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.
Swatch Group: Additional members named to the Executive Group Management Board and to the Extended Group Management Board Biel/Bienne (Switzerland), July 17, 2019 - The Board of Directors of the Swatch Group made the following appointments to its Executive Group Management Board and the Extended Group Manage-ment Board: Peter Steiger, Chief Controlling…
Group net sales of CHF 4 078 million, -3.7% at constant exchange rates compared to a very strong previous year, and -4.4% at current rates. Operating result of CHF 547 million, -13.0% to the previous year. Operating margin amounted to 13.4% versus 14.7% in the previous year. Net income of CHF 415 million, -11.3% to the previous year, with a net margin of…
Swatch Group: Decisions taken by the Swatch Group shareholders at the Ordinary Assembly General Meeting of Thursday, May 23, 2019 at the Tissot Velodrome in Grenchen, Switzerland. At its today's Ordinary Assembly General Meeting, the shareholders of the Swatch Group Ltd. approved all proposals submitted by the Board of Directors with a large majority (…