20 MANUFACTURING europa star The watch market was regaining steam and the art of mechanical timekeeping was again in the public’s eye. Very rapidly, the demand increased, to such a point that, in 1992, they needed additional financing to enlarge the company and continue their adventure. But the banks, like they are today, were not ready to loan money. It was Audemars Piguet who came to the rescue. The brand was ready to supply the needed capital to develop their company but on condition that it obtain 52 per cent of the shares. The deal was made and, in 1996, Dominique Renaud sold his remaining shares and moved to the south of France. Then Robert Greubel, who still owned 4 per cent, decided to launch his own company and sold his shares to Audemars Piguet, which today owns 78.4 of Renaud & Papi.The remaining 20 per cent are still held by Giulio Papi with the small 1.6 per cent in the hands of Fabrice Deschanel, General Manager of Renaud & Papi. MILLENARY by Audemars Piguet In spite of the fact that the majority of the company is owned byAudemars Piguet, which plays the role of manufacturer for research and development, Renaud & Papi maintains total freedom to work for third parties. “Ideally, our order book is divided 50/50: half for Audemars Piguet and half for other brands,” explains Papi.And among these other brands is the very successful Richard Mille, for which Renaud & Papi “did practically everything”. Veritable industrial tool Today, Renaud & Papi employs 150 people in Le Locle, working in facilities that are similar to their principal supporter: rigorously organized, ultra-functional, but warm and friendly. It is quite impressive. This veritable industrial tool allows Renaud & Papi to master the milling of its plates in all types of materials— even very hard ones—as well as to cut out its gears, screws, column wheels, barrels and all circular parts. It also has mastered the creation of the axes, pivots, teeth and pinions, as well as the electro-erosion of the levers, cams and springs. It also fabricates all its fitting tools and prototypes. Situated in a single location, this impressive array of computer-controlled equipment is connected to other departments by a long hallway. The main building groups together the technical bureau (eight people working in development) and the very important procedures office. Both are directly attached to an office dealing with reliability whose task is to anticipate problems and analyse their source when they arise as well as to an office handling technical and aesthetic controls, in which each piece spends a minimum of one month. Next door is a specialized atelier whose main
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