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SWISS BUSINESS NEWS

 

 

SUMMER 2003

 

 

 

Top of the News

 

Confirming the importance that Switzerland attaches to using and benefiting from the latest technologies, the Office of Telecommunications has begun a new auction for up to three additional mobile telephone licenses. The current mobile communications band will be extended to include frequencies formerly used by the Swiss army. Swiss authorities plan to give smaller rivals of the current license holders an opportunity to launch new products on a local scale.

 

 

Wins and Updates

 

eBay is expanding its international headquarters in Berne, where new facilities can accommodate up to 100 employees from a current headcount of 30. All non-American markets will be managed from Berne.

 

General Mills' selection of Nyon, canton of Vaud, as its European headquarters has been announced officially. The facility employs 23 personnel including 12 Swiss nationals, and houses the Vice President for Europe plus financial, marketing, human resources, production and strategic planning functions.

 

Ohio-based Invacare International has transferred its European headquarters from Tours, France to Gland, canton of Vaud, Switzerland. The headquarters team has European directional heads in general management, marketing, finance, human resources, IT, quality, supply chain, and new product development. The establishment has also included the recruitment of Swiss personnel into some of these functions.

 

Merisant, the maker of Canderel Sweetener, has inaugurated their EMEA headquarters operations in Neuchâtel. Merisant Company acquired the global tabletop sweetener business from Monsanto Company in March of 2000. With more than $400 million in worldwide sales, Merisant is the undisputed leader in the worldwide $1.2 billion tabletop sweetener market.

 

Volcano Therapeutics, Inc., a privately held medical device company headquartered in Laguna Hills, CA, has completed the acquisition of JOMED's ultrasound and functional measurement businesses. Volcano is focused on the discovery, development and commercialization of products for the treatment of atherosclerosis and other coronary diseases. More about the company at www.volcanotherapeutics.com.

 

French company Geoconcept, a specialist in geographic information systems (GIS), has announced the opening of its Swiss operation in Geneva through the acquisition of its local distributor GIS Conseil. The new subsidiary is called GeoConcept International Software SA Switzerland. The client base includes government administrations in the cantons of Vaud, Geneva, Fribourg, and Neuchatel.

 

 

Other News

 

Swiss-headquartered global power and automation technology group ABB is to invest 4 million euros to expand its Irish subsidiary, ABB Transformers, in Waterford City. The investment will enable the facility to manufacture a new range of distribution transformers, creating over 70 new jobs over three years.

 

United States regulators have approved Nestlé's $2.5 billion (SFr3.3 billion) takeover of Dreyer's Grand Ice Cream, clearing it to become the biggest producer in the world's largest ice-cream market. Under terms set by the US Federal Trade Commission, Nestlé will need to dispose of several smaller brands.

 

McDonald's of Oak Brook, Illinois, the largest American employer in Switzerland, has sold its Golden Arch hotels in Zurich and Lully to the Scandinavian hotel group, Rezidor SAS. The two properties will be integrated in the Rezidor's Park Inn Group and will in the near future operate under the new name.

 

Zurich Financial Services announced the sale of its U.S. subsidiary, Zurich Life, for $500 million to Bank One. Bank One is headquartered in Chicago, the Zurich Life subsidiary in near-by Schaumburg, Illinois. In a separate transaction ZFS also is selling UK fund manager Threadneedle to American Express for a reported £340 million.

 

Julius Baer, Switzerland's biggest independent private bank, will sell 85% of its institutional brokerage arm based in Paris to Lightyear Capital of the US. The move will allow Baer to focus principally on private asset management.

 

Swiss telecom and technology services company Ascom Holding, AG, recently announced two significant contracts. The company said it had won a SFr 67 million contract from the city of Montreal to provide it with fare collection and control systems based on chip-card technology. Separately the company also obtained a ten year contract worth SFr 76 million to outfit the train stations in greater Paris with automated passenger fare systems.

 

Swiss software company Amazys Holding AG (formerly GretagMacbeth) has signed a letter of intent to acquire New Hampshire-based and privately owned Sequel Imaging.

 

Swisscom AG announced that effective immediately flight passengers transiting through Zurich Airport will have access to a Wireless Local-Area Network (a so called "hotspot") to get on the Internet and check e-mail messages.

 

Pierre Mirabaud. One of Geneva's leading private bankers, is to become president of the Swiss Bankers Association, succeeding Georg Krayer, who held the post for eleven years.

 

 

Publicity and Promotion

 

Releases distributed since the last newsletter.

 

May 28 - Antelope Technologies Establishes Manufacturing Plant

June 2 - BIO 2003 Exhibit and Panel Announcement to our bio and pharma lists

June 3 - Six Swiss High-Tech Firms on Tornado Insider's 2003 Annual Listing

July 8 - Elan Microelectronics opens European Headquarters

 

In the queue: Merisant's EMEA Headquarters in Neuchâtel. eBay expansion in Berne, General Mills' European Headquarters in Nyon, and GeoConcept's Swiss office in Geneva.

 

 

 

News from Location Promotion Switzerland