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SWISS BUSINESS NEWS

 

 

FALL 2003

 

 

 

Top of the News

 

Switzerland's attractiveness as an EU headquarters and financial operations location was the message in an extensive article published by The Wall Street Journal on October 9. Written by Glenn Simpson in Washington and Dan Bilefsky in Brussels the article helpfully reported that high-tax France and Germany are suffering the most defections to Switzerland (and to Ireland), but that the phenomenon may also be spreading to the "so-called Benelux region." U.S. companies cited as moving to Switzerland include John Deere, Polo Ralph Lauren, Gillette, Cargill, Philip Morris, Skechers, and General Mills. For a reprint while supplies last email locswitz@nyc.rep.admin.ch. The WSJ article prompted follow-up stories in Le Temps on October 10 and the Sonntagszeitung on October 12.

 

 

 

Wins and Updates

 

Madison, Wisconsin-based electronics manufacturer, AccuWeb Inc., has announced the opening of a new European subsidiary based in Fribourg. The company is known for its ultrasonic edge detectors that eliminate the need for automatic sensor positioning devices. Mr. Gabriel Bovigny will head the company's new sales and support center.

 

Fischer Imaging Corporation has moved its EMEA to Geneva from Hamburg, Germany. The Colorado-based company's staff in Geneva also manages direct subsidiaries in Germany, Italy, France, and the United Kingdom.

 

Zimmer, the Indiana-based orthopedics company, acquired Winterthur-based Centerplus (formerly Sulzer Medica) in a $3.2 billion deal that results in the world's largest artificial knee and hip joint company with annual sales of about $1.9 billion. The combined company has based its European and Australasian headquarters in Winterthur.

 

A.G. Edwards will expand its presence in the European institutional equity markets by opening an institutional office in Geneva. This office - in combination with current institutional operations in Syracuse, New York, and London, England - continues the firm's efforts to provide the European institutional equity community with value added investment advice and services.

 

Canada's Nova Chemicals Corporation has relocated its European Operations Center from the U.K. to Switzerland. Offices in Fribourg, which housed sales operations since 1983, have been expanded to accommodate a staff of 70. The company indicated that of these, 10 are transfers from Manchester.

 

Genesys Conferencing, the Colorado-based and world's largest multimedia conferencing specialist, has expanded its European operations to include Switzerland. The company is in 12 other European countries and 20 in all.

 

Texas-based mobile computer maker Motion Computing, Inc. has added distributors in Switzerland to penetrate the European market. Swiss reseller SunGate AG will market the American company's products in Switzerland. Motion Computing designs mobile computing and wireless communications equipment and employs about 50 persons in Austin.

 

 

Other News

 

The Honorable Pamela Willeford was sworn in as U.S. Ambassador to Switzerland and Liechtenstein on October 27, 2003. A close personal friend of the first lady, who was present at her swearing in, Ambassador Willeford chaired the Texas Higher Education Coordinating Board for the last five years, served as a trustee of St. Andrews Episcopal School in Austin as well as being involved in numerous other civic organizations. The Ambassador grew up in Breckenridge, Texas, and graduated from the University of Texas at Austin. She is married and has two adult children.

 

New Wave Group, a Swedish manufacturer of corporate gift items, clothing, shoes, and additional accessories, will open a logistics and distribution center in Cortaillod, Neuchâtel. The center will serve as a base for the company's distribution activities in Western Europe. It is expected to employ 50 people over the next few years.

 

Biesterfeld Plastic GmbH of Hamburg, Germany, one of the leading pan-European plastic distributors and sales partner of companies including Du Pont, Chevron, Phillips, Elastogran, Chi Mei, LG Chem, and AES, has opened a distribution center in Basel.

 

Serono, Europe's largest biotechnology company and third largest in the world, broke ground September 3 for a $240 million purpose-built research campus in the Greater Geneva area. At the completion of the first phase of construction in 2006, the 'Horizon Serono' project will house some 1,200 laboratory, research, administration, and global headquarters personnel currently working at other locations. That figure will rise to approximately 2,000 between 2008 and 2010. This substantial commitment by Serono is a great testimonial on Switzerland's strength as a European biotechnology center.

