[A440]

Yamaha has reached an agreement with the Austrian bank, BAWAG, to purchase Bösendorfer Klavierfabrik, widely considered one of the top three piano manufacturers along with Steinway and Bechstein. The sum of the purchase is expected to be in the region of £11 million.

BAWAG had been struggling through the third quarter of 2007 and offered up its wholly owned company for bids. Those bidding included Gibson, Yamaha and another Austrian piano manufacturer, Brodmann – the latter seen as the favourite to buy its compatriot during the early stages of negotiations.

The end of November saw Yamaha, however, being appointed as the sole acquirer, with an agreement to sale confirmed on December 20th and a signing of the deal expected during January – most likely at the NAMM show in Anaheim.

Bösendorfer is now entering its 180th year as a manufacturer of the distinctive ‘Viennese’ sounding grand piano, having started in 1828, and Yamaha is insisting that nothing will change in terms of production and company headquarters. What will need to change, however, is the sales figures, with the Austrian company reporting losses of well over £1 million in 2006 and unit sales falling to under 300.

[Barrie Heaton]

[PianoGuy]

Thank goodness it was Yamaha rather than Gibson.

Have you seen the crap they put out in the name of Baldwin? They appear to get a cheap piano made in the usual half-hearted American tradition then spray a can of matt black paint over the action.

Shame Brodmann didn't get it IMO, but they'd have had a very tough time turning the sales of that company around.

[Openwood]

I need to get my glasses checked - completely mis-read the title of the thread.

[A440]

I bet you thought it needed zapping. just keeping you on your toes!