Viewing posts categorised under: Business

SIX Startups Collect Accolades in China

by swisschambei in Business

The Great Tech Awards went to Flyability, F&P Robotics, holo|one, Oxyle, STOR-H and SynSense. Presented at the Tech G Shanghai International Consumer Electronics Show, the awards recognise emerging high-tech products that have created a buzz in the professional setting and in consumer minds. Tech G Shanghai International Consumer Electronics Show aspires to become the leading consumer technology event in Asia, showcasing cutting edge products and revolutionary technologies. With over 30’000 visitors awaited, the exhibition also provides companies with a platform to enhance their brands, establish and broaden their business partnerships, and facilitate their cross-border trade in technology. The swisstech pavilion, which aims to raise Switzerland’s profile as an innovative location for business and to promote the visibility of Swiss companies and universities abroad, hosted a cohort of 16 startups. Four joined on-site and 12 startups virtually. Six of the exhibiting Swiss startups won the Great Tech Awards in different categories.

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WinGD Expands Engine Technology Investment with Global Test Centre

by swisschambei in Business

Swiss based marine engine technology developer WinGD continues to invest in its R&D testing infrastructure with the opening of a new collaborative Global Test Centre in Shanghai, China. The new test centre which opened on the 16 December, is a collaboration with CSPI (China Shipbuilding Power Engineering Institute Co., Ltd.) for the advancement of a decarbonized future through sustainable fuel and combustion research and innovation. The role of R&D has come into sharp focus as part of the strategy to help ships reach the IMO’s 2050 target. The success of the industry reaching these targets relies on a focus well beyond alternate fuels. This new Global Test Centre will encompass research and innovation around future fuel propulsion solutions, holistic energy management systems, and power generation based on new energy converters. For the development of new technologies and products, the Global Test Centre comprises of two 2-stroke test engines and several test rigs for the validation of sub-systems such as fuel injection, pumps or gas admission valves. With future demands in mind, testing will focus on new fuels including methanol and ammonia, and on the further development of WinGD’s low pressure dual-fuel technology. The test centre will also be equipped with an electrical grid representing modern vessels, including a DC grid laboratory and dynamometers instead of water brakes, a perfectly suited infrastructure to test and demonstrate hybrid propulsion systems in the future.

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Burckhardt Compression Signs Contract to Equip a Mega-Plant with Three Hyper Compressors in China

by swisschambei in Business

Burckhardt Compression has signed a contract with Jiangsu Hongjing New Material Company Ltd. to equip three production lines for EVA (ethylene-vinyl acetate copolymers) and LDPE (low-density polyethylene) with three Booster-Primary and three Hyper Compressors. The petrochemical mega-plant that is currently being built in Lianyungang, China, will have an output of 600 kilotons per year of EVA/LDPE. The production of EVA (ethylene-vinyl acetate copolymers) and LDPE (low-density polyethylene) is technically highly demanding and requires Booster-Primary and Hyper Compressors as key components. EVA and LDPE are raw materials for products such as foils, electric cables or floor coverings. Specifically, the three 200 kilotons per year photovoltaic class ethylene-vinyl acetate copolymers plants will help to satisfy the worldwide demand for EVA polymer, which, shaped as a film, is used in solar panels as an insulating and sealing agent around the solar cells. Jiangsu Hongjing New Material Company Ltd., a subsidiary of Jiangsu Sailboat Petrochemical Co. Ltd. is a mostly privately-owned company in China that refines petroleum products and manufactures chemical products.

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DKSH Acquires Right Base Chemicals in China, Further Expanding its Performance Materials Business

by swisschambei in Business

DKSH announced that it has signed an agreement for the acquisition of a majority stake in a joint-venture with Chinese specialty chemicals distributor Right Base Chemicals (RBC). The joint-venture is in line with DKSH’s strategy to solidify its leading position in the distribution of specialty chemicals and ingredients in Asia Pacific. RBC primarily distributes additives, resins, and colorants for coating and ink applications. Founded in 1992 and based in Shanghai, RBC and its 60 employees cover the Eastern, Central, and South-Western regions of the Chinese market. Thomas Sul and Natale Capri, Co-Heads Business Unit Performance Materials at DKSH, jointly commented: “China is by far the largest market for chemical distribution in APAC. By acquiring RBC, we are actively driving forward the market consolidation of the specialty chemicals industry. This joint-venture will further strengthen our market coverage of the coatings industry and will provide an extended platform for leveraging our key suppliers portfolio for further industries in China. We are glad to welcome all of RBC’s employees and look forward to growing with them together.” RBC generates net sales of around CHF 25 million¹ at sound profitability and return on capital. Initially, DKSH will acquire a 70% stake in the joint-venture with RBC and the remaining 30% in five years. The joint-venture is expected to be immediately earnings-accretive. Closing of the transaction is expected for the fourth quarter of 2021 and is subject to certain conditions.

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21 Swiss Startups to Take the Stage at China’s Hottest Tech Expos

by swisschambei in Business

21 Swiss startups will be joining the primely-located SwissTech Pavilions at China Hi-Tech Fair from November 17 – 21, 2021 in Shenzhen, and Tech G Shanghai International Consumer Electronics Show from January 13 – 15, 2022 in Shanghai. The world-class Swiss startups will be taking to the stage on-site and online, including seven startups from the Venture Leaders Deeptech 2021 program organized by Venturelab. The 21 participating Swiss startups come from fields of Cleantech, IoT, Vehicle Technology, Robotics, Software, AR/VR, Life Science, Microtechnology, Additive Manufacturing, HealthTech, Environmental Tech, EnergyTech and Neuromorphic Intelligence. The SwissTech Pavilions offer these startups an opportunity to showcase their products and services, to gain quick access to the China market, to raise brand exposure to a huge audience and to make high-quality connections with investors, incubators, partners, manufacturers and customers. “As part of our SwissTech campaign, which aims at raising the awareness of Switzerland as an innovative location, we’re proud to support the work of Swissnex in China and its SwissTech China series,” said Ambassador Nicolas Bideau, Head of Presence Switzerland, the unit of the Swiss Federal Department of Foreign Affairs in charge of promoting Switzerland’s image abroad, “Come and discover groundbreaking innovation under SwissTech Pavilion. The Swiss startups will surprise you by showcasing their pioneering solutions to solve tomorrow’s global challenges.”

