Citing ‘Structural Disadvantages,' Schoeller Will Shutter Its Switzerland HQ [Yahoo! Finance]
SGS SA ADR (SGSOY)
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Source: Yahoo! Finance
For Schoeller , these upsets rendered producing Switzerland-made specialized fibers impossible. As such, the 155-year-old textile innovator will shutter its Helvetian headquarters by the end of 2025. More from Sourcing Journal Gildan CEO Glenn Chamandy Talks Tariffs in Q3 Earnings Call Halara Unveils YouTube Campaign for Flex Denim Saitex Mill Approved as Bluesign System Partner “Accepting the necessity to cease operations in Sevelen was extremely difficult for us,” said Franz Albers, chairman of the board, in a statement. “In the past years, we have left no stone unturned to make production in Sevelen more competitive.” Located in Sevelen, Schoeller's headquarters include production facilities housing its weaving, dyeing, lamination and coating departments as well as the state-of-the-art research, development and testing laboratory. For its 500-plus partners, Schoeller produces more than 6 million meters of Bluesign-approved performance textiles at this mill and its Bali
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