Mecap Holding S.A. has announced its acquisition of the Swiza S.A. clock and watch manufacturing company in Delémont, previously owned by Bedonia Holding S.A.

Mr. Arnaud Nicolas has been appointed Managing Director and will take the reins of the Delémont-based company as of July 2009.

Founded in 1904, Swiza specialises in the production of luxury clocks and alarm clocks under its proprietary brands Swiza, Matthew Norman and the recently acquired l'Epée, as well as for a number of prestigious watch brands. The take-over of its activities by the Mecap S.A. holding group, which is solidly implanted within the industrial fabric of the Jura region, corresponds to the latter's wish to reinforce its watchmaking division.

In taking over Swiza S.A., Mecap Holding S.A, which is active in the fields of mechanical engineering, distribution and horology, is acquiring more than a century of horological expertise. The move ensures the continuity of the company thanks to industrial synergies and to the financial support of the new owner, as well as serving to help maintain jobs.

The company presidency is to be taken over by Mr. Sébastien Mérillat, President of the Mecap S.A. holding company. Mr. Giani Dal Busco remains Technical and Production Director. Mr. Pierre Schwab is retiring after 40 years in the service of Swiza S.A. He will continue to advise the new management team in order to ensure an harmonious transition.

Having been informed of the take-over of the company, the staff of Swiza S.A. has expressed its support to the new owner and the management, as well as its confidence in the future of the firm.

Source: Swiza

www.swiza.com

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