Allgemeine Schweizerische Uhrenindustrie AG (ASUAG;

French French (french: français(e), link=no) may refer to: * Something of, from, or related to France ** French language, which originated in France, and its various dialects and accents ** French people, a nation and ethnic group identified with Franc ...

: ''Société Générale de l'Horlogerie Suisse SA'') was the former biggest Swiss Watch Industry Group that had been created with the assistance of the Swiss Government and the Swiss Banks, as an answer to the crisis caused by the Great Depression, in 1931. In 1983, ASUAG and SSIH were forced by the Swiss Banks to merge into

Société de Microélectronique et d'Horlogerie Société de Microélectronique et d'Horlogerie was the name of the holding company created by the merger enforced by the Swiss Banks in 1983 of the SSIH and ASUAG, renamed The Swatch Group in 1998. Ernst Thomke, previously CEO of Ebauches SA an ...

(SMH), which now has been renamed

Swatch Group The Swatch Group Ltd is a Swiss manufacturer of watches and jewellery. The company was founded in 1983 by the merger of ASUAG and SSIH to move to manufacturing quartz-crystal watches to resolve the quartz crisis threatening the traditional Swi ...

. ASUAG grouped most of the movement parts & Ebauches manufacturers on one side, and through its sub-holding

General Watch Co General Watch Co. (GWC) was the watch companies holding of ASUAG. History ASUAG had been founded in 1931, with the assistance of the Swiss government and the Swiss banks, to combat the severe economic crisis and ensuing unemployment by means of r ...

(GWC); many watch brands on the other side. Most of those companies are still active, integrated into the new conglomerate. During the years of crisis, from 1978 until 1991, Dr.

Ernst Thomke Ernst Thomke (born 21 April 1939) is a Swiss physician and watchmaker. Training first as a mechanic, he later acquired the Swiss federal maturity degree and pursued academic studies whilst in employment. Early life and education Thomke was born ...

was at the helm of the restructuring, first as CEO of

ETA SA ETA SA Manufacture Horlogère Suisse (ETA SA Swiss Watch Manufacturer) designs and manufactures quartz watches and both hand-wound and automatic-winding mechanical and movements. Commonly referred to as ETA, the company is headquartered in Gren ...

, then Ebauches SA, including a mandate as Administrator of ASUAG, and became SMH's first CEO in 1983, a position that he held until 1991. At that time, newly elected President and main shareholder Nicolas G. Hayek had already become the only person of reference.

References

External links

{{Portal, Companies
History of the creation of ASUAG through the association of the Ebauches companies

Free English translation

Swatch Group Official History
Watch manufacturing companies of Switzerland Holding companies established in 1931 Swiss companies established in 1931