Progress Watch Corporation (PROW), reports that following its success at the watch shows in Basel and Geneva in April, it has received confirmation of a further contract for its exclusive three-axis START Tourbillon movement. The contract is for delivery of movements over a minimum of a 3-year period.
Progress Watch now has four agreements with exclusive watch manufacturers for delivery of its exclusive and innovative START movement. Progress Watch now holds an order reserve exceeding 10 million Swiss francs.
The management of Progress is in the final stages of several other negotiations with clients, and expects these negotiations to result in further contracts in the near future. Several new watch manufacturers have approached Progress for the use of its START movements, as well as for the development of other ‘Haute Horlogerie’ watch concepts.
Progress Watch has extended the number of variants offered to customers, and currently offers five variants of its START Tourbillon movement. Further variants with additional functions are under development. These expanded designs are being developed to satisfy the different luxury watch brands’ increasing demand for unique and individual features.
The management of Progress Watch has decided to relocate its prototyping and assembly arm, Calibrum SA, from La Chaux-de-Fonds to its extended premises in Murten, to significantly improve the company’s flexibility to respond to the high demands of the luxury watch industry.
The highly sophisticated mechanical movements are entirely manufactured in Switzerland and meet the highest standards of the ‘Haute Horlogerie’ brands.
Progress Watch Corporation (PROW) is a company dedicated to independently provide high end, innovative, reliable, stable, flexible and unique Swiss made mechanical watch movements to the elite of the Swiss watch industry.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under the Company's control which may cause actual results, performance, achievements of the Company to be materially different from the results, performance of expectations implied by these forward-looking statements. These factors include, but are not limited to, the limited liquidity and the limited operating history of the Company.
Contacts:
Peter T. Gschwind, President
Tel.:
+41-79-322 6541
Fax: +41-26-670 0934
info@progresswatch.com
www.progresswatch.eu
