LOCATION: SWITZERLAND+
Volume 9, No. 3, Spring 2006
On the Web at www.locationswitzerland.com
Top of the News
A four-page report by KPMG titled
"How Switzerland attracts international headquarters" was published
as a sponsored section in the April edition of International Tax Review.
The lead notes that the country's tax regime has a lot of advantages for any
multinational corporation thinking about locating a headquarters there.
The tax regime is one of many factors that position Switzerland as a favored
FDI destination for companies from around the world. For a copy of the
report log onto www.locationswitzerland.com/html/newsletters-pr-articles/articles/april2006-kpmgintltaxrev.pdf
Wins and Updates
Three from California:
Kyphon Inc. (NASDAQ: KYPH) is
establishing an operational presence in Neuchatel to support rapid international
growth. Kyphon Sarl will house manufacturing and distribution activities for
international markets as well as administrative activities including clinical,
regulatory, marketing and shared financial services. Certain global R&D
activities will be performed to augment Kyphon's R&D center in Sunnyvale.
From Belmont, Red Herring, a leading
technology business magazine and organizer of global industry conferences, has
relocated its EMEA headquarters from France to Switzerland. The organization will
accelerate the expansion of its presence in the regions and offer its entire
product portfolio from its new facilities in Techno park Zurich.
Palo Alto-based Vendavo, a leading
provider of price management software, opened its European headquarters in Geneva
as part of a program to expand its European operations to meet the growing
demand for its pricing solutions in that region.
And three for the Geneva Region:
GeNeuro, a new biotech company with a
focus on combating multiple sclerosis, was recently launched in Geneva.
For the next two years, GeNeuro will be based at Eclosion SA, the launching
platform for new companies engaged in various scientific fields in the Lake
Geneva Region.
GenKyoTex, a second new biotech
company, with a concentration on fighting degenerative diseases and cellular
aging, will also be based at Eclosion, situated in Plan-les-Ouates. The
underlying research and company names derive from the work done on three
continents - GENeva-KYOto-TEXas.
Also in Geneva, the Metropolitan
Museum of Art launched its first full-time representative office overseas under
the direction of Dr. Mahrukh Tarapor. In her new post, Dr. Tarapor will
supervise the Museum's Exhibitions and work closely with the curators on their
program of temporary exhibitions frequently traveling to destinations around
the globe.
Stryker Spine, a Division of Stryker
Corporation, a world leader in orthopedics, announced the completion of its
80,000 square foot production plant. Construction on the new plant in La
Chaux-de-Fonds, in the Canton of Neuchatel, was begun in March 2005. Up
until now 25 million SFr have been invested in a project that over the next
five years is expected to provide up to 150 new jobs.
Industrial and aerospace manufacturer
Barnes Group Inc., (NYSE: B) has reportedly agreed to acquire Heinz Hanggi AG,
Stanztechnik. The Swiss company makes high-precision metal components for
a range of industries.
Armor Holdings Inc., based in
Jacksonville, FL and publicly traded (NYSE: AH), has bought Swiss-Photonics
AG. The Swiss company, based in Heerbrugg, through its trade name
Projectina, makes and distributes forensic optical equipment for the
international forensics and crime scene markets.
Three American investors have
reportedly acquired the Sunstar chain of eight hotels, with most properties
located in Cantons Bern and Graubunden. Sunstar, which owns and manages
these four-star hotels, is quoted on the Swiss stock exchange. The
company closed its current tax year with revenue of about forty million SFr.
Salt Lake City, UT-based Huntsman has
won the bid for the textile business of Ciba Specialty Chemicals for a reported
332 million SFr. The textile effects operation has revenue of 1.3 billion
SFr, and 3,300 employees, all of whom will be transferred to Huntsman.
Swiss companies have also been active
expanding in the US.
In late April Novartis completed its
takeover of Chiron Corp. The Emeryville, CA, company is a leading maker
of vaccines and biotech drugs.
Muttenz, Canton Baselland-based chemical
concern Clariant has reportedly bought KiON Corporation, a leading manufacturer
and seller of high performance based polysilazane resins used in the aerospace,
automotive, metals, construction, electronics and coating industries. The
American company is based in Huntingdon Valley (a suburb of Philadelphia, PA).
Jet Aviation, with its worldwide
headquarters in Zurich Switzerland, has expanded its North American footprint
by acquiring St. Louis, MO- based Midcoast Aviation with 875 employees. Jet Aviation
was founded in 1967 and with 4,500 employees worldwide working in over 60
facilities has become the leading business aviation service globally.
Swisscom Eurospot, a subsidiary of
Switzerland's largest telecommunications provider will acquire Core Communications
Corp, headquartered in Northern Virginia. Core Communications, with about
75 employees, is a professional services company specializing in data
communications and Internet solution for the hospitality industry.
From The Foreign Desk
Clinical House, a German supplier of
medical technology products, has launched its Swiss subsidiary Clinical House
Europe GmbH in Zurich to facilitate the European expansion of the high-tech
implant supplier.
Dormio Leisure Development from the
Netherlands and EPS-Projectmanagement GmbH from Germany reportedly plan to
build a vacation resort with 850 beds, vacation apartments, a harbor and sports
facilities in the town of Unterterzen on the shores of Lake Walensee.
Projected opening date is sometime in 2008.
An equally ambitious mega real estate
project is apparently on the drawing boards for Andermatt in the Canton of
Uri. The Orascom Group of Egypt plans to develop a huge resort complex
spanning one million square meters including hotels, apartments, vacation
homes, wellness services and a golf course. The resort, on which construction
is not expected to begin until 2008, is intended to attract tourist from all
over Europe to one of Switzerland's best know mountain towns.
Other News
The Forbes Global 2000 for 2006 lists
39 Swiss companies starting with UBS at 10 through BCGE Group ranked at 1997. http://www.forbes.com/lists/2006/18/Country_11.html
According to the latest OECD report,
Switzerland ranks 4th behind Iceland, Korea, Netherlands and Denmark in
broadband subscribers per 100 inhabitants at 23.1. The U.S. ranks 12th among
industrialized nations at 16.8.
The Networked Readiness Index,
released by the world Economic Forum for the fifth time, finds the US leading
the pack and Switzerland, unchanged in ninth place. All of the top ten
countries were found to have a transparent government and regulatory system,
leading educational institutions, favorable framework conditions for business and
a high acceptance of new technologies.
Publicity and Promotion
The 2006 edition of
"Switzerland, your International Management Gateway to Europe" is off
the press. For print copies email locswitz@locationswitzerland.com or go online at www.locationswitzerland.com/html/publications/gateway06.pdf
Releases since our last Newsletter:
February 14 - Report on 2005 North
American investments and expansions
March 7 - VF Corporation Consolidates
European Shared Services and other Key
Operations in Switzerland
March 29 - Red Herring opens EMEA
Headquarters in Switzerland
April 11 - Zurich, Geneva and Berne
in Top 10 in 2006 Mercer Quality of Living Survey
April 25 - GenKyoTex Launched in
Switzerland to Combat Cellular Aging
Upcoming Events
For further information and
registration click on the Events icon on the LS website
May 7 - 11: Nanotech '06 Conference
in Boston with SHARE and Swiss Business Hub USA
May 14 - 21: 13th Media Tour:
Mechatronics, Robotics and Autonomous Systems
May 14 - 28: Icons of Red and White,
A Swiss-Singaporean Celebration, Singapore
May 31 - June 2: Canadian Financial
International Executives Conference, Niagara Falls
SwissInk
More results from Recent Media Tours