Terry Sutter appointment
14 March 2003 - 12:17AM
UK Regulatory
RNS Number:7006I
Tyco International Ld
13 March 2003
FOR IMMEDIATE RELEASE
TYCO NAMES TERRY SUTTER PRESIDENT OF
TYCO PLASTICS & ADHESIVES
PEMBROKE, Bermuda, March 12, 2003--Tyco International Ltd. (NYSE: TYC, BSX: TYC,
LSE: TYI) today announced the appointment of Terry A. Sutter as President of
Tyco Plastics & Adhesives. Mr. Sutter succeeds David Robinson, who was recently
appointed President of Tyco Fire & Security. Mr. Sutter joins Tyco from Cytec
Industries, one of the world's leading specialty chemicals companies, where he
has served as President of the Specialty Chemicals division since 2002.
As Tyco Plastics & Adhesives' top officer, Mr. Sutter will be responsible for
the operations of a leading manufacturer and maker of plastic film, molded
products, adhesives and laminates, serving clients in the retail, industrial,
automotive, agricultural, housing and food packaging markets. He will report to
Tyco Chairman and Chief Executive Officer Ed Breen.
Mr. Breen said: "Terry joins the company with an excellent background in running
a worldwide specialty chemicals operation. In addition, his extensive experience
overseeing new product development and implementing Six Sigma fits perfectly
with our new focus on organic business growth and operating efficiencies. I know
he will play a significant role as we work to capitalize on our strengths in
this business."
Mr. Sutter said: "I'm very excited to be joining the new management team at Tyco
and to have the opportunity to develop Tyco Plastics & Adhesives' strong
potential. Tyco's Plastic & Adhesives businesses operate in a fragmented
industry sector, and our leadership position in these markets offer long-term
opportunities for growth. I look forward to enhancing our competitive position
and improving efficiencies and cash flows."
Prior to joining Cytec, Mr. Sutter served as President, Industry Solutions at
Honeywell/Allied Signal, Inc., where he had responsibility for a $1.5 billion
business unit with over 6,000 employees worldwide. While at Honeywell/Allied
Signal, Mr. Sutter also served as Vice President-General Manager, Fluorine
Products and Vice President, Marketing & Business Development. Mr. Sutter also
spent eight years at Morton International in its Adhesives and Specialty
Polymers Group, most recently serving as the business manager of the
Thermoplastic Polyurethanes division. Prior to that, Mr. Sutter spent two years
as a research engineer at Pennzoil Products.
Mr. Sutter holds an M.B.A. from the University of Chicago, an M.S. in chemical
engineering from Texas A&M, and a B.S. in chemical engineering from the
University of Missouri.
ABOUT TYCO INTERNATIONAL LTD.
Tyco International Ltd. is a diversified manufacturing and service company. Tyco
is the world's largest manufacturer and servicer of electrical and electronic
components; the world's largest designer, manufacturer, installer and servicer
of undersea telecommunications systems; the world's largest manufacturer,
installer and provider of fire protection and electronic security systems and
the world's largest manufacturer of specialty valves. Tyco also holds strong
leadership positions in medical device products, and plastics and adhesives.
Tyco operates in more than 100 countries and had fiscal 2002 revenues from
continuing operations of approximately $36 billion.
FORWARD LOOKING STATEMENTS
This release may contain certain "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause actual results,
performance or achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein that are not
clearly historical in nature are forward looking and the words "anticipate," "
believe," "expect," "estimate," "plan," and similar expressions are generally
intended to identify forward-looking statements. The forward-looking statements
in this release include statements addressing the following subjects: future
financial condition and operating results. Economic, business, competitive and/
or regulatory factors affecting Tyco's businesses are examples of factors, among
others, that could cause actual results to differ materially from those
described in the forward-looking statements.
More detailed information about these and other factors is set forth in Tyco's
Annual Report on Form 10-K for the fiscal year ended September 30, 2002 and
Tyco's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31,
2002. Tyco is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
Contact:
Gary Holmes (Media)
212-424-1314
Kathy Manning (Investors)
603-334-3900
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCNKNKDNBKDAND