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Yamaha-Managers Hiroo Okabe and Hitoshi Fukutome for Signing in Vienna

After the agreement between BAWAG PSK and Yamaha on the sale of Bösendorfer, Yamaha managers Hiroo Okabe (Member of Board of Directors and Managing Executive Officer Musical Instruments Business Group) and Hitoshi Fukutome (General Manager Piano Division) traveled to Vienna for the signing on 20th of December.

On the next day, YAMAHA and BAWAG PSK hold their common press conference in Bösendorfersaal. At this occasion the guarantee to maintain an Austrian headquarter and production site for Bösendorfer manufactory was stressed again.

“The piano manufacturer Bösendorfer is a special company. Therefore I am very pleased that with Yamaha, a strategic owner could be found which is able to support the financial development of Bösendorfer and will continue the cultural heritage. The guarantee issued by Yamaha to maintain the headquarters and production in Austria clearly indicates that we did also consider the interests of the staff in the sale and that overall, a very good solution could be achieved,” explained BAWAG CEO Dr. Ewald Nowotny.

From left to right: Dr. Ewald Nowotny, Hiroo Okabe, Dr. Alfred Zellinger, Hitoshi Fukutome

From left to right: Dr. Ewald Nowotny, Hiroo Okabe, Dr. Alfred Zellinger, Hitoshi Fukutome

The 180 employees of the Viennese traditional company will be further employed and the number of staff is even intended to be increased in the medium-term. Bösendorfer will especially profit from the strengthening of the distribution.

Managing director of Bösendorfer Dr. Alfred Zellinger: “We are glad that we succeeded to find such an excellent investor for Bösendorfer which has already proven respect towards our house as well as positive expectations of the future in the negotiations. Yamaha constitutes a competent and strong strategic investor for the traditional company Bösendorfer that will undertake every effort to support the Bösendorfer regarding distribution, optimization of the production and development of product innovations. Therefore, Yamaha will secure the future chances of this top brand.”