How did I miss this??

Discussion in 'Archived Threads 2001-2004' started by Steve WC, Sep 29, 2002.

  1. Steve WC

    Steve WC Stunt Coordinator

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    Marantz and DENON Complete Merger, Become Part of Newly Formed Holding Company Called D&M Holdings
    Combination of Two Industry Leaders Will Make Both Brands Stronger, Creating A Powerful, Global Company in the Premium Home Theater, Audio-Video Consumer Electronics and Professional Audio Industries
    TOKYO - (PRNewswire) - May 14, 2002 - D&M Holdings Inc. (TSE II: 6735) a joint holding company formed to merge the operations of Marantz Japan Inc. ("Marantz") and DENON, Ltd. ("DENON"), today announced the completion of the merger. The combination of two industry leaders creates a global leader in the premium home theater, audio-video consumer electronics and professional audio markets, while maintaining the established Marantz and DENON brands. DENON and Marantz combined experience in these market segments exceeds 130 years.
    D&M Holdings, which is headquartered in Sagamihara City, Japan, has succeeded Marantz as a publicly traded concern on the Second Section of the Tokyo Stock Exchange (TSE II: 6735). Ripplewood Holdings LLC, DENON'S largest shareholder, will become the majority shareholder in D&M Holdings, which has 1,650 employees around the world. Royal Phillips Electronics (AEX[​IMG]HI; NYSE: PHG), which owned 49% of Marantz Japan now owns 14.7% in D&M Holdings.
    Tatsuo Kabumoto, former chairman and CEO of Marantz who is now president and CEO of D&M Holdings, said D&M Holdings will capitalize on the clear strategic benefits from combining the two companies. "The merged company formed today will create a powerful force in the premium home theatre and audio-video (AV) market. By combining these two companies, D&M will be able to obtain significant improvements in margins and cash flow. Moreover, D&M will be well positioned to take advantage of the growth in this market segment given the high demand of home theatre products and the digitalization of this market segment," Mr. Kabumoto said.
    All shares of both Marantz and DENON were transferred to D&M Holdings, making both entities wholly owned subsidiaries. Former Marantz shareholders received one share of D&M Holdings for each Marantz share, and former DENON shareholders received 0.4416 shares of D&M Holdings for each DENON share. Former Marantz shareholders will hold approximately 30% of the new company and former DENON shareholders will own approximately 70% of the new company. The DENON and Marantz brand names will be maintained, as well as their sales and marketing and brand specific product and distribution channels.
    About Marantz Japan, Inc.
    Marantz Japan, Inc. commenced operations in January 1953. Its share capital is 1,135 million yen and its consolidated group companies have 628 employees (as of December 2001). For approximately half a century, Marantz has continued to hold unique technologies and to develop advanced technologies. Marantz' products hold a strong market position, exemplified by its premium audio equipment designed for sophisticated audiophiles and by its high-end business-use equipment. In the area of R&D, new products are being developed through the fusion of audio, video and wireless technologies, reflecting adaptation to the digital age.
    About DENON, Ltd.
    DENON, Ltd., is a manufacturer of premium home theatre and AV equipment. The DENON brand is recognized globally for its unique and high quality sound technology. DENON has created a sophisticated, vertically integrated product offering including amplifiers, speakers and sound control and has established a remarkable reputation through it achievements in each of these areas. Its share capital is 550 million yen and on a consolidated basis, the company employs 1,019 individuals (as of December 2001).
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  2. Tony Genovese

    Tony Genovese Supporting Actor

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    Don't think it was on the front page of your local paper.[​IMG]
     
  3. Larry B

    Larry B Screenwriter

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    Too busy watching the Pod race?
     
  4. DanaA

    DanaA Screenwriter

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    Thinking about it, I think this merger will prove symbiotic. Certainly, the combined engineering prowess of both companies can only serve to make each product better. My only hope is that each product retains its unique characteristics.
     

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