Allgemeine Gesellschaft der schweizerischen Uhrenindustrie AG
Encyclopedia
Allgemeine Schweizerische Uhrenindustrie AG (ASUAG) (in French
: Société générale de l'industrie horlogère suisse SA) is the former biggest Swiss Watch Industry Group that had been created with the assistance of the Swiss Government and the Swiss Banks, as an answer to the crisis called upon by the Big Depression, in 1931.
1983, « ASUAG » and (SSIH), then the second most important holding company with Omega and Tissot
were forced by the Swiss Banks to merge into Société de Microélectronique et d'Horlogerie
(SMH
), which now has been renamed Swatch Group (see http://www.fundinguniverse.com/company-histories/The-Swatch-Group-SA-Company-History.html )
ASUAG grouped most of the movement parts & Ebauches manufacturers on one side, and through its sub holding General Watch Co
(GWC
); many watch brands on the other side. Most of those companies are still being active, integrated into the new conglomerate.
During the years of crisis, since 1978 until 1991, Dr. Ernst Thomke
was at the helm of the restructurings, firstly as CEO of ETA SA, then Ebauches SA, including a mandate as Administrator of ASUAG, and became SMH
's first CEO in 1983, position that he held until 1991. At that time newly elected President and main shareholder Nicolas G. Hayek had already become the only person of reference.
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
: Société générale de l'industrie horlogère suisse SA) is the former biggest Swiss Watch Industry Group that had been created with the assistance of the Swiss Government and the Swiss Banks, as an answer to the crisis called upon by the Big Depression, in 1931.
1983, « ASUAG » and (SSIH), then the second most important holding company with Omega and Tissot
Tissot
Tissot is a luxury Swiss watchmaker company founded in 1853 by Charles-Félicien Tissot and his son Charles-Émile Tissot who established the Tissot factory in the Swiss city of Le Locle, in the Neuchâtel area of the Jura Mountains....
were forced by the Swiss Banks to merge into Société de Microélectronique et d'Horlogerie
Société de Microélectronique et d'Horlogerie
Société de Microélectronique et d'Horlogerie was the original name of the new holding company issued from the merger enforced by the Swiss Banks in 1983 of both the SSIH and ASUAG, now Swatch Group ....
(SMH
SMH
-Hospitals:* Sarasota Memorial Hospital in Sarasota County, Florida* Scripps Mercy Hospital in San Diego, California* St. Michael's Hospital, Toronto in Ontario, Canada* St...
), which now has been renamed Swatch Group (see http://www.fundinguniverse.com/company-histories/The-Swatch-Group-SA-Company-History.html )
ASUAG grouped most of the movement parts & Ebauches manufacturers on one side, and through its sub holding General Watch Co
General Watch Co
General Watch Co. was the watch companies Holding 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 General Watch Co. (GWC) was the watch companies...
(GWC
GWC
GWC may refer to:* Gambian Workers' Confederation, a trade union center in the Gambia* General Watch Co Watch Sub-Holding Company of ASUAG, now integrated into the Swatch Group* George Washington Cable* George Washington Carver...
); many watch brands on the other side. Most of those companies are still being active, integrated into the new conglomerate.
During the years of crisis, since 1978 until 1991, Dr. Ernst Thomke
Ernst Thomke
Dr. Ernst Thomke was born on 21 April 1939 in Biel/Bienne Canton of Berne, on the Franco-German linguistic border. His father was a practicing physician. First a trained mechanic, he acquired the Swiss federal maturity degree and pursued academic studies, while in employment...
was at the helm of the restructurings, firstly as CEO of ETA SA, then Ebauches SA, including a mandate as Administrator of ASUAG, and became SMH
SMH
-Hospitals:* Sarasota Memorial Hospital in Sarasota County, Florida* Scripps Mercy Hospital in San Diego, California* St. Michael's Hospital, Toronto in Ontario, Canada* St...
's first CEO in 1983, position that he held until 1991. At that time newly elected President and main shareholder Nicolas G. Hayek had already become the only person of reference.
External links
- http://www.invenitetfecit.com/fabricants/page-ETA.html History of the creation of ASUAG through the association of the Ebauches companies
- http://swisswatchguy.blogspot.com/ Free English translation
- http://www.fundinguniverse.com/company-histories/The-Swatch-Group-SA-Company-History.html History of the Swatch Group
- http://www.swatchgroup.com/en/group_profile/history/yesterday/swatch_group_history_yesterday Swatch Group Official History