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Watch maker Swatch develops synergies in non-watchmaking sector

12
Aug '05
Worldwide leading watchmaking/microelectronics company Swatch Group enhanced synergies in the non-watchmaking sector.

In order to fully exploit the synergies within The Swatch Group Ltd, it has become necessary to restructure some of the Group's electronics businesses. In view of this, Swatch Group SA has decided to reorganize the operations of Omega Electronics. This company, active in the non-watchmaking sector, is part of the Swatch Group's "Electronic systems" division.

The sports business will be merged with Swiss Timing's sports activities and all the employees will be transferred.

The RFID (Radio Frequency Identification) business will be merged with EM Microelectronic-Marin's activities. All the jobs affected will be transferred.

The P.I.S. (Passenger Information Systems) business will be taken over by the Swiss company PEL Passenger Electronics SA in Biel/ Bienne. All employees affected will be transferred to the new business.

PEL is a new Swiss company belonging to Mr. R. Kossatz, owner of the German company Fernmeldewerk München-Aubing GmbH (FW).

Swiss Timing, a company in the Swatch Group, is the world leader for timekeeping at Olympic, international and top-level national sporting events.

EM Microelectronic-Marin, a company in the Swatch Group, is a world-class specialist offering high-tech solutions for energy-saving circuits and low-power products.

Largest finished watches producer Swatch Group Ltd is in Biel (Switzerland) today the largest producer 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 reporting units.

The Swatch Group Ltd


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