Fender Musical Instruments Corporation (FMIC) is proud to announce that it has signed a deal to purchase specific assets of SWR Sound Corporation. The acquisition, effective as of June 2, 2003, includes all existing inventory of products , as well as all accounts receivable, intellectual properties and trademarks relating to SWR products.
Says Bill Schultz, Chairman and CEO of FMIC, "We have always sought to offer a wide variety of quality products to meet the needs of all musicians, and the SWR brand name will help us do just that. The SWR bass amplification products and the artists who use them are known and respected throughout the world, and they will add diversity to what we are able to offer."
"Many innovative product features and cutting edge artists are associated with these amplifiers," adds Bill Mendello, President of FMIC, "and we are committed to the growth of the brand name, and to exceeding the expectations of the devoted musicians who play SWR amplifiers in the areas of quality, service and market support."
FMIC will immediately begin to produce SWR bass amplification products at both of the company's state-of-the-art manufacturing facilities in Corona, California, and Ensenada, Mexico. The SWR brand name will then be sold and distributed through the recently created Fender Specialty Sales department, under the direction of Jeff Cary, Vice President of Specialty Sales.
SWR's existing retailers will still be able to carry the products and will be contacted directly by FMIC to ensure a trouble-free change over.
The new Fender Bass Amplification Division, which includes a team dedicated solely to the development of new bass amp technology and marketing, marked FMIC's most progressive move to date and reinforces the company's dedication to creating a full line of innovative bass products under the Fender brand name. Now, with the addition of SWR, FMIC is poised to develop, produce and market products under two distinct brand names that will more than meet the needs of all styles of bass players throughout the world.
"We have worked very hard over the past seventeen years to build a worldwide distribution network that offers quality instruments and excellent service to retailers and consumers," says Schultz. "We are all very excited to have SWR within our family, and we look forward to working with the retailers that have supported these fine amplifiers, as well as the consumers who have helped the brand name grow to what it is today."