The symmetrization map $\pi:\mathbb C^2\rightarrow \mathbb C^2$ is defined by $ \pi(z_1,z_2)=(z_1+z_2,z_1z_2). $ The closed symmetrized bidisc $\Gamma$ is the symmetrization of the closed unit bidisc $\overline{\mathbb D^2}$, that is, \[ \Gamma = \pi(\overline{\mathbb D^2})=\{ (z_1+z_2,z_1z_2)\,:\, |z_i|\leq 1, i=1,2 \}. \] A pair of commuting Hilbert space operators $(S,P)$ for which $\Gamma$ is a spectral set is called a $\Gamma$-contraction. Unlike the scalars in $\Gamma$, a $\Gamma$-contraction may not arise as a symmetrization of a pair of commuting contractions, even not as a symmetrization of a pair of commuting bounded operators. We characterize all $\Gamma$-contractions which are symmetrization of pairs of commuting contractions. We show by constructing a family of examples that even if a $\Gamma$-contraction $(S,P)=(T_1+T_2,T_1T_2)$ for a pair of commuting bounded operators $T_1,T_2$, no real number less than $2$ can be a bound for the set $\{ \|T_1\|,\|T_2\| \}$ in general. Then we prove that every $\Gamma$-contraction $(S,P)$ is the restriction of a $\Gamma$-contraction $(\widetilde S, \widetilde P)$ to a common reducing subspace of $\widetilde S, \widetilde P$ and that $(\widetilde S, \widetilde P)=(A_1+A_2,A_1A_2)$ for a pair of commuting operators $A_1,A_2$ with $\max \{\|A_1\|, \|A_2\|\} \leq 2$. We find new characterizations for the $\Gamma$-unitaries and describe the distinguished boundary of $\Gamma$ in a different way. We also show some interplay between the fundamental operators of two $\Gamma$-contractions $(S,P)$ and $(S_1,P)$.

Comment: A few typos got fixed. 16 pages