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Basel Areal Business & Innovation Welcomes BeiGene to Basel

by swisschambei in Business

The Nasdaq and Hong Kong Stock Exchange-listed company is dedicated to becoming a global leader in the discovery, development and commercialization of innovative, molecularly targeted and immuno-oncology drugs for the treatment of cancer. From its new location in Basel, BeiGene will manage its European clinical trial operations and prepare for the potential launch of its drug candidates outside of Asia. The new presence marks another milestone for BeiGene on its way to becoming a leading global bio-pharma company. Access to a large and highly skilled talent pool, a business-friendly environment and close proximity to the European market were key drivers of BeiGene’s decision to establish operations in Basel. Basel is home to several of the world’s leading oncology companies and a vibrant biotech hub. Many global life sciences companies manage their commercial activities from Basel. BeiGene has a global team of over 1,300 employees, including more than 500 people in its clinical team in China, the United States and Australia. The company has offices in China in Beijing, Guangzhou, Shanghai and Suzhou; in the United States in Cambridge, MA, Ridgefield Park, NJ, and Emeryville and San Mateo, CA; and in Europe in Basel, Switzerland.

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Worg Selects Basel Area for European Headquarters

by swisschambei in Business

Worg Pharmaceuticals has opted to establish its European headquarters at the site Allschwil of the Switzerland Innovation Park Basel Area. The Chinese biopharmaceutical company develops innovative therapies to treat allergies and autoimmune diseases. The Switzerland Innovation Park Basel Area will become the hub for the European activities of Worg Pharmaceuticals AG. Founded in 2018, the Chinese biopharmaceutical company is headquartered in Hangzhou and specializes in the development of innovative therapies to treat allergies and autoimmune diseases. The company is led by a management team from China, the USA and Europe. Business activities in Europe will, according to the company, include both drug discovery and the preclinical and clinical development of the global Worg portfolio. A team of top-class researchers in the fields of chemistry and biology will be formed with the aim of establishing extensive research collaborations with academic institutions across Europe. “Our goal is to bring an IND (Investigational New Drug) candidate onto the market every year”, Worg explains in its company profile.

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Hengrui to Establish Research Center in Greater Zurich

by swisschambei in Business

The Chinese life sciences firm Hengrui Pharma will establish a research and development center in Zurich. According to a press release issued by Steiner AG, the group has decided on Manufakt8048 for its new location, a business park concept which was recently opened this summer and developed by the general contractor. Here, Hengrui Europe Biosciences AG will rent premises covering a total area of roughly 1,260 square meters, the press release explains. “Greater Zurich is the ideal hub for our company’s technical development but also to further advance in the field of life sciences”, comments Slavoljub Milosevic, Vice President, Head of European Research Center, Biologic Drug Discovery at Hengrui Europe Biosciences AG. He adds: “The wealth of talent as well as the high concentration of innovative companies, universities and research institutions have strengthened our decision to establish our company here”. Hengrui is already represented in Switzerland: Hengrui Europe Therapeutics AG, its European headquarters, is based in Basel.

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Switzerland’s Jungfrau Expects More Chinese Tourists

by swisschambei in Business

The Jungfrau Region in Switzerland is looking forward to receiving more Chinese tourists, said Jungfrau Railways CEO Urs Kessler during a recent interview with Xinhua. A well-known scenic spot and snow sports resort, the Jungfrau Region is located in central Switzerland. At 4,158 meters above sea level, it is one of the main summits of the Bernese Alps. Its beautiful glaciers and snow scenes attract tourists from all over the world, and in 2001, UNESCO listed the Swiss Alps Jungfrau-Aletsch as a World Heritage Site. In recent years, Kessler said, Jungfrau Railways has received a large number of Chinese tourists, especially in 2019 before the outbreak of the COVID-19 epidemic. Jungfrau Railways offers an important means of transportation for tourists. Construction began on the pioneering project in 1896, and was completed in 1912. With a total length of 9.3 kilometers, the last station on the line, Jungfraujoch — Top of Europe — is 3,454 meters above sea level, making it the highest railway station in Europe.

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Bank of China Joins Geneva Banking Scene

by swisschambei in Business

With its new Swiss presence, Bank of China intends to play a pivotal role in promoting economic, trade and financial exchanges and cooperation between both countries. Bank of China, one of the country’s four largest state-owned commercial banks, has recently announced completion of the commercial registration of its Geneva branch. In July, the Chinese financial institution was included in the list of authorized banks and securities firms by FINMA, Switzerland’s Financial Market Supervisory Authority. In a press release, the bank said that it will focus on building a bridge for Sino-Swiss trade and investment, providing comprehensive trade finance products and commodity trade financial services to Swiss companies doing business with China and Chinese enterprises in Switzerland. These include food trader COFCO, which established its international HQ in Geneva in 2017, and shipping group COSCO, which followed a year later. In its statement, Bank of China also evoked the history of Sino-Swiss relations : Switzerland was one of the first Western countries to establish diplomatic relations with China and the first continental European country to sign a free trade agreement with China, in 2013. Today, Switzerland is China’s seventh largest trading partner in Europe and China is Switzerland’s largest trading partner in Asia.

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