Allgemeine Schweizerische Uhrenindustrie AG (ASUAG;
French: ''Société Générale de l'Horlogerie Suisse SA'') was 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 caused by the Great Depression, in 1931.
In 1983, ASUAG and
SSIH were forced by the Swiss Banks to merge into
Société de Microélectronique et d'Horlogerie
Société de Microélectronique et d'Horlogerie was the name of the holding company created by the merger enforced by the Swiss Banks in 1983 of the SSIH and ASUAG, renamed The Swatch Group in 1998.
Ernst Thomke, previously CEO of Ebauches SA and ...
(SMH), which now has been renamed
Swatch Group.
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 active, integrated into the new conglomerate.
During the years of crisis, from 1978 until 1991, Dr.
Ernst Thomke was at the helm of the restructuring, first as CEO of
ETA SA, then
Ebauches SA, including a mandate as Administrator of ASUAG, and became SMH's first CEO in 1983, a 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.
References
External links
History of the creation of ASUAG through the association of the Ebauches companiesFree English translationSwatch Group Official History
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Watch manufacturing companies of Switzerland
Holding companies established in 1931
Swiss companies established in 1931