Egana Buys Junghans

November 7, 2000

Egana Buys Junghans

EganaGoldpfeil, a Hong Kong-based luxury goods company, has bought German watchmaker Junghans Uhren for about $39 million. Junghans specializes in radio-controlled watches and clocks, light-powered watches and other quartz watches. Its Junghans and Eurochron brands are among Germany's top watch and clock brands by overall sales.

Junghans, which opened its first U.S. office this year, recently debuted its line of radio-controlled watches in the U.S. through Franconia Industries, Hackensack, N.J. Egana has offices worldwide and produces timepieces for various brand names, including Esprit, Dugena, Pierre Cardin and others.

The purchase will allow Junghans to expand its marketing and sales globally and to increase its women's watch sales, the company says. No change is expected at the U.S. sales office, says Uwe Juergen Bauer, U.S. director. See www.junghans.de for details.

- by Michael Thompson