Tuesday, April 26, 2005

Victorinox Buys Wenger

The Real Deal: Swiss Army Knife
The Real Deal: Swiss Army Knife,
originally uploaded by romangame.
Finally we can end all discussions about which one is the real deal: They both are. Smaller, family-run Wenger is bought by Victorinox. The latter is still owned by descendants of Carl Elsener, the inventor of the all-purpose knife. And no, he is not my great great great grandfather, although both our families are citizens of Zug.

DELEMONT, Switzerland Victorinox, of Swiss army knife fame, has purchased its rival manufacturer. The two companies say Victorinox will purchase the smaller, family-run Wenger firm.
The decision gives a needed boost, as both companies have been struggling with slumping sales of Swiss army knives since Nine-Eleven. Airport screeners have been confiscating anything sharp or pointed, including nail files.
The two firms say Wenger needed greater financial backing to restructure and to return to profitability for next year. Wenger will not cut jobs and operations will remain in its current location. The two companies make about 25-point-seven (m) million knives between them each year.

Copyright: Associated Press


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