The Swiss group SWATCH (turnover of CHF 3.6 billion in 1999), the world's largest in watch maker, acquired GLASHÜTTER UHRENBETRIEB GMBH (turnover of DM 23 million for the 1999 financial year with around 10,000 watches produced annually), a German manufacturer of high quality mechanical watches for an undisclosed amount, but which would be close to CHF 50 million.