Matt UV varnishes are in fashion! Products Editorial - Schmid Rhyner
Matt UV varnishes are in fashion! Products Editorial - Schmid Rhyner
Matt UV varnishes are in fashion! Products Editorial - Schmid Rhyner
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<strong>Editorial</strong><br />
Newsletter 1/March 2009<br />
Dear<br />
Market Partner:<br />
You <strong>are</strong> read<strong>in</strong>g the<br />
first edition of the<br />
COATING Ticker by<br />
<strong>Schmid</strong> <strong>Rhyner</strong>.<br />
What do we want to accomplish with this<br />
newsletter that will be published 2 to 3<br />
times a year? First of all, we'd like to<br />
strengthen our partnership with you by provid<strong>in</strong>g<br />
<strong>in</strong>formation on current topics and<br />
trends concern<strong>in</strong>g <strong>UV</strong>-cur<strong>in</strong>g and aqueous<br />
overpr<strong>in</strong>t <strong>varnishes</strong> and lam<strong>in</strong>at<strong>in</strong>g adhesives.<br />
In this edition, we will answer questions<br />
on the new European REACH regulation.<br />
You will also f<strong>in</strong>d <strong>in</strong>formation on new<br />
<strong>Schmid</strong> <strong>Rhyner</strong> products.<br />
Today, I am pleased to present our new<br />
extra-matt <strong>UV</strong> varnish. With less than 8<br />
gloss po<strong>in</strong>ts and an excellent uniform mattness<br />
level, the WESSCO ® 36.245.15 achieves<br />
especially strik<strong>in</strong>g matt-glossy effects.<br />
Take a look at the pr<strong>in</strong>t sample and read the<br />
field report of Kirchner Pr<strong>in</strong>t.Media.<br />
Another purpose of the COATING Ticker<br />
is to <strong>in</strong>troduce the employees of our company<br />
to you.<br />
The COATING Ticker reflects our optimistic<br />
outlook on the future, <strong>in</strong> spite of the<br />
ubiquitous f<strong>in</strong>ancial and economic crisis.<br />
We <strong>are</strong> conv<strong>in</strong>ced that values like susta<strong>in</strong>ability,<br />
quality, trust and straightforwardness<br />
will cont<strong>in</strong>ue to prevail.<br />
S<strong>in</strong>cerely<br />
Serge Entleitner<br />
PS: For an electronic version of this<br />
newsletter, please visit our website:<br />
www.schmid-rhyner.ch/actual<br />
<strong>Products</strong><br />
<strong>Matt</strong> <strong>UV</strong> <strong>varnishes</strong> <strong>are</strong> <strong>in</strong> <strong>fashion</strong>!<br />
Give your pr<strong>in</strong>t products an especially stylish<br />
look with extra-matt <strong>UV</strong> <strong>varnishes</strong>. For<br />
<strong>in</strong>stance with the new WESSCO ®<br />
36.245.15 extra-matt <strong>UV</strong> varnish with less<br />
than 8 gloss po<strong>in</strong>ts.<br />
We <strong>are</strong> pleased to <strong>in</strong>troduce this<br />
new product:<br />
With over 35 years of experience <strong>in</strong><br />
research and development, we were able to<br />
develop a <strong>UV</strong> varnish with less than 8 gloss<br />
po<strong>in</strong>ts.<br />
WESSCO ® 36.245.15<br />
Extra-matt <strong>UV</strong> varnish for maximum<br />
matt effects, less than 8 gloss po<strong>in</strong>ts!<br />
This varnish was developed <strong>in</strong> response to<br />
the <strong>in</strong>creas<strong>in</strong>g demand for elegant, extramatt,<br />
abrasion-resistant coat<strong>in</strong>gs. The<br />
result: a <strong>UV</strong> varnish that meets the highest<br />
quality requirements <strong>in</strong> terms of maximum<br />
mattness level and uniformity for homogeneous<br />
matt effects. In addition, this varnish<br />
stands out by its excellent adhesion to pr<strong>in</strong>t<strong>in</strong>g<br />
<strong>in</strong>ks. Even difficult <strong>in</strong>k systems and<br />
various plastic foils can be coated with outstand<strong>in</strong>g<br />
results.<br />
Wide range of application<br />
