Minsk watch factory sold out to Switzerland's Franck Muller
The state-owned Minsk Watch Factory (Luch) has been sold out to the Swiss company Franck Muller, reports AFN. The information about the deal was voiced this week by the factory's management during a meeting with senior managers. But no details of the deal were revealed. There are rumors that everyone older than 35 will be fired.
The conditions of the deal were made public in October 2009 when Alexander Lukashenka and a representative of the Swiss company visited the factory. For two years Franck Muller has employed nearly 700 people and upgraded the production line with investments reaching $10 million. It is yet to be known of the previous conditions were met during this sale.
The conditions of the deal were made public in October 2009 when Alexander Lukashenka and a representative of the Swiss company visited the factory. For two years Franck Muller has employed nearly 700 people and upgraded the production line with investments reaching $10 million. It is yet to be known of the previous conditions were met during this sale.
