| Mon 17 Sep 2007, 7:30 | | RCH - Richemont Securities AG - Richemont acquires |
|
RCH
RCH
RCH - Richemont Securities AG - Richemont acquires component manufacturing
operations of manufacture Roger Dubuis SA
RICHEMONT SECURITIES AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
RICHEMONT ACQUIRES COMPONENT MANUFACTURING OPERATIONS OF MANUFACTURE ROGER
DUBUIS SA
Richemont is pleased to announce that the Group has concluded an agreement with
the well known Geneva watch company, Manufacture Roger Dubuis SA.
The transaction involves the purchase by Richemont of the component production
facility of Roger Dubuis. The facility currently manufactures movement kits for
Roger Dubuis` Poincon de Geneve watch movements, which Richemont will continue
to supply to Manufacture Roger Dubuis SA, under the terms of a long-term
agreement.
Manufacture Roger Dubuis SA, which was founded and is managed by Mr Carlos Dias,
will continue to operate as an independent manufacturer and distributor under
the `Roger Dubuis` brand. In addition to the supply agreement, Richemont will
distribute Roger Dubuis watches in some key markets, including the USA and the
Middle East.
In order to cope with the increased demand of components for high end watch
movements, not only for Roger Dubuis but also for Richemont`s own Maisons, the
Group hopes, over time, to extend the production capacity at the Meyrin facility
in Geneva. Some 200 employees will be transferred to the Group and the number is
expected to grow, as the business develops.
Further Information:
Press enquiries: Mr Alan Grieve
Director of Corporate Affairs
Tel. +41 22 721 3507
Analysts` inquiries : Ms Sophie Cagnard
Head of Investor Relations
Tel. +33 1 5818 2597
Richemont owns a portfolio of leading international brands or `Maisons`, which
are managed independently of one another, recognising their individuality and
uniqueness. The businesses operate in five areas: Jewellery Maisons, being
Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of
Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine
Panerai and A. Lange & Sohne; Writing instrument manufacturers - Montblanc and
Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel;
and Other businesses, which includes, specifically, Chloe as well as other,
smaller Maisons and watch component manufacturing activities for third parties.
In addition to its luxury goods business, Richemont holds a 19.2 per cent
interest in British American Tobacco.
Compagnie Financiere Richemont SA
50, Chemin de la Chenaie CH-1293 Bellevue - Geneva Switzerland
Telephone +41 (0)22 721 3500 Telefax +41 (0)22 721 3550 www.richemont.com
17 September 2007
Date: 17/09/2007 07:30:00 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
