That's right. G von B's background is primarily in low grade quartz movement manufacturing, and going back a few decades, low grade mechanical movement manufacturing. Movement finishing and watch assembly are other areas in which this company has much experience. Their OEM Swiss generics of 50 years ago were rather nice and sold well in the better department stores in this town.
The von Burg-owned Swissebauches Ltd, Hong Kong, are a major manufacturer of 100% Chinese quartz movements found in many fleamarket-grade watches.
More recently, von Burg's have reinvented themselves as a luxury Swiss maker of automatic chronographs. The old feller had an impressive sounding name and they can cite many decades of watchmaking experience (so long as you don't want to look at the details), and the time was right for another Swiss niche brand at this price point.
There's a lot of money behind this new venture, so they can certainly afford to buy the best and most relevant experience in the industry. Their previous ventures probably have little or no relevance to the quality of the current George von Burg watches.
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