers. (Reporting by Michael Shields; Editing by John Revill)