Swatch Group acquires dial producer MOM Le Prélet SA
Biel/Bienne and Les Geneveys-sur-Coffrane (Switzerland), October 19, 2006 – The Swatch Group Ltd. acquired with immediate effect 100% of the shares of the watch dial manufacturer MOM Le Prélet SA in Les Geneveys-sur-Coffrane (Switzerland) from the owners, Ms. Monique Giorgis, Messrs. Olivier Schwab and Jean-Marie (Mario) Schwab. Mr. Olivier Schwab, current main shareholder and General Manager will continue to head operations of the new Swatch Group company which employs some 125 persons, thus ensuring the supply to all its present clients within and outside the Swatch Group. The company was founded in 1895 by Kossuth Calame and his four sons. The considerable know-how acquired during more than a century in the manufacturing of top-quality watch dials will adequately complement the segment of the Swatch Group production sector.
This message has been edited by thepurist178 on Oct 19, 2006 11:30 AM