Samick Sold???

Sy Zabrocki only4zab@imt.net
Wed, 25 Apr 2001 20:42:21 -0600


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We've talking about Baldwin's last gasps. Now what's going on at Samick? =
The April issue of Music Trades published the following:

The article states that Gibson Musical Instruments was close to =
acquiring Samick Akki Ltd., the Korean-based manufacturer of Samick and =
Kohler & Campbell pianos and Samick guitars. The article states that =
Gibson is negotiating to buy the majority share of the company from the =
Korea Exchange Bank, Samick's largest shareholder. The purchase price =
was estimated to be $138 million. It is predicted the transaction would =
be completed by early May.

The story has several more paragraphs in the article describing the =
Samick operations.=20

At the NAMM Show in January there were rumors that Samick might be =
interested in Baldwin. Now this news about Samick being sold.=20

Another Music Trades article in March 2001 talks about the proliferation =
of new piano names at the NAMM Show. The article then states that sales =
figures for this year were unlikely to break 100,000 units. Sales in =
1976 were 246,000. Now wonder Kimball, Wurlitzer and others are no =
longer with us.

Sy Zabrocki


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