- the company's new headquarters, a landmark of Winterthur and at 99.7 meters the tallest building in Switzerland at the time. It served as Sulzer’s headquarters until 1999, and again from 2012. In 1961, Swiss Locomotive and Machine Works (SLM) in Winterthur was acquired, and the large diesel engine became Sulzer's flagship product worldwide. In 1966, Sulzer acquired a 53 percent stake in Escher Wyss & Cie. in Zurich, reaching an all-time high of over 30,000 employees. In 1969, Escher Wyss AG was taken over in full. Crisis in the 1970s and 1980s In the 1970s, the oil crisis announced a new orientation towards the technology group and the development of materials technologies. Sulzer reacted to the global decline in capital goods in the 1970s after losses in the second half of the 1980s. In 1982, the weaving machine business was expanded. In 1984, the year of its 150th anniversary, Sulzer recorded losses and underwent massive restructuring. Medical technology was expanded by the purchase of the American Intermedics Group for one billion Swiss francs in 1988. The Winterthur machine factory was closed in 1990 and the founding site in Winterthur was vacated. For the first time, Sulzer employed more people abroad than in Switzerland. On 14 May 1993 Gebrüder Sulzer, Aktiengesellschaft was renamed Sulzer Ltd. In 1996, a technology center was built in the Oberwinterthur Industrial Park. Acquisitions and divestitures around the turn of the millennium In 1997, Sulzer Medica went public, and Sulzer Thermtec (equipment and valves for power plants) was sold to the British IMI. In 1999, another reorganization took place and Sulzer Industries became independent with its own CEO. The pumps business in China was strengthened by founding a joint venture with Dalian Pumps. The company sold its water turbine business (Sulzer Hydra) to the Austrian technology company VA Tech. In 2000, Sulzer acquired the Finnish company Ahlstrom Pumps. In the middle of the year, the steam locomotive and machine factory DLM became independent, the remains of the former SLM became Winpro AG in 2001 through a management buyout. In 2001, patients experienced problems with contaminated hip joint implants from Sulzer Medica in the USA, leading to class action lawsuits. In 2002, Sulzer Medica agreed on a settlement with the US plaintiffs and Sulzer paid 75 million US dollars for the settlement, which caused a massive drop in its share price. In 2001, Sulzer sold its textile