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Swatch CEO Warns Strong CHF Endangers Industry: Tages-Anzeiger 2014-01-11 11:48:53.201 GMT
By Andy Hoffman Jan. 11 (Bloomberg) -- Swatch Group AG won’t raise prices for consumers despite strong CHF, CEO Nick Hayek says in interview with Tages-Anzeiger. * CHF is a “latent danger for entire Swiss industry”: Hayek * Swatch won’t outsource parts production to cheaper overseas suppliers: Hayek * Losses of CHF100m in last six months due to exchange rate: Hayek * Workshop fire at Swatch’s ETA unit in Grenchen, Switzerland, will delay delivery of some parts for one to two months: Hayek * Delivery delays will result in provisional sales loss of CHF40m, which will be recovered with later sales: Hayek * NOTE: Futures Traders Trim Bets on Swiss Franc Gain Versus Dollar NSN MZ7D830J1H79 <GO> * NOTE: Swatch Jumps as Outlook Boosts Optimism for China Demand Rebound NSN MZ6S3N6VDKHS <GO>
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--Editors: Anthony Aarons, James Amott
To contact the reporter on this story: Andy Hoffman in Geneva at +41-22-317-9218 or ahoffman31@bloomberg.net
To contact the editor responsible for this story: Thomas Mulier at +41-22-317-9201 or tmulier@bloomberg.net