Swatch Group acquires Tanzarella business

Number one watchmaker in the world has just bought ticinia company Tanzarella, active in the assembly of watch movements. The Swiss group, of Bienne origin, will takeover all the 236 employees who work in the Riazzino / Locarno area.

The acquisition will involve a transfer of assets into a new company that Swatch Group created under the name Assemti, Swatch Group said in a statement. The building used by Tanzarella, owned by Credit Suisse, will also be taken by the group.

The current owner, Enrico Tanzarella, will remain within the company as operations manager. Tanzarella already worked exclusively for the company ETA, a subsidiary of the Swatch Group.