Swatch takes on watch assembly operational activities from July 12.
The Swatch Group has announced that it will take over Tanzarella Ltd.’s watch movement assembly operational activities from July 12.
The two companies signed a contract for the takeover of activities in Riazzino, Switzerland, which involves the transferring of Tanzarella assets to a newly founded Swatch Group Company.
New company Assemti Ltd. will continue to operate from the building used by Tanzarella, which The Swatch Group will be acquiring from Credit Suisse.
The Tanzarella Company employes 236 employees in Riazzino, all of which will continue under Swatch after the takeover.
Former owner Enrico Tanzarella will remain at the company, where he will be responsible for its operation. To date, Tanzarella Ltd. has worked exclusively for ETA SA Manufacture Horlogère Suisse, a company of The Swatch Group Ltd.