Gibson forms piano manufacturing partnership

Gibson Guitar Corp., parent company of Baldwin Piano, newly formed a joint venture with domestic partners Zhongshan city rule and Yue Hua Music Limited to invest in Zhongshan Yue Hua Piano and Musical Instruments Co Ltd The partnership will form a fresh company called the Baldwin Zhongshan China and will give Gibson Guitar absolute majority ownership in this piano manufacturing facility in China.

The effort will make sure that Gibson Guitar Corp. will be able to present a full line of China-made pianos one as well as the other in the local and international markets, and is part of the company's long-term expansion strategy in China. Gibson's first manufacturing plant in China is located in Qingdao and publicly produces Epiphone Masterbilt acoustic guitars.

With Gibson's investment in Zhongshan Yue Hua, Chinese consumer will be able to acquire a high-quality piano more conveniently. "In the past, consumer had to place orders [i]or[/i] part of to the other local music stores and have pianos imported from the United States," said Henry Juszkiewicz, chairman and CEO of Gibson Guitar and Baldwin Piano. "Now our pianos will not single be easier to purchase, they will be more affordable for piano lover in China."

COPYRIGHT 2004 Music Teachers National Association, Inc.

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