The new WESSCO ® 36.245.15 is suitable<br />
for offset coat<strong>in</strong>g units, flexo units, and for<br />
<strong>in</strong>l<strong>in</strong>e and offl<strong>in</strong>e coat<strong>in</strong>g mach<strong>in</strong>es.<br />
Outstand<strong>in</strong>g quality<br />
The improved product properties, such as<br />
mattness level and uniformity, result <strong>in</strong> a<br />
maximum, unparalleled surface homogeneity<br />
and a very uniform matt effect.<br />
Comb<strong>in</strong>ed with <strong>Schmid</strong> <strong>Rhyner</strong> WESSCO ®<br />
high-gloss <strong>UV</strong> <strong>varnishes</strong>, the WESSCO ®<br />
36.245.15 furnishes fasc<strong>in</strong>at<strong>in</strong>g matt-glossy<br />
effects and paves the way to new <strong>are</strong>as<br />
of application.<br />
Safe and easy to use<br />
Thanks to its constant viscosity dur<strong>in</strong>g process<strong>in</strong>g,<br />
good pumpability and good tolerance<br />
to process<strong>in</strong>g temperatures, the<br />
WESSCO ® 36.245.15 is very easy to use.<br />
The varnish will not thicken dur<strong>in</strong>g process<strong>in</strong>g<br />
and can be stirred up easily.<br />
Excellent abrasion resistance<br />
Another benefit is the good adhesion to<br />
pr<strong>in</strong>t<strong>in</strong>g <strong>in</strong>ks and various plastic foils. The<br />
costs for waste and other defects <strong>are</strong> reduced.<br />
The good slid<strong>in</strong>g properties and abrasion<br />
resistance of the varnish guarantee a<br />
trouble-free conversion of the coated products.<br />
<strong>Schmid</strong> <strong>Rhyner</strong> partnership<br />
<strong>Schmid</strong> <strong>Rhyner</strong> is a dynamic, grow<strong>in</strong>g<br />
company that has been focus<strong>in</strong>g for 35<br />
years on the cooperative development and<br />
manufacture of <strong>UV</strong> and dispersion <strong>varnishes</strong><br />
that <strong>are</strong> ge<strong>are</strong>d to the needs of the market.<br />
Our experts will support you with practical<br />
tips <strong>in</strong> all questions regard<strong>in</strong>g coat<strong>in</strong>g, give<br />
fast and competent advice and help solve<br />
problems.<br />
Contact us!<br />
www.schmid-rhyner.ch/newproducts
Customer portrait<br />
Kirchner<br />
Pr<strong>in</strong>t.Media GmbH & Co. KG<br />
INTERVIEW<br />
<strong>Matt</strong> <strong>varnishes</strong> <strong>are</strong> en vogue, but demand<strong>in</strong>g.<br />
COATING Ticker spoke to Karl-<br />
He<strong>in</strong>z Thiele about his experiences with the<br />
new WESSCO ® 36.245.15 extra-matt <strong>UV</strong><br />
varnish and the formula for success of<br />
Kirchner Pr<strong>in</strong>t.Media GmbH & Co. KG<br />
Pr<strong>in</strong>t shop manager Karl-He<strong>in</strong>z Thiele<br />
was <strong>in</strong>terviewed by <strong>Schmid</strong> <strong>Rhyner</strong> customer<br />
consultant Thomas Koch<br />
COATING Ticker (CT): Mr. Thiele, what<br />
<strong>are</strong> your ma<strong>in</strong> responsibilities as pr<strong>in</strong>t shop<br />
manager at Kirchner Pr<strong>in</strong>t.Media?<br />
Thiele: Manag<strong>in</strong>g the pr<strong>in</strong>t shop, quality<br />
control, human resources plann<strong>in</strong>g, the<br />
coord<strong>in</strong>ation between the <strong>in</strong>dividual departments<br />
and anyth<strong>in</strong>g else <strong>in</strong>volved <strong>in</strong> a<br />
manag<strong>in</strong>g position.<br />
CT: What pr<strong>in</strong>t products does Kirchner<br />
Pr<strong>in</strong>t.Media specialize <strong>in</strong>?<br />
Thiele: Well, 50% of our bus<strong>in</strong>ess volume<br />
is <strong>in</strong> commercial work, 20% <strong>in</strong> label pr<strong>in</strong>t<strong>in</strong>g<br />
for the food and luxury food <strong>in</strong>dustry,<br />
<strong>in</strong>clud<strong>in</strong>g very diverse applications like can<br />
