Economic Swiss Time Holding was a consolidated organization of Roskopf watch makers. Included in this group were Agon, Basis, Buler, and Ferex. The company was headquartered in Basel and directed by Max Thommen of Basis and Walter Rüfli of Buler. This was a defensive move, as Roskopf watches were losing ground to cheaper Asian alternatives. The company set up a new factory at Reinfelden and workshops at Arzo to reduce Swiss labor costs. By 1969, the Continental brand was also part of ESTH.