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All change at Zurich Financial Services

This content was published on Oct 31, 2000 The new group management team consists of the Group Management Board, of which five members, together with Rolf Hüppi, chairman and chief executive, form the executive committee. “The new structure is an important step in creating the platform for an efficient and focused development of our Group,” said Rolf Hüppi. The changes include re-grouping market…

Swiss minister pleads for more public transport

This content was published on Oct 30, 2000 Opening the sixth Alpine conference, Leuenberger said on Monday it was also the only way to prevent a breakdown of the road system. He added that Switzerland alone could not reach its aim of increasing the railways’ share of international freight. He said this is where international accords were needed. The conference, held every two…

Mikron group announces major acquisition plans

This content was published on Oct 30, 2000 It announced on Tuesday it is to issue a public offer for all shares in the Axxicon group of the Netherlands, which has annual sales of SFr130 million ($71.43 million). The purchase price would be around SFr124 million. In a statement, Mikron said that Axxicon was a leading supplier in the production of injection moulds,…

Sulzer Medica posts substantial sales increase in third quarter

This content was published on Oct 30, 2000 The company, based in Winterthur, said operating income before goodwill amortisation and exceptional items increased to SFr54 million, while net income increased by 28 per cent to SFr40 million. In a statement on Monday, Sulzer Medica said it expected the favourable trend top continue in its two main divisions – orthopaedics and cardiovascular prostheses. Last…

Banks to announce new moves to fight money laundering

This content was published on Oct 30, 2000 The package of measures, known as the “Wolfsberg guidelines”, were agreed by the 12 banks in a bid to counter allegations that they are not doing enough to prevent dirty money from entering the global financial system. The banks, together with Transparency International, a pressure group dedicated to fighting corruption, drew up the guidelines. The…

Day gains foothold in British market

This content was published on Oct 30, 2000 A statement said that Day would pay SFr27.8 million ($15.27 million) for the company in cash and shares. Day added that the purchase would accelerate its drive to gain a presence in Britain and in international markets. Founded in 1995 and based in Leamington Spa, MarketingNet has seen annual growth of 100 per cent over…

Mikron group makes major acquisitions

This content was published on Oct 30, 2000 It announced on Monday it is to take over the Axxicon group of the Netherlands, which has annual sales of SFr130 million ($71.43 million). In a statement, Mikron said that Axxicon was a leading supplier in the production of injection moulds, a rapidly growing key market in international plastics processing. Mikron also said it intended…

Credit Suisse announces pay rises

This content was published on Oct 30, 2000 A statement from Credit Suisse on Monday said an agreement had been reached between representatives of the management and staff. The increases are subject to the Agreement on Conditions of Employment for Bank Staff for individual and performance-related pay rises. Under the terms of the accord, there will be a 3.5 per cent increase for…

Business outlook

This content was published on Oct 29, 2000 The foreign exchange markets will be watching the Swiss franc closely in the next few days, following its fall to a 14-year low against the dollar last week. Dragging down the franc is the single European currency, which plumbed new depths against the US dollar. Speculators are betting that the European Central Bank will refrain…

Villiger begins Central Asia tour

This content was published on Oct 29, 2000 The 10-member delegation is due first in the Caucasus republic of Azerbaijan. From there visits are planned to Turkmenistan, Uzbekistan, Tajikistan and Kyrgyzstan. The finance ministry said one of the aims of the visit was to develop closer relations with the countries, which Switzerland represents at the World Bank and International Monetary Fund. Switzerland also…

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All change at Zurich Financial Services

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Swiss minister pleads for more public transport

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Mikron group announces major acquisition plans

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Sulzer Medica posts substantial sales increase in third quarter

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Banks to announce new moves to fight money laundering

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Day gains foothold in British market

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Mikron group makes major acquisitions

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Credit Suisse announces pay rises

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Business outlook

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Villiger begins Central Asia tour

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