Word: horloger
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...year real gross national product is expected to rise about 2% in Switzerland, v. 6% or more in the U.S., West Germany and France. Bankruptcies have increased, and some of the country's largest companies, including Alusuisse (aluminum) and Société Suisse pour 1'Industrie Horlogère (watches), ended last year...
...There were people in Switzerland who thought one could never do away with the hands on a watch," admits Georges-Adrien Matthey, director general of Société Suisse pour l'Industrie Horlogère S.A. (S.S.I.H.), which makes Omega and Tissot watches. Result: of the more than 4 million digital watches produced in the world last year, fewer than 500,000 were made in Switzerland...
Pierre Waltz, 40-year-old chief executive of the $142-million-a-year Société Suisse pour l'Industrie Horlogère (SSIH) has made pulses tick faster throughout the Swiss watch industry. In the two years since he took over at SSIH, which makes Omega, Tissot and other watches, he has fired hundreds of workers to cut costs, merged with the country's major producer of inexpensive watches to meet increasing competition from the U.S. and Japan, bought out one U.S. firm (Hamilton) and entered into a joint venture with another (Optel, a liquid-crystal...
Pierre Waltz of Switzerland's Société Suisse pour I'Industrie Horlogère, a holding company of watch manufacturers, warned: "We have to assume President Nixon's good faith internationally. But we have also to add that if he does not succeed, this country will almost certainly go protectionist." Gerrit Wagner agreed: "We should take back to Europe a message that though the situation is serious, the U.S. has the best intentions. However, if it is confronted with a choice between a national and an international solution, it will opt for the national...
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