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Re: Future of B&H. Is this true?

To: <brass-band@xxxxxxxxxxxxxx>
Subject: Re: Future of B&H. Is this true?
From: "Gareth Haines" <gareth@xxxxxxxxxxxxx>
Date: Tue, 5 Dec 2000 10:39:05 -0000
Reply-to: "Gareth Haines" <gareth@xxxxxxxxxxxxx>

WIth regards ownership of B&H the reverse is true. For Many years a
controlling interest in B&H was held by a US (familly owned) publisher -
Karl Fischer.

Karl Fischer decided to sell its controlling shares last year (creating
speculation in the city that companies such as EMI  might bid for the
company - and its rich publishing rights)

To prevent this B&H engineered something called a reverse takeover - meaning
it now owns Karl Fischer. So instead of being owned by a US publisher B&H
now owns a US publisher !.

In terms of ownership, anybody owning more than 4% of the company is listed
in the published accounts - and it's mostly UK institutions such as pension
funds. Therefore in a nut shell you own it !

With regards UK operations  the company is looking at relocating its UK
base - as its current factory is located on valuable resedential land in
north London , and is not best suited for modernisation. Flute manufacturing
has been moved to Germany, but it looks likely that a new UK factory &
distribution centre may be built sometime in 2001.

Perhaps the US ownership rumour has something to do with the recent press
reports / statements from B&H about financial problems with its US
subsidiary near Chicago. The company recently had to write off a good deal
of money on bad debts and obsolete stock.

Hope the above alleviates your fears.
I personally thing a move to new premises will be a very positive move in
the long run.

Gareth Haines
Normans

>
>I hope I'm not spreading unfounded rumours, but someone in the retail music
>trade has told me that Boosey and Hawkes (now apparently American owned) is
>closing its entire British operation. Assuming that includes the Edgware
>factory, what will happen to the supply of brass band instruments?
>Can anyone confirm or deny this info?
>
>
>Andy.
>
>
>
>
>--
>
sponsors
vetted
>
>njh@xxxxxxxxxxxxxxx
>
>http://www.normans.co.uk
>


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