Progress Watch continues its expansion - acquisitions and new company formations

With its most recent acquisitions and investments in new subsidiaries, Progress Watch, based in Biel, Switzerland, has laid the cornerstones not only for high-performance production but also for a Centre of Competency in the field of mechanical watch movements.
Within the framework of its strategy - among other things the development of a group structure with the target of strengthening its innovative capabilities, the expansion of production and new services in the field of mechanical watch movements - Progress Watch has made the following acquisitions and set up two new subsidiaries:

Corporate acquisitions:

Aigat SA/Claude Lehnherr SA (stamping, laser welding and wire erosion)
UF Microtechnique SA (micro-technical components for high-quality mechanical watch movements)
Ind'M SA (development, innovation and technical design of watch movements)
Conseilray SA ( (microtechnology)

New companies:

Progress Watch Asia Ltd., Hong Kong, will introduce the Progress Watch products in Asia and offer sales and after-sales services on the Asian market
Spir-it AG will help improve the supply of important components to the watch industry as a whole and to the Progress Watch Group in particular.

Within a short period of time, Progress Watch has succeeded in establishing a centre of competency for its own needs and services as well as for third parties. This new association of companies with their own circles of clients and a vast potential of know-how and innovative strength can implement and provide faster and better solution for the entire watch industry.

According to Progress Watch's Press release
Biel, 2 October 2000