Swatch Group announced yesterday that the Swiss Competition Commission (COMCO) has opened a new investigation against ETA Manufacture Horlogère SA. The Swatch Group statement notes that this is not the first time that the COMCO has investigated a company of the Swatch Group, and that the Swatch Group is confident that the results of this investigation will again be positive for ETA (a reference to an investigation in 2003 that was resolved by an agreement between ETA and COMCO).
The Swatch Group announcement goes on to state:
“However, the timing for such an investigation seems unfortunate. Since approximately one year, the majority of the external ETA clients have massively cancelled or postponed their orders, without any consideration for the ETA personnel, its infrastructure nor the investments which have been considerable also at ETA due to the continuous pressure of the COMCO as a consequence of the complaints from third parties.
(Ad hoc translation from the German original)
Source: Swatch Group official website
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