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[[File:Synchron logo.png|right|100px]]
:See Also: [[Chronos Holding]][[File:Synchron logo.png|right|100px]]
'''Synchron''' was a Swiss holding company under [[ASUAG]] containing [[Ernest Borel]], [[Cyma]] ([[Tavannes Watch]]), and [[Doxa]] from [[1968]] to [[1980]]. [[Auréole]] joined in [[1975]] but the holding company declared bankruptcy just three years later and was soon liquidated.
'''Synchron''' was a Swiss holding company under [[ASUAG]] containing [[Ernest Borel]], [[Cyma]] ([[Tavannes Watch]]), and [[Doxa]] from [[1968]] to [[1980]]. [[Auréole]] joined in [[1975]] but the holding company declared bankruptcy just three years later and was soon liquidated.



Revision as of 01:28, 17 November 2024

See Also: Chronos Holding

Synchron was a Swiss holding company under ASUAG containing Ernest Borel, Cyma (Tavannes Watch), and Doxa from 1968 to 1980. Auréole joined in 1975 but the holding company declared bankruptcy just three years later and was soon liquidated.

History

The massive ASUAG holding company included many Swiss watch brands from its founding in 1932, and acted to protect the industry throughout the coming decades. In 1966, ASUAG created Chronos Holding to manage new acquisitions, including the recently-defunct Cyma-Tavannes brands and a stake in Gruen. Another failing brand, Ernest Borel, was modified into a holding company known as Synchron on December 18, 1968. This soon absorbed Cyma along with Doxa.

Ernest Borel was the successor to Borel et Courvoisier, founded in 1859 as a premier finisher and distributor of high-end watches. Cyma sprung from the Tavannes Watch operation, founded in 1862. It was a pioneer in mechanized production of watch components. Doxa was founded in 1889 by Georges Ducommun and was known as Jacques Nardin from 1936.

Synchron was created to leverage economies of scale among these mid-priced watchmaking firms. While Ernest Borel was the root firm, the company quickly merged with Cyma and Doxa on March 27, 1969. Cyma was the larger firm, with over 12 million francs in assets but nearly as much debt. Doxa had assets of 6.6 million francs and 5.6 million francs of debt. The net value of the firm was 2.375 million francs. The board of directors was composed of Jean-Louis Borel, president. Erwin Schnegg, managing director. Jean Hegetschweiler, Louis Huguenin, Pierre Nicollier, Jean Perrin, Raoul de Perrot, Pierre Renggli, Ami Scholler, Claude Schwob, and Charles Veillon. André Theurillat was general manager, while Eric Perrenoud, Marcel Germond, Claude Schwob, Jean Robert, Francis Schwob, and Marcel Bouverat were directors, while Paul-Ed. Henry, Hans-R. Knoepfel, Maurice Sauser, Frédy Vallon, and Henri Leuenberger were deputy directors.

The group introduced the low-priced Conquistador brand in 1970. Synchron rationalized marketing, product lines, and production in 1973, bringing all brands under one roof in Le Locle.

Throughout the 1970's, the Synchron name was used in public advertisements to support the three brands, Cyma, Doxa, and Ernest Borel. Auréole joined Synchron on April 30, 1975.

But the quartz crisis of that decade led to the decline of the Swiss watch industry. Synchron was in crisis in 1977 and declared bankrupt by a judge on March 7, 1978. Cyma was sold to a private investor in 1978 and moved to the Doxa factory in Le Locle. Around 1980, ASUAG sold Synchron and the two remaining brands. The final liquidation of Synchron SA was completed in November 1986.

Note: Contrary to the current Doxa web site FAQ, Girard-Perregaux, Zodiac, and Eberhard & Co. were not part of the Synchron group, though the latter two companies were part of Communauté d'Horlogerie de Précision (CHP), which also included Chronos Holding.

Membership

Synchron was owned by Chronos Holding. It was part of Communauté d'Horlogerie de Précision (CHP), though this organization did not own the group.

