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#1285313 - 10/12/09 07:08 AM Re: Schimmel Bankrupt? [Re: Strings & Wood]
Gregor Offline
Full Member

Registered: 10/31/08
Posts: 436
Loc: Münster, Germany
sounds like a (bad) joke.

Gregor
_________________________
piano tech - tuner - dealer
Münster, Germany
www.weldert.de

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#1285451 - 10/12/09 12:51 PM Re: Schimmel Bankrupt? [Re: Strings & Wood]
twfay Offline
Junior Member

Registered: 08/03/09
Posts: 6
Loc: singapore
Originally Posted By: Carl Mc
Originally Posted By: twfay
If not wrong ,Pearl River will take over Schimmel by end of the year.


twfay,
Is this a guess, wishful thinking, or do you have a source for this statement? And, if so can we expect additional information in the near future?


Carl mc,
Due to a good relationship with Pearl River, i get this imformation. Not guess or wishful think. I have no evidence (if have i think i can earn a lot money juz to predict which company will bankrupt) If i have additional information, i will post here again smile Currently if u know read chinese, i can give u few link for ref, a web from China Guangzhou Nanfang online news.

http://www.gzonline.gov.cn/portal/site/s...de=001014005005
http://www.ca001.com/ca001/html/35/n-420035.html


Edited by twfay (10/12/09 01:47 PM)

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#1285505 - 10/12/09 02:18 PM Re: Schimmel Bankrupt? [Re: twfay]
Fun Offline
Full Member

Registered: 08/21/09
Posts: 152
Loc: Phoenix, Arizona
Interesting. I read the news you posted. For those who can't read, I'll just do a short summary:
"Pearl River Piano company is the process of purchasing a German piano company, which is considered one of the top 5 piano makers in the world. At this point, we will not disclose the name of the company because we do not want to affect the negotiation process. Acquiring a world-class piano maker will be a great strategic move for the Pearl River Piano company."

Schimmel was one of my top choice in my recent piano shopping, and I'm glad I didn't buy a Chinese piano (just kidding!).
_________________________
Estonia L190 in Pyramid Mahogany, Petrof 125F in Ebony Polished
Dark Love

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#1285607 - 10/12/09 05:00 PM Re: Schimmel Bankrupt? [Re: twfay]
Strings & Wood Offline


Gold member until Dec. 2012


Registered: 05/22/08
Posts: 1840
Loc: USA
Interesting... could be a win - win situation, or not.
Regardless, mine is already in the house. smile
_________________________







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#1285628 - 10/12/09 05:35 PM Re: Schimmel Bankrupt? [Re: Strings & Wood]
AJB Offline
3000 Post Club Member

Registered: 10/01/05
Posts: 3655
Loc: Surrey, England
So, who is it unlikely to be?

Steingraeber. No. Independent and seems solid.
Hamburg Steinway. No chance.
Bluthner? Maybe. But are they even close to top 5 these days?
Bechstein. Has had years of financial instability, so maybe.
Boesendorfer. Austrian and now owned by Yamaha. Who may want to offload it. Dubious.
Schimmel. Well, as it is in administration they will be desperate and cheap.

Story sounds credible to me.
_________________________
S&S Hamburg D, Yamaha CLP 280


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#1285640 - 10/12/09 05:51 PM Re: Schimmel Bankrupt? [Re: AJB]
turandot Offline
7000 Post Club Member

Registered: 01/27/07
Posts: 7351
Loc: torrance, CA
Adrian,

I had no idea that you were interested in idle speculation. grin

Forget the hunted. Focus on the hunter. It's inevitable that at some point some piano-related business entity in China will become a groom to a reluctant European bride. Even if Yamaha and SMC find the idea of a European trophy in their display cases appealing, they won't shop indiscriminately. A Euro could always buy another Euro if the synergies were there (hate that word) grin. I guess Hyundai-backed Young Chang could be a player too if Hyundai wanted to be (should anyone really want to be?).

The significant thing about Pearl River, whatever it is hunting, is that while it hasn't aced the test in terms of marketing to the West, it is a state-supported company with pockets that can run as deep as the state sees fit.
_________________________
Will Johnny Come Marching Home?
The fate of the modern wartime soldier

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#1285661 - 10/12/09 06:35 PM Re: Schimmel Bankrupt? [Re: AJB]
Fun Offline
Full Member

Registered: 08/21/09
Posts: 152
Loc: Phoenix, Arizona
AJB, Bluthner is one of the six piano brands that are rated as Tier 1 by Larry Fine, so I'd say it's in the top 5. As far as the "prey" in this case, strictly speaking, Schimmel is not in the top 5, because it's tier 2. However, given it's current financial situation, it's likely to be the "prey" referred in the articles. Bechstein is another likely candidate, as it's a tier 1 brand.


Edited by Fun (10/12/09 06:37 PM)
_________________________
Estonia L190 in Pyramid Mahogany, Petrof 125F in Ebony Polished
Dark Love

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#1285671 - 10/12/09 07:04 PM Re: Schimmel Bankrupt? [Re: Fun]
DanLaura Larson Offline
500 Post Club Member

Registered: 09/01/08
Posts: 695
Loc: Pocatello, Idaho
Fun when they say one of the top five piano makers are they referring to prestige or production numbers?

