In January, Switzerland's central bank abruptly ended its policy of pegging the Swiss franc at 1.20 to the euro, sending a shock wave through the Swiss corporate landscape. The immediate effect was an increase in the Swiss franc's value by about 30%. The Swiss currency peaked at CHF 1.03 to ?1.00 in April and was trading in a steady range of CHF 1.08-1.09 from September to November. How have Swiss companies in the plastics sector reacted to this currency shock? For corporations domiciled in Switzerland, the sudden strengthening of their domestic currency is a problem, especially if they have Swiss manufacturing operations with export sales.
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