One of the most deeply-held myths about Gruen is that Gruen and Rolex at one time manufactured movements for each other's watches. Both firms did use some of the same movements—the best known examples are the Gruen Techi-Quadron and its twin, the Rolex Prince. In reality, these movements were manufactured by a third company, Aegler, who was a very close neighbor to the Gruen Precision Factory.
Gruen and Rolex were Aegler's biggest customers, and were both large shareholders as well—the full company name at one time was, Aegler, Societe Anonyme, Fabrique des Montres Rolex & Gruen Guild A. Gruen and Rolex both occasionally showed pictures of the huge Aegler factory in their advertising, making the implication that this was a Gruen- or Rolex-owned facility, although ownership at the time was divided among Gruen, Rolex and Aegler itself. Gruen sold their Aegler shares in the 1930s, after they moved all production to the Precision Factory. After this time, Aegler became increasingly tied to Rolex through the sale of stock. Today, the main Rolex building in Biel is the old Aegler factory, and though it is now owned by Rolex, it is still run by the Aegler family.
This article taken from Complete Price Guide to Watches, American Wriswatches, Rolex Wristwatches: Best of Time and Gruen Master Book and Dr Ranfitt Website about the movement
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