Some of the contents of the pages on this site are Copyright © 2016 NJH Music | [Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index] Re: Future of B&H. Is this true?
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 > --
|
[Services] [Contact Us] [Advertise with us] [About] [Tell a friend about us] [Copyright © 2016 NJH Music] |