For Release: September 21st, 2005
Press Contact John Whitacre
Maxxsonics USA Acquires MB Quart GmbH
Lake Zurich IL. - Maxxsonics USA, the parent and manufacturer of Hifonics, Crunch, and Autotek mobile audio sound systems, has acquired the MB Quart brand and its speaker manufacturing facility in Obrigheim, Germany.
The announcement was made today by Alden Stiefel, President and CEO of Maxxsonics USA. "The acquisition of MB Quart is a strategic purchase that enables Maxxsonics to extend its mobile auto-sound offerings to a wider distribution and consumer base, facilitates our distribution and sales plan globally of Maxxsonics product, and provides us a launch pad into the home, multi-media, and personal audio segments of the consumer electronics industry." The acquisition ensures that MB Quart GmbH is now a wholly owned subsidiary of Maxxsonics Europe.
Under a new Maxxsonics Europe, Maxxsonics will work with the MB Quart Germany division and increase its manufacturing prowess, enrich the product development and technology team, and utilize the Obrigheim facility to its greatest potential. "Maxxsonics will capitalize on the MB Quart philosophy and utilize its unique position in the market place. We will maintain MBQ's German manufacturing facility, and cross-pollinate it with other Maxxsonics' speaker product. The world appreciates a truly German design and hand built craftsmanship. Yes, the product costs more, but so does a BMW, MB Quart is a testament to quality and superior sound," said Stiefel.
Maxxsonics will also capitalize on the MB Quart brand name by enhancing an already strong headphone and headset category, rejuvenating the MB Quart home audio segment and entering the competitive multi-media speaker sector. "Our first priority is to stabilize MBQ's mobile audio efforts. MB Quart will recapture its market leading position with the car audio enthusiast through superior product design and excellent service, globally," stated Stiefel.
Alden Stiefel continues. "We attribute Maxxsonics USA's growth and success to team management. MB Quart will be no different. There is no plan to micro manage the Obrigheim facility. Instead, we anticipate a cross flow of information and a global approach that enhances all our brands.
In the U.S.A. Maxxsonics will maintain the MB Quart distribution model. "We will continue to service the mobile audio specialty retailer in the domestic market," stated Stiefel. Maxxsonics will maintain separate sales forces for each brand, separate marketing strategies and distribution schemes, and capitalize on Maxxsonics' operations and customer service infra-structure located in Lake Zurich, Illinois."
Maxxsonics is a leader in mobile audio manufacturing and distribution of Hifonics, Crunch, Autotek, and MB Quart sound component systems. Visit us on the web and see all of our products at www.maxxsonics.com.