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Hamburg/ Dresden (pte038/12.03.2003/14:10) - German chip producer Infineon http://www.infineon.com may soon be moving its headquarters to Switzerland.
Chairman of the board Ulrich Schumacher plans to complete negotiations with tax authorities in six months and present concrete proposals for the foreign relocation of the company's headquarters by the end of the year.
According to an initial report by WirtschaftsWoche (WiWo) http://www.wiwo.de , Schumacher is reviewing several models for a future company structure, as well as three location options.
Schumacher said Switzerland ranks at the top of the list of European countries, "as many other large groups have already moved there". The second choice is Southeast Asia, in particular Singapore, which is close to important purchaser markets. According to Schumacher the USA are the least likely of the three main options, but would offer the best access to capital markets.
Infineon expects to save several hundred million euros by relocating its headquarters abroad, and hopes this measure will help it secure jobs in Germany in the long term. About 300 managers will be affected by the changes.
Schumacher recently spoke out in support of a more consumer-orientated approach at the ICT World Forum, which is taking place in Hannover on the occasion of the CeBIT 2003 trade fair http://www.cebit.de .
In a next step, Infineon plans to make the transition from a components producer to a supplier of systems and solutions - a step Schumacher considers important in light of the break-up of existing revenue chains and the rise of new forms of cooperation.
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