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ETA SA Management transfers operations from Malaysia to Thailand

Jun '05
ETA SA stated it will move its operational unit form Malaysia to Thailand.

Against the background of falling prices for movements in the lowest cost category for the Asian market which ETA currently still serves with steadily diminishing quantities and turnover from Zhuhai (China), the ETA SA management has decided to adjust the production of components for these local movements. The greatly reduced, residual production of the ETA Division at Micromechanics (M) Sdn. Bhd. in Ipoh (Malaysia) is therefore to be transferred to the ETA Thailand site in Bangkok.

Around 500 employees in Ipoh (Malaysia) will be affected by the measures taken on the basis of this capacity reduction. Action is to begin immediately to reduce the workforce with a view to complete the process by the end of 2005.

A social plan has been drawn up for the staff concerned. In addition, help will be available to them to find new jobs

The Swatch Group Ltd. in Biel (Switzerland) is today the largest manufacturer and distributor of finished watches in the world. In terms of sales (in Swiss francs) the Swatch Group represents some 25% of the watch production sales in the world. In 2001 the Group produced some 114 million watches, movements and stepping motors, with yearly sales of 4182 million Swiss francs. The Swatch Group has 160 production centers situated mainly in Switzerland, but also in France, Germany, Italy, USA, Virgin Islands, Thailand, Malaysia and China - over 440 repoeporting units.

The Swatch Group Ltd

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