Patek Philippe: Foundation stone laying ceremony for new building
Patek Philippe celebrated the laying of the foundation stone with the construction of a new building on its manufacturing site in Plan-les-Ouates mid of October, in the presence of around 200 guests. The new building will provide a floor area of about 110,000 m2, half of which is dedicated to production, spread out on six stories as well as four underground levels. When completed in 2018, it will provide space requirements for future development. The new building creates an opportunity to reconsolidate all Geneva-based activities on a single site and is expected to offer sufficient reserves for Patek Philippe's growth in the next 20 to 30 years.
A total of CHF 500 million (CHF 450 million for the construction and CHF 50 million for the production technical equipment) will be invested into this new building, which by 2018 will provide additional space for new activities and the transfer of know-how. The family-owned company is again making a strong commitment to its Geneva origins.