SWISS BUSINESS NEWS
WINTER 2004 -2005
Top of the News
According to the latest European Innovation Scoreboard EIS, Switzerland is among
the most innovative countries in Europe. Gross national spending for research and
development of the Swiss private sector in GDP percentage is the highest in Europe
(Switzerland: 1.9%, Europe: 1.27%). In addition Swiss patent applications rank highest,
even surpassing the USA when measured by patents applications at the European Patent
Registry per million inhabitants (Switzerland 460 patents per million inhabitants).
The European Innovation Scoreboard EIS measures innovation in all countries of the
European Union (EU25), and some associated countries such as USA, Japan and Switzerland.
Wins and Updates
NOVA Chemicals Corporation, Canada's largest chemical maker, has agreed to merge
its European styrenics polymers business in a 50-50 joint venture with BP Plc, Europe's
largest oil company. The new joint venture, which will create one of the largest
polystyrene and expandable polystyrene manufacturers and marketers in Europe, will
be headquartered in Fribourg.
Georgia-headquartered express delivery company United Parcel Service (UPS) is to
establish its headquarters for Europe, the Middle East and Africa (EMEA) in Biel.
The new facility will create 100 jobs in Bern. UPS Supply Chain Solutions unit will
bundle all of its important management tasks in Biel. Initially, the company will
lease office space in the city and will later construct its own building. The total
investments for the project will come in at 30 million euros. The decision to choose
Biel was based on the central geographical position of the city, the high standard
of living and the available real estate and industrial property in the region, Fred
Schardt, Managing Director of UPS Supply Chain Solutions EMEA, said. The canton Bern
also attracted UPS with a large number of multi-language employees and the "favorable
business conditions" offered by the local authorities.
New Jersey-based biopharmaceuticals company Celgene Corporation is to establish its
first European production center at La Chaux-de-Fonds. The investment will create
around 100 new jobs.
Texas-based Docucorp International, a provider of enterprise information solutions,
will expand its presence in Eastern Europe and the DACH (Germany, Austria and Switzerland)
region by opening new offices in Zurich and Prague.
Glacier Reinsurance AG, a Switzerland-based start-up reinsurance company, began doing
business January 1st. Glacier Re has received $300 million in funding from a range
of backers including Soros Fund Management of New York and HBK Investments of Dallas.
The company plans to write policies for aerospace, catastrophic reinsurance, European
property and casualty, marine and energy, as well as war and terrorism.
From The Foreign Desk
French oil trading firm Maurel & Prom has established a new office in Geneva to study,
research and examine the financial, industrial and commercial aspects of the oil
and gas business.
Also from France comes Paris-based documentation and printing SME NewWorks, which
established its international headquarters in Geneva over London as part of its ongoing
international strategy. Geneva was chosen for its French-language environment, market
potential in the banking and consulting sector, and the availability of a highly
qualified workforce for launching a research and development platform.
French Sanofi Aventis SA, the world's third-largest pharmaceuticals group by sales,
will base its Swiss head office in Geneva. The company attributed the decision to
the favorable costs in the city, which is also a center of the French-speaking part
of Switzerland.
British low-cost airline Easy Jet is establishing its next continental hub at Basle?s
Euro Airport. The airline says it intends to base three additional aircraft there
as well as create 530 new jobs.
Romanian oil company Rompetrol set up an international trading arm Vector Energy
Ltd, based in Zug. Vector Energy will focus on crude supply to Rompetrol's 100,000
barrels per day Petromidia Refinery in Romania.
Germany's Singulus Technologies, a manufacturer of optical disc replication equipment,
plans to establish another manufacturing site in Schaffhausen this spring. The Kahl-based
firm will manufacture the next generation of injection molding machines at the new
facility.
Schaffhausen-based NanoWorld Holding AG has acquired 100% of the German based NanoAndMore
GmbH. This is a first step to extend the NanoWorld Group's radius of action along
the value-added chain. NanoWorld Holding AG is a purely financial holding company
and does not conduct business operations.
Other News
Financial Times for December 29, 2004, reported on tax specialists warning against
locating headquarters in the U.K. Instead, Switzerland, Ireland and the Netherlands
were cited as countries attracting investment due to their low and flexible tax regimes.
Infinity Pharmaceuticals Inc. of Cambridge is in a two-year drug discovery collaboration
with the Novartis Institutes for BioMedical Research, which is the Cambridge-based
research arm of the Swiss drug giant. In addition to the research collaboration,
Novartis will make a multimillion-dollar equity investment in Infinity -- essentially
a bet on the future success of the three-year-old start-up. The deal was hailed by
one biotechnology financier as evidence of Novartis' impact since moving its worldwide
research headquarters to Cambridge in 2003.
Zurich based biotechnology firm Cytos has reached an agreement with US pharma firm
Pfizer to acquire the exclusive development and marketing rights for two animal health
related products.
Also in Switzerland, Holcim Ltd., the world's second largest cement producer, is
reported to have reached agreement to acquire Aggregate Industries, a British construction
group, for $3.4 billion. In a separate transaction, the St. Gallen based company
also bought a major stake in Gujarat Ambuja Cements, India's third-largest cement
maker.
Swiss banking giant UBS has purchased about 5% of the stock in Hollinger International,
owner of the Chicago Sun-Times.
Publicity and Promotion
Releases distributed since the last newsletter:
January 5 - Switzerland Ranks 2nd in EIU 2005 Quality of Life Index
News from Location Promotion Switzerland