Timeline

  • 1968, December 18 - Ernest Borel & Cie SA of Neuchâtel changes its company name to Synchron SA
  • 1969, March 27 - Synchron SA is established in Neuchâtel; the company's goal is "manufacture and sale of watches and stopwatches of all kinds"
  • 1969 - Kurt Bächler was appointed deputy director with a collective signature of two
  • 1969, November - Manufacture des Montres Doxa SA is officially dissolved; the creditors having been disinterested, having obtained collateral or having accepted the merger, the company is deregistered
  • 1969, November - Cyma Watch Co SA in La Chaux-de-Fonds merges with Tavannes Watch Co in Tavannes; Cyma takes over the assets and liabilities of Tavannes Watch Co, both the assets and to the liabilities of 4,684,400.56 francs; at the same time, Cyma Watch Co SA merges with Synchron SA, Fabriques d'Horlogerie Réunies; Synchron SA takes over the assets and liabilities of Cyma Watch Co SA; Cyma Watch Co SA is dissolved; the creditors having been disinterested, having obtained collateral or having accepted the merger, the company is deregistered
  • 1970, April - The signatures of director Claude Schwob, and André Jeannet, and Georges Nidegger are erased; deputy directors Maurice Sauser and Hans Rudolf Knoepfel are appointed directors; Paul-André Fallet and Pierre Henzi are appointed as proxy
  • 1970, October 1 - The workers' fund of Ernest Borel changes its name to Fonds de Prévoyance en Faveur du Personnel de Synchron SA
  • 1971, July - Charles Veillon has passed away; Erwin Schnegg is no longer on the board; The signatures of director Eric Perrenoud, deputy director Henri Leuenberger, and proxy Pierre Henzi are deleted; André Theurillat has been appointed managing director
  • 1972, February - The signatures of directors Marcel Germond and Francis Schwob and deputy directors Kurt Baechler and Fredy Vallon and proxy Maurice Lutz are deleted
  • 1972, April 7 - Following the general meeting administrator Louis Hugenin resigned; Jean Matthey and Roger Petremand were appointed as credentials
  • 1972, June - Administrator Ami Scholler has resigned from the board of directors
  • 1973, March - Deputy director Marcel Bouverat is appointed director
  • 1973, April 26 - The Ducommun-Nardin Fund establishes a foundation to rescue widows and orphans of employees and workers of the former Manufacture des Montres Doxa SA; the board is appointed by the board of Synchron SA; the committee is composed of president Jean-Louis Borel, vice-president André Theurillat, and secretary/treasurer Marcel Bouverat
  • 1975, March - President Jean-Louis Borel and directors Raoul de Perrot, Pierre Nicollier, and Pierre Renggli have resigned; former director Jean Hegetschweiler becomes president; Jean-François Krebs becomes vice-president; Roger Anker is named member
  • 1975, April 30 - Following its general meeting, Aureole merges with Synchron SA; Synchron takes over, on a universal basis, the assets and liabilities of the Compagnie des Montres Auréole SA and the company is dissolved
  • 1975, July - Administrator-delegate André Theuillat becomes administrator; Jean-Frarçois Krebs gains signature of two; Adolf M. Schütz is appointed Director General
  • 1975, December - Tell-Edouard Pochon, Fritz Baumgartner, and Michel Gaille are appointed power of attorney
  • 1976, November - Director Maurice Sauser is appointed deputy director-general; Serge Bourquin is appointed with a collective signature of two; the signatures of directors Marcel Bouverat and Hans-Rudolf Knoepfel, deputy director Paul-Edouard Henry, and Tell-Edouard Pochon are deleted
  • 1977, January- Fritz Baumgartner's power of attorney has been deleted
  • 1977, November 7 - A suspension of 4 months is granted to Synchron under bankruptcy court in La Chaux-de-Fonds
  • 1978, February - The signatures of Director-General Adolf M. Schütz, and Director Jean-Robert, and the power of attorney of Serge Bourquin are deleted
  • 1978, March 7 - By judgment of the Neuchâtel Cantonal Court, an agreement is approved for abandonment of assets between the company and its creditors; the liquidation commission is composed of Louis Genilloud and Maurice Favre; the signatures of president Jean Hegetschweiler, vice-president Jean-François Krebs, deputy director general Maurice Sauser, as well as the powers of attorney of Jean Alpers, Paul-André Fallet, Jean Matthey, Roger Pétremand, and Michel Gaille are removed; the unsigned administrators Jean Perrin and Roger Anker are removed; the company name is changed to Synchron in Liquidation
  • 1979, February 3 - The liquidation commission calls for creditors to come forward
  • 1986, November - The liquidation of Synchron SA being completed, this company is deleted