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ZURICH, Jan 14 (Reuters) - Geberit became the latest Swiss company to be hit by the surge in value of the Swiss franc during 2020, with the plumbing supplies maker reporting on Thursday how the rise in the safe-haven currency during the COVID-19 crisis cancelled out higher sales in other currencies.
The problem is expected to hit other Swiss companies such as foodmaker Nestle and pharmaceuticals firm Roche , which generate most of their revenue abroad but whose reporting currency is the turbo-charged franc.
During 2020 the franc appreciated 3.7% against the euro and 12% against the dollar on average, causing a headache for Swiss companies with their biggest sales in the euro zone and particularly the United States.
LafargeHolcim will be able to fund half of the $3.4 billion price for Firestone Building Products from its existing cash position, Chief Executive Jan Jenisch said on Thursday.