labels and chocolate wrappers. The rema<strong>in</strong><strong>in</strong>g<br />
30% <strong>are</strong> special <strong>UV</strong> applications, i.e.<br />
pr<strong>in</strong>t<strong>in</strong>g on all k<strong>in</strong>ds of non-absorbent substrates.<br />
CT: You have recently begun us<strong>in</strong>g the<br />
WESSCO ® 36.245.15 extra-matt <strong>UV</strong> varnish.<br />
On which major job did you last use it<br />
for surface f<strong>in</strong>ish<strong>in</strong>g?<br />
Thiele: The job was a supplementary part<br />
for an exist<strong>in</strong>g matt-coated, screen-pr<strong>in</strong>ted<br />
display which was used <strong>in</strong> advertis<strong>in</strong>g the<br />
year before. This year, the supplementary<br />
part had to be produced. This part, which<br />
conta<strong>in</strong>ed prices and other product <strong>in</strong>formation,<br />
was offset-pr<strong>in</strong>ted by us. It was<br />
especially important to achieve exactly the<br />
same matt effect as the exist<strong>in</strong>g screen pr<strong>in</strong>t<br />
coat<strong>in</strong>g. That worked out really well with<br />
your varnish. When the parts were glued<br />
together, they matched perfectly. It was a<br />
rather large job, with 20,000 sheets.<br />
CT: What did you like best about the<br />
WESSCO ® 36.245.15 extra-matt varnish?<br />
Thiele: I was impressed with the mattness<br />
level and the very good mechanical resistance.<br />
The scratch resistance is really<br />
excellent.<br />
CT: Which mattness level did you achieve?<br />
Thiele: Accord<strong>in</strong>g to our own measurements,<br />
we achieved between 9 and 10 gloss<br />
po<strong>in</strong>ts. That was exactly the required level<br />
for this job.<br />
CT: How would you rate the properties of<br />
the WESSCO ® 36.245.15 extra-matt varnish<br />
comp<strong>are</strong>d to other matt <strong>UV</strong>-<strong>varnishes</strong>?<br />
Thiele: The matt effect is much better,<br />
more <strong>in</strong>tense, and the mechanical resistance,<br />
that is the scratch resistance, is better<br />
than with any other product I know.<br />
That is especially important for our customers,<br />
because the surface of catalogues is<br />
subject to a lot of mechanical stress, first<br />
dur<strong>in</strong>g process<strong>in</strong>g and then later on when<br />
the customer uses the product.<br />
CT: Where do you see room for improvement<br />
<strong>in</strong> this product?<br />
Thiele: We could imag<strong>in</strong>e an even more<br />
uniform coat<strong>in</strong>g surface.<br />
CT: Your company has received various<br />
quality awards, such as the Druck + Medien<br />
Award 2007 or the silver medal of the <strong>in</strong>novation<br />
award of the German pr<strong>in</strong>t<strong>in</strong>g <strong>in</strong>du-<br />
stry. What is the formula of your success at<br />
Kirchner Pr<strong>in</strong>t.Media, what makes your<br />
company <strong>in</strong>terest<strong>in</strong>g for customers?<br />
Thiele: We can offer a wide range of services.<br />
Whatever is possible <strong>in</strong> offset pr<strong>in</strong>t<strong>in</strong>g,<br />
we can do, not just standard jobs, but<br />
also special applications like non-absorbent<br />
substrates, foils etc. Add to that the overall<br />
structure of our company. Our customers<br />
get more than a pr<strong>in</strong>t product: because the<br />
Kirchner Group <strong>in</strong>cludes an advertis<strong>in</strong>g<br />
agency, we can offer one-stop service, from<br />
the first brush stroke to the f<strong>in</strong>al product.<br />
Mart<strong>in</strong> Kirchner, Manag<strong>in</strong>g Partner<br />
Kirchner Pr<strong>in</strong>t.Media GmbH & Co. KG<br />
Spradower Weg 100<br />
DE-32278 Kirchlengern<br />
With 85 employees, Kirchner Pr<strong>in</strong>t.Media<br />
