The synergies between the companies, both with extensive manufacturing facilities in the UK and Asia, will enable the MI and pro audio markets to benefit from a complimentary and comprehensive range of loudspeaker components and casing hardware available globally, says a statement. Both companies have known each other for over 30 years.
Says' Penn's chair Roger Willems, "Integrating Fane with our sales and distribution network fills a gap, and the already excellent existing relationship and levels of mutual respect made it a logical step. We will be able to offer a whole range of premium products from both companies, fantastic value and unparalleled levels of service and technical support."
Fane's chairman Arthur Barnes comments, "It may have taken 30 years, but it's great to be at this point, where we can provide a single source solution built on quality and reputation. Fane and Penn both have an agile, universal business approach and a great heritage. More importantly, we are natural business partners with massive energies and a constantly forward thinking strategy."
(Jim Evans)
