Zurich - Omega watch manufacturer Swatch has decided to continue producing its line of watches in its home country of Switzerland. However, due to high-quality products and a notable reputation, the Swiss watch industry is flourishing even though the franc has risen.
Swatch Group SA (UHR.VX), the world's largest watchmaker, intends to keep production in Switzerland despite the strength of the franc, its chief executive was quoted as saying.
Due to the strong franc, some companies in Switzerland have warned they may have to move production abroad in a bid to lower their costs.
"We want to keep the companies, the jobs and the production in Switzerland," Swatch Group CEO Nick Hayek was quoted saying in a preview of Thursday's edition of Handelszeitung.
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