Yamaha buys Bosendorfer

[Michael Magness]

On Feb 6, 2008 12:50 AM, Richard Brekne <ricb at pianostemmer.no> wrote:

> This came up about a month or so back... didnt know it was a final deal.
> There was another company in the picture and it still seemed a bit up in
> the air.
>
> Cheers
> RicB
>
>
>    Hey guys. I just read that Yamaha has bought Bosendorfer. You
>    probably already knew this, but it's news to me. Any comments?
>  Gerald McC
>



> You remembered right Ric but apparantly they were wrong or premature in
> their report! This is what was reported at the time.
>

Piano Maker Bösendorfer Sold
By Matthew Westphal
November 19, 2007
The fabled Austrian piano manufacturer Bösendorfer has been sold for just
under €11 million, according to the Austrian national broadcaster ORF and
Deutsche Presse-Agentur. The purchaser, Brodmann Pianos of Vienna, beat out
rival Yamaha Pianos of Japan.
Bösendorfer — whose instruments have been considered to rank at the highest
level of quality, alongside those of Steinway, Bechstein and Pleyel — has
been struggling financially in recent years, with a loss of €2 million in
2006 and accumulated debt of €8 million, according to DPA.
The Austrian banking group BAWAG acquired Bösendorfer in 2001 for about
US$25 million; the sale of the piano maker follows the purchase of BAWAG by
the US hedge fund Cerberus earlier this year.
Brodmann Pianos was founded by Joseph Brodmann, who was the teacher of Ignaz
Bösendorfer. The apprentice acquired his master's company and created
Bösendorfer Pianos in 1828 (though the two firms subsequently split).
Brodmann's current chief, Christian Höferl, is a former Bösendorfer sales
executive.
According to DPA, Bösendorfer staff demanded guarantees that manufacturing
operations would not be moved abroad, maintaining that the Austrian
provenance of the company's pianos is an integral part of their identity.

Mike
-- 
Age is an issue of mind over matter. If you don't mind, it doesn't matter.
Michael Magness
Magness Piano Service
608-786-4404
www.IFixPianos.com
email mike at ifixpianos.com
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