Dan
_________________________
Dan and Laura Larson
Fazioli and Ibach grands
Larson Piano Studio
http://www.stoneformsart.com/

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#1285676 - 10/12/09 07:12 PM Re: Schimmel Bankrupt? [Re: Fun]
turandot Offline
7000 Post Club Member

Registered: 01/27/07
Posts: 7351
Loc: torrance, CA
I doubt if Chinese business entrepeneurs (state or private) rely all that heavily on Larry Fine's ratings.

twfay or Fun,

According to the second link,

Pearl River is reporting export growth of 22% and profit growth of + 30% for the first two quarters of this year, and year-over-year export growth of 45%

Annual production is claimed to be 90,000 units accounting for 30% of domestic piano production and 12% of the world market.

If you are reading the original Chinese characters and my interpretation is wrong, please clean up behind me.

Thanks

Profit growth from making pianos?????

Who knew? grin


_________________________
Will Johnny Come Marching Home?
The fate of the modern wartime soldier

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#1285677 - 10/12/09 07:14 PM Re: Schimmel Bankrupt? [Re: DanLaura Larson]
Fun Offline
Full Member

Registered: 08/21/09
Posts: 152
Loc: Phoenix, Arizona
Dan, they're referring to prestige (or quality), not production numbers (or quantity).
_________________________
Estonia L190 in Pyramid Mahogany, Petrof 125F in Ebony Polished
Dark Love

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#1285689 - 10/12/09 07:34 PM Re: Schimmel Bankrupt? [Re: turandot]
Fun Offline
Full Member

Registered: 08/21/09
Posts: 152
Loc: Phoenix, Arizona
Turandot, agree with you regarding the relevance of Larry Fine's rating in this case.

Your interpretation is correct regarding the profit. I'm actually not surprised with it. First of all, we're all aware of the rise of wealth in China. In fact, most of them save too much smile Secondly, there are not many Chinese family I know who does not send their kids to learn piano or violin, if they can afford it. These two factors would easily explain the rise of piano sales and/or profit for piano companies that have a strong foothold in China, including Pearl River.

If Pearl River indeed acquires Schimmel (or whoever else), it should help the company gain their market share in China, which IMHO would help tremendously for their survival in times to come. I think it's also wise for Yamaha to acquire Bosie, as Bosie has very high prestige in China (in line with Steinway). You probably know that Estonia is trying to get into China, due to the economic situation in the US.

It's an interesting times for everything, including the piano industry smile


Edited by Fun (10/12/09 07:37 PM)
_________________________
Estonia L190 in Pyramid Mahogany, Petrof 125F in Ebony Polished
Dark Love

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#1297238 - 10/31/09 01:33 PM Re: Schimmel Bankrupt? [Re: Strings & Wood]
BPlayer Offline
Junior Member

Registered: 10/31/09
Posts: 5

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#1297247 - 10/31/09 01:50 PM Re: Schimmel Bankrupt? [Re: BPlayer]
Norbert Offline
Yikes! 10000 Post Club Member

Registered: 07/03/01
Posts: 14428
Loc: Surrey, B.C.
Quote:
You probably know that Estonia is trying to get into China, due to the economic situation in the US.


I'm afraid to say this is incorrect.

Estonia was invited to last week's piano fair in Shanghei, world's most important these days - but declined.

Current dealers for the piano still have to wait for stock, even at this time and there isn't enough pianos to go around.

You may believe this or not, but these are the facts.

Norbert
_________________________
www.heritagepianos.com
Greater Vancouver B.C. piano dealers for : Estonia, Brodmann, Ritmuller
604-951-8642

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#1297261 - 10/31/09 02:11 PM Re: Schimmel Bankrupt? [Re: Norbert]
Fun Offline
Full Member

Registered: 08/21/09
Posts: 152
Loc: Phoenix, Arizona
Originally Posted By: Norbert
I'm afraid to say this is incorrect.

Estonia was invited to last week's piano fair in Shanghei, world's most important these days - but declined.

Current dealers for the piano still have to wait for stock, even at this time and there isn't enough pianos to go around.

You may believe this or not, but these are the facts.

Norbert

Norbert, I got that impression from the attached article.

Quote: "While the piano maker has not escaped the negative effects of global economic crisis, Laul has used it as an opportunity to expand his market beyond the United States. We have made a deal selling pianos to Japan, will close talks soon in China and have been negotiating with the dealers to bring Estonia pianos also to the Arab piano market," Laul said explaining his anti-recession strategy."

Estonian pianos hit the right note

I do want to say that I got the last one from my local Estonian dealer in September, and he hasn't received any new one when I chatted with him a week ago.


Edited by Fun (10/31/09 02:16 PM)
_________________________
Estonia L190 in Pyramid Mahogany, Petrof 125F in Ebony Polished
Dark Love

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#1297544 - 11/01/09 02:06 AM Re: Schimmel Bankrupt? [Re: Fun]
schwammerl Offline
2000 Post Club Member

Registered: 04/16/06
Posts: 2012
Loc: Belgium
There are apparently indeed multiple candidates for the take over of the Schimmel company.

However the solution might come from a rather unexpected corner and not form a piano company like Pearl River, namely the Swiss capital investor Xarpo Capital Partners.

Please read following recent link:

Xarpo Capital Partners

schwammerl.

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