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Swatch, Timex acquire new companies

October 24, 2006

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Biel, Switzerland—The Swatch Group and the Timex Group have both announced recent business acquisitions.

The Swatch Group acquired watch-dial manufacturer MOM Le Prélet SA on Oct. 19 from its owners, Monique Giorgis, Olivier Schwab and Jean-Marie Schwab.

Olivier Schwab, the current general manager, will continue to head operations of the company, which employs about 125 people, ensuring that the supply to its present clients will go uninterrupted.

Timex Group purchased Vincent Bérard, a producer of mechanical timepieces designed by Vincent Bérard.

As part of the acquisition, Timex Group will provide Bérard access to its global distribution arms, extending his reach into global markets.
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