Victorinox Buys Rival Wenger, Rescues Swiss Icon

The two makers of the world-famous red multifunction Swiss pocketknives (with the iconic Swiss flag) and watches have merged. Victorinox AG has bought its smaller rival Wenger SA, the two companies announced April 26. Both Wenger and Victorinox produce Swiss-made watches, sold in the United States under the names, respectively, of Wenger and Swiss Army. The action keeps Wenger from near bankruptcy and ensures that an iconic Swiss product doesn't fall into foreign hands, according to Swiss press reports. Victorinox spokesman Hans Schorno told Reuters news service it would be "unimaginable" if a foreign company bought Wenger and started making the iconic Swiss pocketknives in China or elsewhere. The merger enables Victorinox to strengthen its position in the face of foreign competition and provides Wenger SA with the financial backing it needs to continue its activities and restructu
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