Joint Press Release
F.A. Porsche Beteiligungen GmbH
International Volant Limited
International Volant Limited
Today, International Volant Limited, a wholly-owned subsidiary of China Haidian, has acquired all shares in ETERNA AG Uhrenfabrik, Grenchen from F.A. Porsche Beteiligungen GmbH.
ETERNA AG is a premium manufacturer of watches, components of watches, clockwork, electronic precision time measuring devices and its components. Oliver Porsche, managing director of F.A. Porsche Beteiligungen GmbH, says that he is very confident that the new owner will continue the determined path ETERNA AG has begun to follow and will further strengthen ETERNA AG’s position as one of the premium manufacturers of watches.
Mr. Hon Kwok Lung, Chairman of the buyer, International Volant Limited, stated that this acquisition is an important step in the strategy of China Haidian to continue its sustainable development in Mainland China and overseas. We believe that mechanical watch movements will more and more become a limiting factor in the watch industry. Therefore, ETERNA AG, being able to manufacture its own mechanical watch movements, is a key addition to the group’s portfolio.
The parties agreed to keep the details of the transaction strictly confidential.
Gevril Group US Agent for Eterna Watches
Gevril Group is the US agent for Eterna Watches. You can email us or call 845-425-9882.
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