is one of the lead<strong>in</strong>g companies <strong>in</strong> the<br />
German pr<strong>in</strong>t<strong>in</strong>g <strong>in</strong>dustry.<br />
Found<strong>in</strong>g year: 1937<br />
CEO: Mart<strong>in</strong> Kirchner<br />
Tra<strong>in</strong>ees: 5<br />
Shop floor: 6000 m 2<br />
Pr<strong>in</strong>t<strong>in</strong>g units: 24<br />
<strong>Products</strong>: commercial work, special pr<strong>in</strong>t /<br />
<strong>UV</strong>, POS, silver pr<strong>in</strong>t, labels/wrappers,<br />
packag<strong>in</strong>g, cross media
Current topics: REACH<br />
Us<strong>in</strong>g REACH as a chance<br />
With the implementation of REACH, the<br />
global chemistry <strong>in</strong>dustry is fac<strong>in</strong>g a<br />
decisive change. The effects of the<br />
European chemicals ord<strong>in</strong>ance will<br />
affect nearly all chemical-produc<strong>in</strong>g<br />
companies.<br />
1 December 2008 marked the end of the<br />
first phase of REACH – the pre-registration<br />
of chemical substances with the European<br />
Chemicals Agency (ECHA). Dur<strong>in</strong>g the<br />
six-month period (from 1 June to 1<br />
December 2008), 65 000 companies<br />
applied for approx. 2.75 million pre-registrations,<br />
and roughly 150 000 substances<br />
were pre-registered. In a second phase, the<br />
pre-registered substances must be registered<br />
by 1 December 2010 / 1 June 2013 / 1<br />
June 2018 depend<strong>in</strong>g on their risk potential<br />
and their annual production or import volume.<br />
All substances used by <strong>Schmid</strong> <strong>Rhyner</strong><br />
<strong>are</strong> pre-registered<br />
Among these 2.75 million substances preregistered<br />
with ECHA <strong>are</strong> all those conta<strong>in</strong>ed<br />
<strong>in</strong> <strong>Schmid</strong> <strong>Rhyner</strong> products – if they<br />
needed to be pre-registered. Overall,<br />
<strong>Schmid</strong> <strong>Rhyner</strong> has pre-registered nearly<br />
100 substances.<br />
No obligation to register for <strong>Schmid</strong><br />
<strong>Rhyner</strong>'s EU customers<br />
To guarantee legal certa<strong>in</strong>ty to our EU customers,<br />
we have pre-registered all raw<br />
materials procured from the EU aga<strong>in</strong> (see<br />
box). This means that our EU customers <strong>are</strong><br />
regarded as downstream users for all<br />
<strong>Schmid</strong> <strong>Rhyner</strong> products and <strong>are</strong> therefore<br />
exempt from the obligation to register, even<br />
if they work as importers. In early 2009, we<br />
will provide our direct customers with a<br />
document as evidence of their status as<br />
downstream users – just <strong>in</strong> case the national<br />
REACH enforcement authorities demand<br />
such evidence.<br />
<strong>Schmid</strong> <strong>Rhyner</strong> is represented<br />
by Chemservice<br />
S<strong>in</strong>ce we <strong>are</strong> a Swiss company and therefore<br />
a non-EU manufacturer, we have authorized<br />
Chemservice (www.chemservicegroup.com)<br />
to act as our exclusive representative.<br />
Chemservice is an <strong>in</strong>dependent<br />
service provider <strong>in</strong> chemicals law with<br />
offices <strong>in</strong> Germany and Luxemburg and<br />
will answer our customers' questions on<br />
REACH: <strong>in</strong>fo@chemservicegroup. com.<br />
As an <strong>in</strong>dependent company, Chemservice<br />
can also pre-register raw materials for<br />
<strong>Schmid</strong> <strong>Rhyner</strong> after conclud<strong>in</strong>g nondisclosure<br />
agreements with the raw material<br />
suppliers; <strong>in</strong> this case, <strong>Schmid</strong> <strong>Rhyner</strong><br />
will not ga<strong>in</strong> any knowledge of the secret<br />
raw materials formulations.<br />
No SVHC <strong>in</strong> <strong>Schmid</strong> <strong>Rhyner</strong> products<br />
