Gibson Guitar Corp., announced that it has formed a joint venture with domestic partners Zhongshan city government and Yue Hua Music Limited to invest in Zhongshan Yue Hua Piano and Musical Instruments Co. Ltd. The partnership will form a new company, Baldwin Zhongshan China, and will give Gibson Guitar absolute majority ownership of the manufacturing facility in China.
Gibson Guitar Corp. will therefore offer a full line of China-made pianos both for local and international markets. Gibson’s first manufacturing plant in China, located in Qingdao, currently produces the Epiphone Masterbilt acoustic guitars.
“In the past, consumers had to place orders through local music stores and have pianos imported from the United States,” said Henry Juszkiewicz, chairman and CEO of Gibson Guitar and Baldwin Piano. “Now our pianos will not only be easier to purchase, they will be more affordable for piano lovers in China.
“China is an important market for Gibson, and Zhongshan Yue Hua is a very valuable investment in helping us further build our business in an accelerating Chinese music market,” continued Juszkiewicz. “We want to reinforce our position as a localized partner, working closely with Chinese companies in the musical instrument industry.”
“Cooperation with a music instrument giant like Gibson Guitar gives us the confidence that we will have the right resources and right business strategies to grow the domestic music industry together. We look forward to a long and fruitful relationship with the company,” mentioned Gao Yonghu, general manager of Zhongshan Yue Hua Piano and Musical Instruments.
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