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This is the third of a three-case series (399-140-1 to 399-142-1). In early 1997, as Sulzer Infra approaches the end of the three-year period allowed for turnaround, it appears that return to profitability will be assured. Sulzer Infra is one of five independent groups of Sulzer Corporation. Since 1994 the management team has worked hard to re-align and re-structure the company, and now breakeven is expected by the end of the year. Sulzer Infra examines strategy options that will re-shape the activity base and promote growth, even if the industry environment has not yet fully recovered from recession. The management team struggles with re-configuration of the business portfolio and geographic expansion beyond the existing scope. This case is suitable for strategic management courses.