On 28 October 2008, ECHA published the<br />
first list of 15 substances of very high concern<br />
(SVHC) for the authorization process:<br />
http://echa.europa.eu/chem_data/ candidate_list_en.asp.<br />
These substances will probably<br />
disappear from the market <strong>in</strong> the<br />
medium term, or they will only be available<br />
under very tight restrictions. None of these<br />
substances is conta<strong>in</strong>ed <strong>in</strong> the <strong>Schmid</strong><br />
<strong>Rhyner</strong> formulations.<br />
Safe and eco-friendly handl<strong>in</strong>g of<br />
chemicals<br />
Together with our exclusive representative<br />
Chemservice we <strong>are</strong> tackl<strong>in</strong>g the next phase<br />
of REACH, the registration of our substances.<br />
In future, companies that want to market<br />
chemicals <strong>in</strong> the EU will have to prove<br />
their safety <strong>in</strong> a strict roadmap. Safe and<br />
ecologically friendly handl<strong>in</strong>g of our substances<br />
and products <strong>in</strong> the entire valueadded<br />
cha<strong>in</strong> is a very great concern to us.<br />
That is why <strong>Schmid</strong> <strong>Rhyner</strong> has prep<strong>are</strong>d<br />
well for the new, complex legislation.<br />
<strong>Schmid</strong> <strong>Rhyner</strong> supports the aim of<br />
REACH, i.e. protect<strong>in</strong>g the environment<br />
and people's health through an approval<br />
process for chemicals. We see REACH as a<br />
chance. The products certified through the<br />
REACH registration will be entitled to<br />
carry a seal of approval for ecological and<br />
health compatibility – and not just <strong>in</strong><br />
Europe.<br />
What is REACH?<br />
REACH is the acronym for Registration,<br />
Evaluation, Authorisation and Restriction<br />
of Chemicals. It is an EU chemicals ord<strong>in</strong>ance<br />
that entered <strong>in</strong>to effect on 1 June<br />
2007. As an EU ord<strong>in</strong>ance, REACH is<br />
equally and directly enforceable <strong>in</strong> all<br />
member states. The ma<strong>in</strong> objectives of<br />
REACH <strong>are</strong> the improvement of health and<br />
environmental protection from dangers<br />
posed by chemicals, the promotion of alternative<br />
test<strong>in</strong>g methods, the free movement<br />
of chemical substances on the EU domestic<br />
market and the improvement of competitiveness<br />
and <strong>in</strong>novation.<br />
Background <strong>in</strong>formation<br />
Reimport under REACH<br />
The regulation on the reimport of chemicals<br />
shows that the <strong>in</strong>terpretation of the<br />
REACH ord<strong>in</strong>ance alone may cause significant<br />
additional work. Accord<strong>in</strong>g to article<br />
2(7) of REACH, all registered substances<br />
that <strong>are</strong> exported from the EU and then<br />
reimported <strong>are</strong> regarded as registered.<br />
In a strict <strong>in</strong>terpretation, this means that<br />
only pre-registered substances must be preregistered<br />
aga<strong>in</strong> by the importer when they<br />
<strong>are</strong> reimported. As a result, the EU customers<br />
of a Swiss company (which uses substances<br />
from the EU), for <strong>in</strong>stance, <strong>are</strong> no<br />
longer regarded as downstream users of<br />
these substances, but as importers.<br />
However, this only applies to pre-registered<br />
substances, not to registered ones – s<strong>in</strong>ce<br />
the latter <strong>are</strong> regarded as registered accord<strong>in</strong>g<br />
to REACH article 2(7).<br />
In view of the purpose of the REACH ord<strong>in</strong>ance,<br />
this <strong>in</strong>terpretation seems very questionable,<br />
s<strong>in</strong>ce it suggests<br />
that a pre-registration <strong>in</strong> the transitional<br />
period is sufficient <strong>in</strong>stead of a registration.
