| Fri 16 Nov 2007, 8:03 | | RCH - Richemont Securities AG Acquires Watch Compo |
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RCH
RCH
RCH - Richemont Securities AG Acquires Watch Component Manufacturer
RICHEMONT SECURITIES AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
RICHEMONT ACQUIRES WATCH COMPONENT MANUFACTURER
Richemont, the Swiss luxury goods group, is pleased to announce that it has
acquired the watch case manufacturer, Donze-Baume SA in a private transaction
with the family shareholder group.
Donze-Baume SA is based in Les Breuleux in the Jura canton of Switzerland and
has some 300 employees working in the manufacture of watch cases and bracelets.
The company supplies many of the leading Swiss specialist watchmaking companies,
including a number of Richemont`s own Maisons
Both Mr Gerard Donze and Mr Roland Donze will retain their current positions and
will continue to be responsible for the management of the company.
The transaction will have no material impact on Richemont`s consolidated net
assets and is not expected to have any impact on the Group`s profitability for
the year ending 31 March 2008.
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
16 NOVEMBER 2007
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 19.3 per cent
interest in British American Tobacco, one of the world`s leading tobacco groups.
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
Date: 16/11/2007 08:03:01 Produced by the JSE SENS Department.
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