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TC Group Proposal To TGI Is Accepted

In December 2001, TC Group, the Danish parent company of TC Electronic, TC Works and TC-Helicon, announced a proposal to the shareholders of TGI plc to 2/05/2002 7:00 AM Eastern

In December 2001, TC Group, the Danish parent company of TC Electronic, TC Works and TC-Helicon, announced a proposal to the shareholders of TGI plc to purchase their holdings in the company. The offer has now been accepted by the shareholders and declared wholly unconditional, and a new strong constellation of innovative companies has been founded.

"I am very happy that the offer has been accepted," says Anders Fauerskov, CEO at TC Group. "The timing is perfect for a co-operation in technology like this, as the market of today clearly shows a need for innovative fusions of technologies. Within the new TC Group, we now have the acoustics knowledge, driver technology, digital signal processing know-how, and amplification and power supply skills to make a major impact in the future market for integrated solutions."

TGI plc is a holding company comprising four companies representing individual platforms on the speaker market, including Tannoy, and Martin Audio. Also represented within the TGI plc Group is the Swedish company, Lab Gruppen, producing power supplies and high-end amplifiers, and GLL, producing speakers for the car industry.