Switzerland machinery industry is the most competitive in the world, particularly in the field of textile and printing industries. In 2015, the country was among the ten largest machinery exporters across the globe. As per the FDFA Communication, in 2015, more than 2,500 companies were working in machinery industry, which consists of major players including Georg Fischer, ABB, Alstom, Sulzer, Liebherr, Bucher Industries, Schindler, and Bühler Holding. However, the Switzerland machinery industry is currently facing production shortage and supply chain disruption due to the COVID-19 outbreak. In several locations, the machine manufacturers have halted production amid lockdown effect, which in turn, leads to the decline in order intake and sales. For instance, Bucher Industries recorded net sales of nearly $730 million in the first quarter of 2020, a decline of 14.9% from the first quarter of 2019. The company temporarily halted some of their production at several locations and facing supply chain interruptions resulting due to the implemented lockdown in several countries. As the company is a provider of agriculture machinery, impact on agriculture sector due to COVID-19 may have a significant impact on the company’s operations during the period. The OMR report titled “Impact of COVID-19 on Switzerland Economy” has provided the pre and post COVID-19 revenues along with industry verticals analysis. Several authentic sources are used to properly estimate the effect of the outbreak on the Switzerland economy and values are derived accordingly.
Swiss pharma company to produce COVID-19 vaccines
On 1st May 2020, Moderna, the US company developing experimental vaccines, entered into partnership with Lonza AG, Swiss pharma company, to produce Moderna’s vaccine (mRNA-1273) against novel coronavirus. The global presence of Lonza will efficiently allow production of up to 1 billion doses of mRNA-1273. Under the agreement, these companies will set up production at Lonza’s facilities in the US and Switzerland to produce mRNA-1273. In June 2020, technology transfer is expected to commence, and the first batches of the vaccine will begin in July 2020 at the US facility of Lonza.
OMR Global recently published report on https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-switzerland-economy
The Report Covers
- Comprehensive research methodology of the pre and post-COVID-19 impact on Switzerland economy.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Switzerland economy.
- Insights about market determinants which are stimulating the Switzerland economy
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Verticals Affected Most
- Energy
- Healthcare
- Aviation
- Machinery and Equipment
- Metal
- Others (IT and Telecom)
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-on-switzerland-economy
Company Profiles
- ABB Ltd.
- Addex Pharmaceuticals Ltd.
- Digitec Galaxus AG
- F. Hoffmann-La Roche AG
- GeNeuro SA
- Lonza Group AG
- Nestlé S.A.
- Novartis International AG
- Schindler Management Ltd.
- Stimit AG
- Swiss International Air Lines AG
- Swisscom AG
