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Oerlikon acquires additional 20.60 % shares of Saurer Ltd. and increases the offer price of the public tender offer for Saurer Ltd. to CHF 116.50.

Pfäffikon SZ, October 11, 2006 – OC Oerlikon Corporation Ltd., Pfäffikon („Oerlikon“; security no. 81 682; symbol: OERL), has sold back today all its call options for shares of Saurer Ltd. to the issuing banks, and it simultaneously acquired a total of 2’997’300 shares of Saurer Ltd. (20.60 %) at a price of CHF 116.50 per share. At the same time, Oerlikon increases the offer price of its public tender offer, pre-announced on September 6, 2006, for all publicly held shares of Saurer Ltd. from CHF 110 to CHF 116.50. Moreover, Oerlikon waives all conditions of its pre-announced public tender offer with the exception of the approval and/or clearance of the relevant competition authorities and absence of any decisions and orders from any court or other authorities prohibiting the completion of the offer.

As of October 11, 2006, Oerlikon thus holds 6’500’636 shares of Saurer Ltd. equaling 44.68 % of the share capital and voting rights of Saurer Ltd.

 

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