Since its launch, The Market has been searching the stock exchanges of Switzerland, Europe and the USA on a monthly basis for reasonably valued quality companies.

The newcomers are Also, AMS, CPH Chemie + Papier and Tornos. CPH Chemie + Papier is probably the most surprising new entry, as the paper industry is considered to be extremely cyclical. This is all the more true as CPH generates more than half of its sales with press paper and the newspaper industry has suffered massively from the crisis. On the other hand, the Packaging division, which produces blister films for the pharmaceutical industry and contributes not quite 30% to sales, has profited. And in the chemicals division, business with medical oxygens has a stabilizing effect.

Like CPH and Adval Tech, Tornos is controlled by major shareholders and therefore has a low free float. In addition, the three with market capitalization of between CHF 77.5 million (Tornos) and CHF 420 million (CPH) are among the smaller stocks. Accordingly, the securities are traded very little - price limits are imposed on transactions.