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RENOVA Group acquires stake in technology company Sulzer through its Everest investment vehicle

Zurich (ots)

RENOVA Group is acquiring a position in Sulzer
based in Winterthur that will bring its total position in the company
to approximately 18% in shares, plus additionally 14% in physical
delivery options. These shares and options are to be held via Everest
Beteiligungs GmbH, which is Renova's joint venture with the Austrian
Victory. By investing into Sulzer RENOVA Group has been able to
further and strategically deepen its existing investments in the
industrial technology sector. Vladimir Kuznetsov, Chief Investment
Officer of RENOVA Group and the General Manager of Everest,
emphasises that currently neither a further increase nor a complete
takeover of Sulzer are in planning. He described Sulzer as a very
well positioned and operated company with a skilled management,
a solid strategy and large potential.
RENOVA Group, which is led by Dr. Victor Vekselberg, is joining
the Swiss company Sulzer with 18% in shares and 14% in physical
delivery options. To this end the Everest Beteiligungs GmbH held
equally by RENOVA and Austrian Victory Industriebeteiligung AG is
acquiring registered shares of Sulzer and options for Sulzer.
Vladimir Kuznetsov has stated in this matter: "Sulzer fits
perfectly into with our investment strategy in the industrial
technology sector. We are convinced that it has great potential both
as a tradition-rich machine engineering company and as an innovative
technology company. Furthermore, Sulzer has one of the best corporate
governance profiles among European companies." Kuznetsov furthermore
stressed that RENOVA supports the international expansion of the
company, as well as its general strategy. As a new major shareholder
RENOVA will make every effort possible to support Sulzer in its
future plans.
Victor Vekselberg designated Sulzer in this context as
an "industrial pearl". For RENOVA the involvement in Sulzer would
signify an overall boost of its activities in the industrial
technology sector. Vekselberg literally: "Sulzer is a very
interesting company with forward-looking products. The fact that we
are again investing in a Swiss industrial company after OC Oerlikon
proves how good a location Switzerland is for growth- and
future-oriented companies." Vekselberg pointed out that Sulzer
entertains a strong presence on the Russian market already today.
Through RENOVA Group's involvement with Sulzer the economic
cooperation between Switzerland and Russia will be strengthened and a
contribution made to widening Russia's industrial and technological
base" Vekselberg pointed out. PRESS RELEASE, April 20, 2007 page 2
The involvement in Sulzer will also mark changes in management at
Everest Beteiligungs GmbH. As of April 19, 2007 Vladimir Kuznetsov
has been appointed as manager of the company. RENOVA Group and its
partners will be defining the guidelines of the investment vehicle.
About RENOVA Group:
RENOVA Group is a diversified industrial and investment holding.
In Russia, the Group is one of the leading investors in the oil,
natural gas, mining, metallurgy, mechanical engineering, chemical,
real estate and energy sectors, as well as in numerous other areas.
RENOVA Group's focus of activities is in Russia, the CIS states,
Switzerland, South Africa and the USA. Among the group's most
important involvements are investments in the Russian-British oil
joint-venture TNK-BP, RUSAL, the worldwide largest aluminum company,
as well as in the Swiss high-tech company OC Oerlikon. The Group is
headed by Dr. Victor Vekselberg, one of Russia's most influential
entrepreneurs.

Contact:

Markus Blume
Spokesperson of RENOVA Group:
Tel.: +41/43/210'95'62
E-Mail: markus-blume@renova-group.ch
Internet: www.renova-group.ch