VAT

IFBC was mandated to assess VAT’s FX management. In particular VAT’s structural currency risk affecting the income statement and the CTA as well as the hedging process of future cash flows were analyzed. Based on this, specific recommendations for actions were formulated. VAT is a global leader in the design and manufacture of vacuum valves, multi-valve modules and metal bellows. The group is headquartered in Haag (Switzerland) and employs approximately 1,200 people worldwide.