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  Swiss Watch News 2004  
Rolex SA And Rolex Bienne
Economic Merger
(April 2, 2004)

 Rolex SA and Rolex Bienne, two companies that have been associated for decades in the production and supply of Rolex movements, have decided in the interest of all of the group's firms, and to ensure their continued existence, to proceed with an economic merger. The operation will take place through the acquisition of a minority shareholding by Rolex SA in Rolex Bienne Holding. Rolex SA will be represented on the Rolex Bienne Holding and Rolex Bienne boards by two directors. At the end of a transition period, Rolex SA, in line with agreements in place, will acquire all of the share capital of Rolex Bienne Holding.

According to the aforementioned agreements, Rolex SA has undertaken to guarantee that the industrial and commercial complex of Rolex Bienne remains located in Biel, at Rolex's sites in Les Champs de Boujean, and that existing jobs will be preserved. Both industrial partners are convinced that the economic merger represents an important turning point, which will further strengthen Rolex's position on the world market.

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Last update : April 2, 2004