SWISSRELO, YOUR PARTNER IN SWITZERLAND BASED IN SION, ZUG & ZÜRICH. REAL ESTATE, COMPANY FORMATION, SUM LUMP TAXATION, RELOCATION TO SWITZERLAND, REAL ESTATE, EXECUTIVE SERVICES. BUYING A PROPERTY IN SWITZERLAND. SELLING YOUR PROPERTY IN SWITZERLAND. REAL ESTATE & FINANCIAL SERVICES IN SWITZERLAND.

swissrelo.com

SWISS BUSINESS NEWS

 

 

WINTER 2006 - 2007

 

 

Top of the News

 

After reaching the number one spot in the recently issued World Economic Forum’s Global Competitiveness Report, the country’s leading position has now been affirmed by another just released Study. Switzerland moved from 3rd to 2nd place after Singapore in the 2006 Foreign Policy Magazine/A.T. Kearney Globalization Index. The index is built by examining several indicators spanning trade, business, politics, and information technology across 62 countries.

 

 

Wins and Updates

 

Google is expanding its presence in Zurich to a minimum of 500 personnel, making Switzerland its largest location outside of California.

 

Massachusetts-based data protection and records management company Iron Mountain opened its international financial headquarters in Schaffhausen to serve its European subsidiaries.

 

Missouri-based Mark Andy Inc, a supplier of narrow web flexo technology, has announced the launch of a new advanced technology center at its European headquarters in Basel.

 

Duff & Phelps, an Illinois-based independent financial advisory, announced a new office in Zurich.

 

Pepperdine University of Malibu, California, opened its European campus at the converted Hotel Rex in Lausanne, which can house an estimated 30 students wishing to live and study abroad.

 

Trading Technologies International, Inc., of Chicago, a provider of electronic trading software and other technology solutions, opened an office in Geneva.

 

Albany International, a leading producer of custom designed paper machine fabrics and process belts used in the manufacture of paper and paperboard, has announced that it will establish its new European HQ in Canton Schaffhausen. The HQ, which is expected to house up to 60 persons, will handle sales and marketing, customer service, product acquisition and financial matters.

 

 

Reverse Investments

 

Subject to regulatory approvals Swiss biopharmaceutical firm Actelion is to acquire the US-based biotech company CoTherix in a deal worth around $420 million (SFr 521.9 million).

 

Swiss private bank EFG International based in Zurich plans to buy the PRS Group, a Miami based hedge fund house that manages $2.5 billion. The deal is valued at an estimated Sfr 150 million.

 

Wilmington, Delaware based conglomerate DuPont has announced the sale of its Protective Coatings product lines and related assets to the SIKA Group. SIKA is a leader in the Swiss specialty chemicals markets.

 

The Garick Corporation based in Cleveland, Ohio, has agreed to buy the soil composting unit operating under the name New Milford Farms from Nestle for an undisclosed price.

 

The Swiss Bucher Industries group based in the greater Zurich area, reportedly plans to intensify its R&D activities in glass processing by investing fifteen million euros in a new facility in the US.

 

Berkshire Hathaway of Omaha, Nebraska, acquired all U.S. activities of the Swiss reinsurance group, Converium based in Zug, for $295 million.

 

Swiss company, Habsit, based in Reinach, canton Basel, completed its takeover of California based plastics producer Summa Industries.

 

 

From The Foreign Desk

 

The German subsidiary of Mumbai, India based Aftek Infosys Ltd., has established its new headquarters in Schaffhausen in the Greater Zurich area.

 

German specialty distributor of niche and advanced-technology products Sysob IT-Distribution has opened a new office in Switzerland.

 

ReVolt Technology of Norway has moved its operational headquarters and R&D center to Staefa, near Rapperswil in the Greater Zurich Area.

 

French dairy food and water producer Danone group has opened a new office in Zurich in order to respond more effectively to the demands of the market. Danone is the worldwide leader in the fresh dairy products market.

 

Berlin-based advertising agency Re'public Finanzkommunikation GmbH, which specializes in finance, has expanded its business with the opening of a new office in Zurich.

 

Bermuda-based Butterfield Bank has entered the Swiss private banking market with the establishment of a new subsidiary in Zurich.

 

Merck-Serono, formed from the recent acquisition of the Swiss firm Serono by the German pharma firm Merck, announced that it plans to build a new Erbitux production plant in Vevey, canton Vaud.

 

 

Other News

 

The 2007 Heritage Foundation/The Wall Street Journal Index of Economic Freedom ranks Switzerland 9th worldwide and 4th in Europe.

 

In the nanotechnology sector, Switzerland ranks first among the top 25 regions/countries citations per paper, according to a 2006 report by the Community Research and Development Information Service (CORDIS) titled “The economic development of nanotechnology – an indicators-based analysis.” The Netherlands and the U.S. rank second and third.

 

 

Publicity and Promotion

 

Releases distributed since our last newsletter:

 

November 16 - Switzerland Ranks 2nd in 2006 Globalization Index

 

 

 

News from Location Promotion Switzerland