REACH (cont<strong>in</strong>ued)<br />
Associations, legal experts and REACH<br />
helpdesks sh<strong>are</strong> these doubts and believe<br />
that article 2 (7) should also be applied to<br />
pre-registered substances and that consequently,<br />
such substances should be regarded<br />
as pre-registered at the time of reimport.<br />
S<strong>in</strong>ce the view of the ECHA commission<br />
did not become public until shortly<br />
before the end of the pre-registration deadl<strong>in</strong>e,<br />
many companies were not prep<strong>are</strong>d<br />
for the new situation.<br />
A f<strong>in</strong>al decision will probably be made <strong>in</strong><br />
the courts, i.e. at the European Court of<br />
Justice.<br />
Introduc<strong>in</strong>g<br />
Joachim Lachmann<br />
Sales Manager<br />
Reimport-problem<br />
No registration<br />
required<br />
Dear<br />
market partners:<br />
On 1 July 2008 I<br />
jo<strong>in</strong>ed the <strong>Schmid</strong><br />
<strong>Rhyner</strong> family.<br />
After an <strong>in</strong>tensive<br />
and very <strong>in</strong>formati-<br />
ve orientation period, I took over the<br />
management of Sales at the beg<strong>in</strong>n<strong>in</strong>g of<br />
this year.<br />
Allow me to <strong>in</strong>troduce myself.<br />
Pre-registration<br />
required<br />
I was born <strong>in</strong> the early 1960's and, after the<br />
end of my secondary school education,<br />
went on to study chemistry. In the next few<br />
years, my c<strong>are</strong>er was not untypical for a<br />
chemist: <strong>in</strong> a large chemicals company, I<br />
worked my way through Research and<br />
Development, Production, and Sales<br />
Support. With the relocation to a mediumsized<br />
company, I was able to break <strong>in</strong>to<br />
Sales. I am married and have a 7-year-old<br />
son. In my free time, I love work<strong>in</strong>g out <strong>in</strong><br />
the fresh air of the mounta<strong>in</strong>s. Fortunately,<br />
Switzerland offers many possibilities <strong>in</strong><br />
this regard. I am look<strong>in</strong>g forward to the<br />
challeng<strong>in</strong>g work as Sales Manager at<br />
<strong>Schmid</strong> <strong>Rhyner</strong>, and to meet<strong>in</strong>g you <strong>in</strong> person.<br />
<strong>Schmid</strong> <strong>Rhyner</strong> goes west<br />
In late May 2008,<br />
<strong>Schmid</strong> <strong>Rhyner</strong> (USA),<br />
Inc. was founded as a<br />
100% subsidiary of<br />
<strong>Schmid</strong> <strong>Rhyner</strong> AG.<br />
This is another step <strong>in</strong> our <strong>in</strong>ternational<br />
expansion scheme.<br />
<strong>Schmid</strong> <strong>Rhyner</strong> (USA) is headquartered <strong>in</strong><br />
Marlton, New Jersey and headed by Ms.<br />
Monika Reg<strong>in</strong>a. Market research has<br />
shown that <strong>Schmid</strong> <strong>Rhyner</strong> products <strong>are</strong><br />
competitive <strong>in</strong> the USA <strong>in</strong> spite of the weak<br />
dollar, and that our excellent quality is<br />
appreciated by US customers as well.<br />
To be able to offer optimum service to our<br />
local customers, <strong>Schmid</strong> <strong>Rhyner</strong> (USA),<br />
Inc. has a distribut<strong>in</strong>g w<strong>are</strong>house and is<br />
build<strong>in</strong>g a sales organization.<br />
New labels<br />
In the course of the next weeks, we will<br />
provide our products with newly designed<br />
labels. By design<strong>in</strong>g separate labels for<br />
WESSCO ® and GALACRYL ® products,<br />
we want to improve the legibility and make<br />
our products easier to handle and to dist<strong>in</strong>guish.<br />
We <strong>are</strong> also plann<strong>in</strong>g to make the product<br />
designation on the labels more <strong>in</strong>formative.<br />
All pack<strong>in</strong>g units with GALACRYL ® <strong>varnishes</strong><br />
and adhesives will receive the new<br />
blue label.<br />
Pack<strong>in</strong>g units with WESSCO ® <strong>varnishes</strong><br />
and adhesives will receive the new red<br />
label.<br />
Tradeshow calendar<br />
GULF PRINT 09<br />
6 - 9 April 2009<br />
Airport Expo, Dubai, UAE<br />
<strong>UV</strong> DAYS<br />
15 - 18 June 2009<br />
IST METZ GmbH, Nürt<strong>in</strong>gen, DE<br />
PRINT 09<br />
11 - 16 September 2009<br />
Chicago, IL, McCormick Place, USA<br />
We look forward to see<strong>in</strong>g you at our<br />
booth!<br />
Such is life<br />
Impr<strong>in</strong>t<br />
Damn! Stocks,<br />
stocks! Noth<strong>in</strong>g<br />
but stocks!<br />
Published by:<br />
<strong>Schmid</strong> <strong>Rhyner</strong> AG<br />
Editor: Samuel Mösli<br />
Soodr<strong>in</strong>g 29<br />
CH-8134 Adliswil-Zürich, Switzerland<br />
Phone +41(0)44 712 64 00<br />
This newsletter is also available onl<strong>in</strong>e:<br />
www.schmid-rhyner.ch/actual