General Watch Co
Encyclopedia
General Watch Co. was the watch companies Holding
of ASUAG.
Its mandate was to maintain, improve and develop the Swiss watch industry.
ASUAG also expanded gradually through the purchase of
Eventually, both ASUAG and SSIH faced liquidation: thus, in 1983, “GWC General Watch Co.”, and its affiliated watch brands and factories, were merged with its parent company ASUAG, together with SSIH, into what has now become the Swatch Group, (see: http://www.swatchgroup.com/en/group_profile/history Swatch Group Official History Profile), under the patronage of the Swiss Banks that were at the time financially involved.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
of ASUAG.
History
ASUAG had been founded in 1931, with the assistance of the Swiss Government and the Swiss Banks, to combat the severe economic crisis and ensuing unemployment by means of refinancing (thus eliminate the deadly "dumping for survival" murderous competition witihin the still somewhat "cottage industry"-like status of a majority of the movements and parts thereof supplying companies) and complementary research and development programs in their respective companies.Its mandate was to maintain, improve and develop the Swiss watch industry.
ASUAG also expanded gradually through the purchase of
- further Ebauches manufactures (movement blanks)
- movement parts manufactures (e.g. balance wheels, assortments, rubies) and
- a number of assemblers and manufacturers of complete watches, that were subsequently brought together under the subsidiary “GWC General Watch Co. Ltd.” ] "Manufacturing time", by Amy Glasmeier]:
Afiliated Watch Brands & Companies
- A. Reymond S.A. (Brands: Arsa, Damas and Hoga )
- Atlantic S.A
- CertinaCertinaCertina Kurth Frères SA is a Swiss luxury watchmaker company founded in Grenchen, 1888, by Adolf and Alfred Kurth, and currently an affiliate company of the Swatch Group.-History:...
- Diantus
- Edox
- EnduraEndura Watch FactoryEndura S.A. is Swiss watch manufacturer founded in 1966 by General Watch Company in Biel/Bienne, Switzerland, for the purpose of manufacturing watches under "private label". This company was also part of the merger between ASUAG and SSIH into SMH, now the Swatch Group...
- EternaEternaEterna is a Swiss luxury watch company founded in Grenchen, Canton Solothurn on the 7th of November 1856 by Dr Josef Girard and Urs Schild. They initially specialised in producing pocket watches with alarms. In 1906 the company name changed from U. Schild to Eterna. In 1908 they became the first...
- HamiltonHamilton Watch CompanyThe Hamilton Watch Company was originally formed to produce high quality pocket watches and wristwatches mid-range and luxury. Hamilton would become a corporate conglomerate diversified in other operations...
- LonginesLonginesLongines is a Swiss luxury watchmaker based in Saint-Imier, Switzerland. The company was originally founded by Auguste Agassiz in 1832 and it currently holds the oldest registered logo for a watch company . Longines is currently owned by the Swatch Group.Longines is known for its 'Aviators' watches...
- Microma
- MidoMido (watch)Mido is a luxury Swiss watchmaker company founded in 1918.-History:Mido was founded in 1918 by George G. Schaeren in Biel, Switzerland. Mido comes from the Spanish phrase Yo mido meaning I measure....
- OrisOrisOris is a manufacturer of Swiss luxury wristwatches. The Oris watch factory was founded by Paul Cattin and Georges Christian at Hölstein in 1904...
- RadoRadoAs a Germanic forename, Rado may refer to Rado .Rado or Radó as a surname may refer to:*Alexander Radó , Hungarian-born cartographer and Soviet military intelligence agent...
- RoamerRoamer (watchmaker)- Other Resources :* http://www.watchcarefully.com/articles/roamer.html* http://www.internationalwatchclub.com/roamer-watches/* http://www.artistsguilds.com/watches/Roamer.htm* http://www.fhs.jp/News/Roamer/RoamerE.htm...
- RotaryRotary WatchesRotary Watches Ltd was established at La Chaux-de-Fonds, Switzerland by Moise Dreyfuss in 1895. By the 1920s family members Georges and Sylvain Dreyfuss began importing Rotary watches to Britain, which was to become the company's most successful market...
- TechnosTechnos (watches)-TECHNOS:The trademark ″Technos″ was firstly registered in and used since 1924, with an increasing success, thanks to the quality of its mechanical and automatic watches. After WWII, it has had years of significant market shares, especially in Japan and in Brazil...
Merger with SSIH into SMH
However, it proved difficult to implement a common industrial policy for the subsidiaries concerned. Following repeated crises in the Swiss watch industry, by the 1970s, ASUAG (SSIH as well) were once again in trouble. Foreign competition, in particular the Japanese watch industry, with its mass production of cheap new electronic products and new technology, was rapidly establishing a strong foothold in the market.Eventually, both ASUAG and SSIH faced liquidation: thus, in 1983, “GWC General Watch Co.”, and its affiliated watch brands and factories, were merged with its parent company ASUAG, together with SSIH, into what has now become the Swatch Group, (see: http://www.swatchgroup.com/en/group_profile/history Swatch Group Official History Profile), under the patronage of the Swiss Banks that were at the time financially involved.
Spin Off
Some companies had however beforehand made themselves again independent or having been sold off, e.g.- A. Reymond S.A. August Raymond official website
- Atlantic S.A Atlantic official website
- Edox Edox official website
- Eterna Eterna official website
- Oris Oris official website
- Rotary Rotary Official website
- Technos Technos official website