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Article: Swiss firms merge to withstand see-saw economy and competition. (Albrecht & Morgen AG, Hausammann & Moos AG, Walser AG)
- Article from:
- Daily News Record
- Article date:
- July 6, 1987
CopyrightCOPYRIGHT 1987 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Swiss Firms Merge to Withstand See-Saw Economy and Competition ZURICH, Switzerland (FNS) -- Three Swiss textile companies are merging as a safeguard against continued currency fluctuations and sharpened foreign competition.
The companies, Albrecht & Morgan AG of St. Gallen, Hausammann & Moss AG of Weisslingen, and Walser AG of Herisau, are based in eastern Switzerland near Zurich.
The merger will combine companies that specialize in fabric production, printing and finishing. A main reason for the move, the companies said; is the fall in the U.S. dollar against the Swiss franc, which has all but doubled the cost of Swiss goods in the U.S. and other ...