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LORD Corporation*, establishes European headquarters in Geneva

06/04/2009
* a global provider of technologies for the field of aerospace and the automotive industryThe establishment in Geneva of LORD Corporation, a world leader in adhesives, coatings and motion management, was completed following several acquisitions on the continent. It will bring the company closer to its European customers. The Geneva Economic Development Office (GEDO) provided active support during the installation phase. With job creation in an innovative and high added value sector, this project is a strategic one for the canton of Geneva.
Founded in 1924, LORD Corporation is headquartered in Cary (North Carolina, United States). The company specializes in the development, formulation and manufacturing of adhesives, coatings, electronic materials, devices and systems for the management of mechanical motion and soundproofing, as well as products and systems based on magnetic response technology.
A technological leader serving the aerospace and automotive industriesLORD is a diversified technology company with an 80-year history of developing breakthrough adhesive, coating and motion management technologies. The company has production lines in the United States as well as in a number of other countries (Brazil, Germany, India, Italy, Japan, Korea and China), with a staff of approximately 2,600 employees worldwide. A highly innovative company, LORD Corporation makes significant investments in R&D. Notably, LORD is the largest commercial supplier of fluids, magneto-rheological devices (based on Rheonetic™ magneto-rheological fluid).Concentrating technical expertise and moving closer to customersBy establishing its European headquarters in Geneva under the name LORD Suisse Sàrl, LORD Corporation aims to move closer to its customers and to concentrate its European technical expertise within the canton. As Mrs. Sharon Williams, Vice President, Europe of LORD Corporation, says, “Initially, we plan to concentrate specifically on the aerospace industry in Geneva. In fact, we are a major supplier to the rotary propeller aerospace industry. This sector has a strong presence on the European continent.”

The choice of Geneva as site for the European headquarters perfectly reflects the canton’s major assets, such as its favorable geographic location, the quality of its infrastructure, and its international environment. “We evaluated several locations. Since we have one large customer in France and another in Italy, we wanted a neutral territory in proximity to both of them. Other important criteria that influenced our decision were, notably, the pragmatism of Swiss labor law, the availability of a qualified multilingual workforce, and Geneva’s spirit of international open-mindedness – an aspect essential to the establishment of headquarter operations,” commented Mrs. Williams.

Currently, the company employs 13 people in Geneva, half of which were recruited on site. There are plans to eventually create approximately 30 qualified jobs. To this end, LORD is in the process of recruiting several specialized engineers and will proceed to consolidate its technical expertise in Geneva. The company will be also intensifying its contacts with universities and academic-level institutions in the region.
Actively supporting the advancement of the Geneva's economySupported by the Geneva Economic Development Office, since initial contacts in 2006, LORD Corporation has benefited from GEDO’s support for the establishment of headquarters. After supplying detailed information on Geneva and its infrastructure, GEDO set up various opportunities for business connections with local service providers and other companies based in the canton. GEDO's staff also facilitated some essential procedures with other State offices. As Michel Hirsig, Economic Development Officer within GEDO, indicates, “Our goal is clear: it consists in actively supporting any projects bringing high added value to Geneva. This is obviously the case with LORD Corporation coming to Geneva.”
Mr. Pierre-François Unger, State Councillor in charge of the Department of Economy and Health, emphasized the significant contribution LORD Corporation brings to Geneva and its region: “We are talking about a company that has considerable technical expertise and drive for innovation. Our strategy has always been to invest in the development of innovative sectors, which alone can guarantee the competitiveness of our future economy. The establishment of LORD Corporation is, therefore, clearly aligned with our economic development policy. It represents a substantial contribution in terms of new know-how, reinforcing our region’s position in such fields as chemistry and mechatronics. I am convinced that this company’s establishment will contribute significantly to Geneva’s reputation and hope that new collaborative projects will come to light in the region in the coming years.”
For further information please contact:
Geneva Economic Development Office       Daniel Loeffler, Director         Tel: +41 (0)22 388 34 34       daniel.loeffler@etat.ge.ch      www.whygeneva.ch ; www.ge.ch/des LORD Suisse Sàrl     Sharon Williams, Vice President, Europe     Tel: +41 (0)22 761 50 60       Sharon_Williams@lord.com Chemin du Pavillon 2, 1218 Grand-Saconnexwww.lord.com
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