 

Electronics and electrical engineering giant Siemens AG is establishing an independent business unit called Siemens Subscriber Networks. Zurich will be home to one of four new research and development centers that will support the unit.

 

Coutts, the private banking arm of the Royal Bank of Scotland has acquired Bank von Ernst, the Swiss private bank subsidiary of Munich-based HVB. The acquisition is the latest in a string of deals for the UK bank, which paid a reported SFR 500 million for the Swiss-based bank.

 

The Tribune de Geneve recently announced the consolidation by Stryker Trauma of two separate Swiss-based operations. The American medical technology firm, which has had its Swiss management center in Canton Solothurn since 2001, will be closing its operation in Geneva and moving those personnel to Solothurn. Approximately 90 employees are affected by the consolidation.

 

On the US side, Swiss electronics component maker Elma Electonic AG has opened a sales and engineering office in Massachusetts. Elma, which designs and manufactures about 16,000 different electronic components, has its US base of operations in Fremont, California. Annual revenue is estimated at about $70 million.

 

In Massachusetts, Governor Mitt Romney's office confirmed that Swiss dental device company Straumann USA will open its first US factory. Straumann already employs about 50 persons in a sales and marketing office in Waltham, Mass., but the new factory will add a projected 170,000 square feet of manufacturing and R&D capacity and create 160 new jobs. The investment level is expected to reach $60 million.

 

Also in the States, Switzerland's largest bank, UBS, announced will buy the US brokerage business of Dutch rival ABN Amro. The $250 million cash deal, which will integrate 190 persons in the UBS global operations, is expected to close in the fourth quarter.

 

Argonne National Labs (www.anl.gov) and the Swiss Institutes of Technology (www.eth-rat.ch) during the Nanofair Trade Show and Conference held in St. Gallen, signed a memorandum of understanding to work closer together in the field of nanotechnology. Areas of focus will include nanoparticles for photonic applications, liquid crystal complexes, electrochemical electrodes for biomolecule detection and water purification, among other areas of expertise.

 

A revolutionary electronic eye produced by a Swiss firm has won its creators Europe's most prestigious information technology award, the SFr309,000 (approx. $234,000) IST (Information Society Technologies) prize. The intelligent camera, which is the size of a cigarette packet, produces three-dimensional images. The result of collaboration between the University of Neuchâtel and the private sector, the camera, known as ESPROS/TOF, is set to revolutionize all areas where photocells are currently used. It took 20 years to develop. http://www.swissinfo.ch/sen/swissinfo.html?siteSect=511&sid=4343565

 

In recognition of Switzerland's achievements in biotechnology and related sciences, the European Federation of Technology selected Basel to host their 25th Anniversary Congress last August. Swiss president Pascal Couchepin opened the Congress saying biotech ranks with information technology and globalization as one of the key forces of the 21st century. Key issues discussed included the importance of common standards and legislation across Europe, and the need for additional professionals. EPFL's Urs von Stockar said that if forecasts come true, 25,000 extra PhD students will be required just to cover the needs of biotechnology.

 

Speaking of biotechnology, a new Internet portal entitled "Swissbiotech" summarizes all the relevant players, research and other new happenings in this cutting edge field. To learn about the biotechnology scene in Switzerland and its various research institutes, incentives and other information, see www.swissBiotech.org unveiled in October by Federal Counselor Joseph Deiss and other representatives from business and academia.

 

 

Publicity and Promotion

 

Releases distributed since the last newsletter:

 

September 2 - eBay expands its international headquarters in Berne

September 3 - Swiss Medtech Road Show

September 9 - Switzerland ranks 1st in environmental index sector of the First Annual

Center for Global Development/Foreign Policy Commitment to Development

Index.

September 16 - Fischer Imaging Relocates EMEA Headquarters to Switzerland

September 23 - EIU 5-year Forecast ranks Switzerland 4th in Europe

September 30 - Serono Expansion in Geneva

September 30 - an invitation to the Showcase Switzerland event during CoreNet Global

was sent to editors of site selection and international trade publications

October 9 - GIS Specialist GeoConcept Establishes Operations in Switzerland

October 15 - Report on the Showcase Switzerland panel at CoreNet Global

 

 

 

News from Location Promotion Switzerland