Swatch Acquires Watch Component Firm
June 12, 08
Swiss watch giant Swatch Group announced that it has acquired the remaining shares of Francois Golay SA from its owners Jean-Marc Berney and Yves Berney, a watch wheel and component company, in which it previously held a 35 percent interest.
Jean-Marc Berney will become the managing director of the company, continuing the operational management of the firm. The more than 100 employees will be taken over without charge.
Francois Golay’s clients include Breguet SA, Blancpain SA, Frederic Piguet SA and other Swatch companies.