Press release 27.09.2016

Cendres+Métaux strengthens division for mechanical precision components

Following the strategic realignment of the divisions, this has been followed by the next step in the expansion of the group of companies. Cendres+Metaux Holding SA, based in Biel, has acquired a majority stakeholding in the Biel-based Momo Plus AG, retroactive to 1. July 2016. This acquisition allows the Cendres+Métaux Group to develop the business with precision and micromechanical assemblies in the non-precious metal segment and opens up new opportunities for the cost-optimised production of non-precious metal watch components within the framework of the new Swissness regulations [1].

As announced when communicating the new strategy, the Cendres+Métaux Group plans to strengthen growth particularly in the sector outside the traditional precious metal business. Following the successful realignment of the Cendres+Métaux Group into the C+M Medtech and C+M Luxe & Industry divisions, production in Biel will continue to focus on the manufacturing of demanding mechanical components and assemblies made of precious metals. With the acquisition of the Momo Plus AG, the position of the Division Luxe & Industry in the non-precious metal segment will be strengthened sustainably.

Momo Plus AG has long-standing development and production experience in the field of complex mechanical components for the watch and precision industries outside the precious metal segment. Following many years of development, an in-house, innovative, modular clockwork movement was developed, and this is also part of the acquisition. At the same time, Momo Plus offers a widespread Asian network of suppliers and a profitable customer base, which ideally complement the traditional base of CM Luxe & Industry. The combination between Asian sourcing and Swiss finishing options will allow the cost-optimised production of non-precious metal components within the framework of the Swissness regulations (effective as of 01. January 2017).

 Following the acquisition, the Momo Plus AG will be renamed to Cendres+Métaux Microtech AG, and continue to operate as an autonomous subsidiary within the Cendres+Métaux Group. All employees of the Momo Plus AG will be fully kept on. The founder of the company, Ms Tzuyu Huang, continues as Managing Director.

[1] For further information in the Swissness regulation see: https://www.ige.ch/herkunftsangaben/swissness.html

Contact in case of questions:

Marco Zingg
President of the Board
Delegate of the Board of Directors

27 September 2016

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