Swatch snaps up watch case firm

Swatch Group is buying high-end watch case maker Simon Et Membrez for an undisclosed sum, the group announced yesterday, in a deal that will improve its own production division. Simon Et Membrez, with 250 employees, will continue to trade under its name and will also carry on supplying third parties. The deal also includes a 60 per cent stake in the related case polishing company, Termiboites SA, which has 50 employees.