SUNDAY, JUNE 26, 1977
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GOVERNOR VISITS WATCH FACTORY
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THE GOVERNOR, SIR MURRAY MACLEHOSE, WILL BE PAYING ANOTHER VISIT TO A FACTORY TOMORROW (MONDAY) - HIS SECOND IN LESS THAN A WEEK. THIS TIME, SIR MURRAY VISITS A WATCH FACTORY, REMEX INTERNATIONAL LIMITED, AT WONG CHUK HANG, ABERDEEN.
THE GOVERNOR WILL BE ACCOMPANIED BY THE ACTING DIRECTOR OF COMMERCE AND INDUSTRY, MR. BILL DORWARD, AND A PRINCIPAL TRADE OFFICER OF THE INDUSTRIAL DEVELOPMENT BRANCH, MR. NICHOLAS YEK.
SUCH VISITS ARE UNDERTAKEN BY THE GOVERNOR PERIODICALLY IN ORDER THAT HE MIGHT SEE FOR HIMSELF SOMETHING OF HONG KONG'S INDUSTRIAL PROGRESS AND DEVELOPMENT, AS WELL AS PROBLEMS.
REMEX INTERNATIONAL LIMITED WAS FORMED IN 1968 AND IS A MEMBER OF THE HERALD GROUP OF COMPANIES. IT IMPORTS COMPONENT PARTS OF WATCHES FROM SWITZERLAND, FRANCE AND GERMANY, AND ASSEMBLES THESE INTO COMPLETE MOVEMENTS. ITS ANNUAL PRODUCTION IS APPROXIMATELY 7-1/2 MILLION WATCH MOVEMENTS WHICH IS THE LARGEST PRODUCTION UNDER ONE ROOF - IN QUANTITY - ANYWHERE IN THE WORLD.
THE COMPANY SELLS ABOUT 65 PER CENT OF THE MOVEMENTS TO OTHER HONG KONG WATCH EXPORTERS AND 35 PER CENT TO THEIR OWN SUBSIDIARY, INTERNATIONAL PRECISION TIME LIMITED, WHICH CONVERTS THE MOVEMENTS INTO COMPLETE WATCHES AND EXPORTS THEM.
HONG KONG'S WATCH INDUSTRY HAS EXPANDED RAPIDLY IN RECENT YEARS, AND IS CURRENTLY ONE OF THE FASTEST GROWING INDUSTRIES HERE.
AT THE END OF LAST YEAR, THERE WERE OVER 620 FACTOR IES EMPLOYING MORE THAN 19,000 WORKERS, OR ABOUT 2.5 PER CENT, OF HONG KONG'S INDUSTRIAL WORKFORCE PRODUCING WATCHES, WATCH CASES, DIALS, METAL WATCH BANDS AND ASSEMBLED WATCH MOVEMENTS. AN INCREAS-
ING NUMBER OF FACTORIES ARE ALSO MANUFACTURING ELECTRONIC DIGITAL QUARTZ WATCHES.
IN 1976, HONG KONG'S DOMESTIC EXPORTS OF WATCHES, WATCH PARTS AND ACCESSORIES WERE VALUED AT HK$1,264 MILLION, AN INCREASE OF 72 PER CENT OVER 1975. IN THE FIRST FOUR MONTHS OF 1977 DOMESTIC EXPORTS INCREASED BY OVER 29 PER CENT COMPARED WITH THE SAME PERIOD LAST YEAR.
THE UNITED STATES AND SWITZERLAND ARE HONG KONG'S MAJOR MARKETS. OTHER IMPORTANT MARKETS ARE THE UNITED ARAB EMIRATES, SINGAPORE AND JAPAN.
SIR MURRAY WILL BE MET ON ARRIVAL AT REMEX INTERNATIONAL LIMITED BY THE COMPANY'S CHAIRMAN, MR. GEORGE BLOCH, MR. ADRIAN HOUTZAAGER (DIRECTOR), MR. AUSTIN LEE CHING CHANG (DIRECTOR) AND MR. ROGER TSUI HING SRING (FACTORY MANAGER).
NOTE TO EDITORS:
YOU ARE CORDIALLY INVITED TO SEND A REPORTER AND/OR PHOTOGRAPHER TO COVER THE VISIT. THE GOVERNOR ARRIVES AT THE FACTORY, AT YALLY INDUSTRIAL BUILDING, NO. 6, YIP FAT STREET, WONG CHUK HANG, AT 2.50 P.M. YOU REPRESENTATIVE IS ADVISED TO ARRIVE A LITTLE EARLIER.