Complex sentence: Instead, the First Moscow Watch Factory scaled-down production, with some of its property and machinery sold to Company Volmax, and introduced a new, upmarket, brand, Golden Poljot.
Split into simpler sentences: Instead, the First Moscow Watch Factory scaled-down production, with some of its property and machinery sold to Company Volmax. Alongside Poljot-branded products, the First Moscow Watch Factory introduced a new, upmarket brand, Golden Poljot.