After days of chatter and rumours, the first official communiqué from the Roger Dubuis maison regarding the latest corporate transformation has arrived.
PRESS RELEASE
The Board of Directors of Manufacture Roger Dubuis SA, unanimously elected at the recent General Assembly, decided to sell its micro-mechanical component production plant to Manufacture Genevoise de Haute Horlogerie SA, a 100%-owned subsidiary of the Richemont Group.
Through a long-term agreement on the supply of its components, the Roger Dubuis manufacture retains its full capabilities for the creation, development, assembly and production of watch movements with the quality hallmark of the Hallmark of Geneva.
The Roger Dubuis manufacture remains an entirely independent entity and its founder Carlos Dias remains the majority shareholder and will continue as Chief Executive Officer.
In addition, the agreement with the Richemont Group also allows the Roger Dubuis manufacture to benefit from both the group's distribution network in some major countries and territories, notably the United States and the Middle East, and its production capacities for certain components.
This partnership has also stabilised the financial situation of the Roger Dubuis manufacture, providing it with the means of production and distribution necessary for its future development, and guaranteeing and preserving the continuity of the company while safeguarding the interests of its employees, creditors and shareholders.
Meyrin, 17 September 2007
