Swiss merger
A merger between Switzerland’s two leading watchmakers has been finalised to create the world’s second largest watch company. The two financially troubled groups, which produce Longines, Tissot, Certina, Omega and Rado watches, have been hard hit by recession and competition from the Far East. Allgemeine Schweizerische Uhrenindustrie and Societe Suisse Pour I’lndustrie Horlogere decided to merge last May when Swiss banks stepped in to save them from bankruptcy in the biggest industrial bail-out in Switzerland’s history.
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Press, 10 December 1983, Page 26
Word Count
78Swiss merger Press, 10 December 1983, Page 26
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