Historic German Watchmaking Town Ravaged by Floods

Glashütte, the historic German watchmaking town, and facilities of several prestigious watch brands located there were ravaged by the torrential rains and floods that devastated eastern Germany, Austria, and the Czech Republic in August. News reports said recovery in Germany alone could cost $20 billion, the biggest rebuilding effort since World War II. Initial estimates of damage to Glashütte's watch companies totaled at least $1.2 million, according to JCK's interviews with various officials. Some companies resumed watch production, though, within a week after the devastation. Glashütte, a valley town of about 2,500 residents, is south of Dresden, in Saxony. Upscale and luxury watch companies there include Lange & Co., which makes A. Lange & Söhne (owned by the Richemont Group); Glashütter Uhrenbetrieb, which makes Glashütte Original and Union Glashütte (owned by The

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