NEWS from Switzerland Trade and Investment Promotion - Volume 13, No. 3 Spring 2010

Top of the News
Surveys have ranked Swiss companies as the most innovative in Europe, dispelling the myth that the country's ideas often fail to find commercial success at home, according to an article in SwissInfo. Switzerland climbed one place to top the European Innovation Scoreboard issued by the European Union in March. And research by the KOF Swiss Economic Institute reveals that innovation really does translate into cash.

The EU's annual comparison of innovation in the continent showed Switzerland outperforming 32 other countries after displaying strong growth in ideas and application during 2009.

Wins and Updates

Cabot Corporation will establish the regional headquarters for its Europe, Middle East & Africa (EMEA) region in Schaffhausen during the first half of 2010. The aim is to consolidate Cabot's regional footprint in Europe by setting up a high performing team in Schaffhausen.

Vortex Valves, headquartered in Salinas, KS, has opened a new office in Zurich to manage sales development in Switzerland, France, Germany, and Austria. The office will also provide support for Vortex's existing Italian representative, Normicom, srl.

Delaware-headquartered EI du Pont de Nemours and Co (DuPont) announced the opening of a new photovoltaic application facility at its European Technical Center in Geneva, It will operate as an open center enabling technological exchanges and research collaborations between the company and customers, industrial partners and institutes.

Teaneck, NJ-based provider of information technology, consulting, and business process outsourcing services Cognizant Technology Solutions Corporation has expanded in Switzerland with a new office in Geneva. The company also has offices in Zurich.

Foster City, CA-based Equinix, Inc. a provider of global data center services, has opened the first phase of its second International Business Exchange^TM (IBX®) data center in Geneva, The company also has 3 data centers in Zurich.

Colorado-based software company Tech-X has established a subsidiary in Zurich to provide customer support for its software products and consulting services in physics simulations and high-performance computing.

Also from Colorado, composite materials specialist Fiberforge has opened its European subsidiary, Fiberforge GmbH in Baar, canton Zug, to better serve its clients and business partners in Europe.

Expedia, the leading global online travel service, announced it is transferring its global Lodging Supply team to Geneva.

Navigation device maker Garmin Ltd. will shift the location of its incorporation from the Cayman Islands to Switzerland. The company noted that the Swiss office will provide a base for expansion of certain corporate functions in Europe and a more favorable structure from which it would be possible to acquire or partner with European businesses.

Memphis TN-based electrical equipment manufacturer Thomas & Betts has agreed to acquire PMA AG, a privately held manufacturer of technologically advanced cable protection systems based in Zurich, for approximately $120 million.

Cephalon, Inc. based in Frazer, PA, has completed its previously announced acquisition of the Swiss-based pharmaceutical company Mepha located in Aesch. As a result of the acquisition, Mepha is now a wholly-owned subsidiary of Cephalon. The purchase price paid at closing, inclusive of certain closing adjustments, was CHF 662.4 million (or approximately US$615.4 million).

TransPerfect, a New York-based provider of translation services, has announced that its second office in Switzerland has officially opened and is located in Zurich. The company comments that Switzerland has traditionally been a major hub for international trade. It was ranked the world's number one most competitive economy in the World Economic Forum's Global Competitiveness Report 2008-2009.

Washington-based Akin Gump Strauss Hauer & Feld LLP opened an office in Geneva to expand its international footprint further into Western Europe.

Aviation medical and travel assistance company MedAire has opened a new office in Geneva. The new office is located inside the building of MedAire's parent company, SSO International, directly across from the Geneva International Airport.

Intelestream, Inc., a leader in open source CRM consulting has expanded its European footprint by opening an office in Zurich. The office will serve as a regional base for the company's professional services, support and sales teams and is located at the Zurich World Trade Center.

StratoComm Corporation based in Albany, New York will open a market development office in Geneva. The company is a developer and provider of telecom infrastructure technologies with a specific focus on the third world. With a presence in Geneva the company will have direct access to the ITU and the wealth of diplomatic representations present in that world city.


Reverse Investments

Swiss chemical company Clariant will invest two and a half million dollars in Charlotte, North Carolina by consolidating certain business support and customer service operations there. Clariant, which already has nearly 400 employees in the state, will create an additional 50 jobs over the next three years through this investment.

Sandoz, AG, the generics unit of Swiss drug major Novartis, has entered into a definitive agreement to acquire Oriel Therapeutics. The US pharmaceutical developer is based in Durham, North Carolina.

Swiss pharmaceutical firm Novartis AG is reportedly preparing to cut about twenty percent of its US headquarters staff. The company is also reorganizing its US staff into four new business units each focused on a specific therapy area: primary care, MS, respiratory disease and neuroscience.

Horizon Therapeutics, Inc. based in Northbrook, Illinois, has merged and combined business with Reinach, Switzerland based Nitec Pharma, AG. The two privately held companies will be operated in the future under the name Horizon Pharma, Inc.

