Burnley, Lancashire, U.K. (December 21, 2006)–As part of a comprehensive business plan addressing international brand expansion and positioning, Oribi Investments Ltd. has secured major interest in AMS Neve Ltd. The investment in AMS Neve by Oribi Investments Ltd. is part of Oribi’s ongoing plans to develop an investment portfolio in the film, broadcast and audio technology manufacturing sectors.
The announcement comes on the heels of AMS Neve celebrating its 45th anniversary, and the acquisition is the culmination of a series of negotiations between Oribi Investments Ltd and the company’s original shareholders SAE Educational Trust Ltd. and AMS Neve director Mark Crabtree.
In the new structure, SAE will remove itself from the day-to-day operations of AMS Neve Ltd., however will continue to supply valuable industry information to support the company’s development of market driven products. Crabtree will continue to lead the Company.
Oribi director Manoj Purayil said, “We have been very interested in investing in high end European electronics development and manufacturing for some time and recognize the quality, appeal and potential of the AMS Neve range in its respective markets.”
“SAE have provided AMS Neve Ltd. substantial financial and other support over the past 18 months but recognize that with the continuing need for large investment in R&D and the projected release of new products, the time had come to attract a third shareholder which would bring with them a series of additional funding and other benefits,” said Dr. Tom Misner, the SAE Group founder and president.
Crabtree added, “Our markets are always hungry to embrace advances in the art and science of professional audio technology, and AMS Neve is widely recognized for leading the way in these exciting areas. We continually strive to provide our customers with the all-important competitive ‘edge’ that our advanced and innovative products can bring to their operations. The recent restructure will pave the way to take the business to the next level.”
The AMS and Neve brands are synonymous with the world’s best audio, film and broadcast products and equipment. AMS Neve Ltd. will continue to lead the way with the proposed announcement for the release of a number of new products for 2007.
Check out www.ams-neve.com for full details.