SWISS BUSINESS NEWS
WINTER 2006 - 2007
Top of the News
Swiss-American Chamber of Commerce and Boston Consulting group surveyed a statistically
significant number of the 6500+ foreign companies in Switzerland to find that 88%
would choose Switzerland again if they had to decide about a location today. Among
criteria deemed important in selecting a location are workforce availability and
education, labor flexibility; a reliable, stable and transparent political system
and administration, the tax system, proximity to key markets and quality of life.
Wins and Updates
Software giant Microsoft working with its subsidiary Media-Streams has opened a Microsoft
Developer Center in the Greater Zurich Area. In its first Developer Center in Switzerland,
Microsoft will develop collaboration technologies and products for the Microsoft
Office system.
New York-based Take-Two Interactive Software, Inc., an integrated global developer,
marketer, distributor and publisher of interactive entertainment software games,
is relocating its international publishing headquarters to Geneva from the U.K.
PowerLight Corporation, Berkeley, CA, a global provider of grid-connected solar electric
power systems, has opened its European headquarters in Geneva, where it expects to
a local workforce of approximately 20 by 2006-2007.
Hawthorne, NY - based Boyden Global Executive search has expanded its network capabilities
in Zurich with the addition of two new partners.
Riverbed Technology, Inc., of San Francisco and a performance leader in wide-area
data services (WDS) solutions, announced an expanded presence in the EMEA region
that includes a sales office in Switzerland
In a move to strengthen its photo processing and digital imaging business, Hewlett-Packard
announced that it will acquire Zug-based Silverwire Holding AG, which has some 23,000
photo kiosk-licensed operations in 30 countries.
Above Security of Montreal and Switzerland's Protective Partners SA have established
SecureIT SA in Canton Valais. The firm provides continuous remote monitoring of
the IT infrastructure and critical systems of public and private businesses and organizations
in the Swiss market.
Symyx Technologies of Santa Clara, CA, has signed a definitive agreement to acquire
Autodose SA, a privately held, Geneva-based maker of precision powder-dispensing
equipment. Symyx and Autodose have worked together since 2000, as Symyx has incorporated
Autodose's products into systems Symyx has sold to chemical and pharmaceutical customers.
Symex's European headquarters is in Basel.
Credit Suisse and General Electric announced that they would set up a one billion-dollar
joint venture fund to invest in infrastructure assets, with a significant focus on
projects in emerging markets.
Melville, NY-based Henry Schein, in a move to enter the Swiss animal health market
will acquire Provet Holding AG with 2005 sales of $50 million. The Swiss company
distributes drugs, biologicals, diagnostic products, pet food and equipment to veterinary
practices throughout the country.
Dublin, OH-based medical products and services provider Cardinal Health has signed
an agreement with Swiss drug maker Roche to help make doses of Tamilflu. Under the
agreement, Cardinal Health will make hard gelatin capsules at a facility in Europe
and packaging and print inserts in the US.
New York-based Ferro Capital, an independent alternative investment management firm
specializing in the development and management of funds-of-hedge funds, has opened
an office in Zurich, its second in Europe.
Reverse Investments
On this side of the Atlantic, various Swiss companies have also recently announced
new or expanded investments:
Swiss consumer goods giant Nestle has bought the US diet firm Jenny Craig for a reported
$600 million to enter the weight-loss market and add to its nutritional and health
business. Purina PetCare, a Nestle subsidiary, has also just announced its plans
to expand its pet food manufacturing plant in Belleville, Illinois.
Swiss cement group, Holcim, the second largest cement provider worldwide, has commenced
construction on a one billion-dollar cement plant in Ste. Genevieve, MO.
Swiss security concern, Kaba, has bought the privately owned US company Computerized
Security Systems based in Troy, MI. CSS had last year sales of about $73 million.
The acquired company's specialty is in the field of specialized keys and security
systems for hotels under the names Saflok and La Gard.
Agawam, MA-based and privately owned Conrad Fafard will be purchased by Basel- based
Syngenta for a reported $133 million. The acquisition enables the Swiss agro-chemical
concern to further expand its existing garden and grass franchises.
Anika Therapeutics Inc. of Woburn, MA has signed an exclusive worldwide commercialization
agreement with a Swiss joint venture involving L'Oreal and Galderma for cosmetics
tissue augmentation therapies.
From The Foreign Desk
Lombard, the pan-European life specialist that UK-based Friends Provident bought
in 2004, has applied to open a branch in Switzerland to be closer to the world's
largest private banking market.
German-based logistics company Schenker AG has opened a logistics terminal in Eiken
to focus on overland transport services.
Stihl, the Baden-Wurttemberg-based manufacturer of power tools, is to invest the
equivalent of around 100m Euros in the construction of a new production plant in
St Gallen. It will be the company's second such facility in the canton.
Also from Germany, discount retailer Lidl, part of Schwarz Group, will begin construction
work at its Swiss office in Weinfelden, in the spring of 2007. Lidl also plans to
establish a goods distribution center there, which is expected to create 300 jobs.
The company will coordinate its activities in Switzerland from these facilities.
UK firm Richards Butler, which recently merged with US law firm Reed Smith is to
open an office in Switzerland in association with local trade and commodities law
firm Chabrier & Partners. The firms have signed an agreement that will see the Geneva-based
firm become known as Chabrier & Partners in association with Richards Butler. The
Swiss firm specializes in trade and energy, trade finance, shipping and commercial
arbitration.
French agrofood group Louis Dreyfus announced the consolidation of all the European
trading operations of Louis Dreyfus Commodities in Geneva.
Kuwait-based PWC Logistics has acquired Basel based logistics group Cronat, which
under its business name Natural, is the 3d largest logistics firm in Switzerland.
The Kuwait-based firm will assume the 600 employees.
Other News
Location: Switzerland and the Embassy of Switzerland will bestow the second annual
Tell Awards for the leading North American investment projects in our country to
the award winners at a gala event at the Embassy on September 14th. Awards will
once again be made in four established categories, namely for the most significant
manufacturing project, the most significant headquarters' project, the most significant
expansion project and the most significant technological investment.
The Swiss Economic Forum in Thun earlier this year crowned the country's three best
small and medium-sized businesses with its own annual awards. The recipients were
Woodwelding, a Zug-based company recognized for its innovative technology using ultrasound
to bind porous materials; Thömus Veloshop, a family owned business that designs and
builds high-tech bicycles and a range of clothing for cyclists, and Bern's Lorenzini
company, which runs two award-winning restaurants in the old town.
Thommen Medical USA, the American arm of the Swiss dental implant manufacturer, will
be moving its offices to Playhouse Square in downtown Cleveland, OH from its current
location in Bartlesville, OK. The US unit had last year sales of about $25 million
and will have a staff of about 25 persons.
Rockville, MD-based Human Genome Sciences has agreed for a $500 million license fee
to collaborate with Swiss drug giant Novartis to finish developing Albuferon, the
US company's potential new treatment for hepatitis C infections.
Publicity and Promotion
Releases since our last Newsletter:
June 6 - US and Switzerland Establish a New Trade and Investment Forum
June 13 - Degussa Consolidates Western European Sales Administration in Switzerland
June 20 - Microsoft Opens New Developer Center in Switzerland
July 12 - PowerLight Corporation Opens European Headquarters in Switzerland
August 1 - Take-Two Interactive Software's Publishing Headquarters in Switzerland
News from Location Promotion Switzerland