From The Foreign Desk

Five from the UK:

Novae Re, part of UK insurance company Novae Group plc, has opened an office in Zurich.

Also from the UK, INEOS Group, the world's third largest chemical company confirmed that it will move its headquarters and tax residence to Switzerland. The move is intended to further support investment in skills, plant and technology, considered by the company to be critical to driving future growth and competitive advantage, according to a group statement.

Brady plc, based in Cambridge UK and a supplier of trading and risk management solutions for metals and commodities, has acquired commodities business of Viveo Switzerland SA., a solutions provider principally for soft commodities, oil, gas and metals.

London-headquartered distribution and outsourcing group Bunzl has acquired Swiss retail supplies company Weita Holding and its subsidiaries for an undisclosed sum. Weita, based near Basel, supplies cleaning and hygiene, foodservice, retail, healthcare and safety consumable products to both end users and redistributors throughout Switzerland.

UK-based D Harris & Co International, which gives advice to financial institutions, corporate, investment firms and funds, has established an office in Zurich to service the growing number of hedge fund managers that are moving to Switzerland.

Indian poultry conglomerate VH Group is to invest in a new poultry vaccine production facility in Bassecourt, The manufacturing facility will provide a major stepping stone for the VH Group to strengthen its position in the European market. The VH Group is the first Indian company to establish such a plant. "One of the main reasons for us to come here is the high quality standard related to Switzerland", said B Venkateshwara Rao, Managing Director of the VH Group. "Thanks to the uncomplicated and efficient collaboration by all the partners of Basel Area, we were able to quickly find an appropriate site and to establish the company here."

China-based integrated photovoltaic (PV) products manufacturer Trina Solar has established a European regional headquarters in Zurich. The new headquarters will strengthen Trina's presence in Europe, allow additional logistical support and provide better service to the company's strategic partners and customers, the company said.

Finnish Teleste Group has expanded its operations on the Swiss market by acquiring Freycom S.A., an expert in network maintenance and upgrades. Freycom, which operates in the French-speaking part of Switzerland, has specialized in upgrades and maintenance of cable and house networks.

Zanders Treasury & Finance Solutions, a leading Dutch consultancy focusing on treasury management, risk management and corporate finance has opened a new office in Zurich. The new office is intended to better serve the Swiss cleint base as well as customers in other German-speaking markets.

Other News

Switzerland ranks 4th globally and 1st in Europe in the Heritage Foundation's 2010 Index of Economic Freedom. The Index covers 183 countries around the world, ranking 179 of them with an economic freedom score based on 10 measures of economic openness, regulatory efficiency, the rule of law, and competitiveness.

Switzerland also ranks 4th globally in The Global Information Technology Report 2009-2010, published by the World Economic Forum in collaboration with INSEAD. The Report assesses the extent to which 133 economies leverage information and communication technologies for increased growth and development.

Japan Tobacco International is expanding its investment in Geneva with a new international headquarters of approximately 25,000 square meters scheduled for completion in 2013. In Geneva for more than 4 decades JTI currently operates from 3 separate buildings housing 700 employees. The headcount is expected to reach 1,000 over the next 4 years.

Coming Events To register for these and other events click the "Event" icon at www.locationswitzerland.com

May 3-6: Bio 2010, Chicago
June 21-25: Nanotech Conference and Expo, Anaheim, CA
October 18-20: Advamed 2010, Washington DC

Publicity and Promotion

Releases distributed since our last newsletter

February 14: Innoveer Solutions has opened a new office in Switzerland
March 24: JTI Plans 269,000 square-foot International Headquarters in Switzerland
March 30: Tech-X Establishes Swiss Office Supporting Software Products and Consulting Services
April 6: DuPont Expands in Switzerland with New Photovoltaic Facility
April 13: Vortex Valves Establishes Regional Office in Switzerland
April 20: Cabot Corporation Establishing EMEA Headquarters in Switzerland
May 4: Fiberforge Establishes EMEA Headquarters in Switzerland

Invitations to the US-Swiss Dialog on CleanTech and green Job Creation held in Washington April 12-14 were sent to a list of Washington-area editors covering the topic and as an FYI to journalists participating in last fall's CleanTech Media Tour.

SwissInk (Note that links were "live" at publication of this newsletter)

Our release on Japan Tobacco's expansion in Geneva was carried by IPA World
NanoBusiness News carried the DuPont and Fiberforge releases

More coverage on the Green Technology media tour

John Morrow reported on Basel's sustainability program, the only European city featured in "In the Green, Sustainability & The City" published in the February issue of Sustainability magazine.

Blair Watson sent along a report on the maiden flight of the Solar Impulse
http://www.canada.com/life/Swiss+solar+energy+plane+passes+first+flight+test/2773190/story.html and a video of it taking off http://www.youtube.com/watch?v=0X_vluYuRZo.