June 6, 2005 (Meridian, MS)–Peavey Electronics Corporation has consolidated the Crest Audio manufacturing and business office in Fair Lawn, NJ, moving operations to its international headquarters in Meridian, Mississippi.
Peavey founder/CEO Hartley Peavey cited market demand for products, especially in export markets, as the major reason for the move. The Crest Audio and Crest Performance product lines have experienced significant sales increases during 2004 and early 2005.
“In many cases, we had duplicate systems and overlapping operations in Mississippi and New Jersey that were unnecessary and costly to maintain,” commented Peavey. “We are now incorporating the best methods from both operations to give us faster time-to-market and reduced costs, which will benefit both the company as well as Peavey and Crest Audio consumers.”
With the recent addition of Meridian-based sales and marketing personnel for Crest Audio and the addition of more than 150 people to the Meridian manufacturing workforce, this move will enhance the Crest Audio operation significantly. Many of the subassemblies for Crest Audio’s world-class mixing consoles and power amps products are already in production at Peavey’s Decatur, Miss., facility.
Although Peavey and Crest Audio now share manufacturing and distribution resources, the companies will remain largely autonomous, with separate sales, design, engineering and management staffs. Crest Audio will continue to operate as a division of Peavey Electronics Corporation alongside the Architectural Acoustics, MediaMatrix and PVDJ brands. Peavey acquired Crest Audio in 1998.