29 June 2012 15:33 [Source: ICIS news]
Developments in the European sovereign debt crisis are likely to continue to keep upward pressure on the Swiss franc for a long time to come, trade group scienceindustries, which represents Swiss chemicals and pharmaceuticals firms, said.
The group said that the chemicals and pharmaceuticals industries make the biggest contribution to Swiss exports.
As such, the industries are more affected than others by the ongoing upward revaluation of the Swiss franc, the group said.
“The [enforcement of the] minimum exchange rate will increase the planning reliability of companies,” it added.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy blog
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