Film-Tech Forum ARCHIVE: Panastereo Now 100% Owned By Smart

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Posted by Stephen Jones (Member # 16) on 08-03-2005, 03:52 AM:

G'day All,
I have heard a rumour that Smart now have 100% control of Panastereo and that the Austrlian part of the operation is closing and moving everything to the U.S.Have any of you guys heard anything about this in the U.S and that Ray Derrick is moving to the U.S?
I did know that Smart had a Stake in Panastereo.

Cheers [beer]

Steve

Posted by Phillip Grace (Member # 2262) on 08-03-2005, 04:48 AM:

I saw an advertisiment regarding the liqidation of Panalogic, with a photo of the Sydney premises. I dont have any other information, but I would be a bit concerned if we lose this company, with its excellent equipment and after-sales service. Perhaps if Ray Derrick is reading he might like to let us know what's happening.

Posted by Paul Trimboli (Member # 1509) on 08-03-2005, 06:00 AM:

I hope we are not loosing this great company! [Frown]

Who will distribute Film-Gaurd in Australia if they do?!

Posted by Steve Guttag (Member # 268) on 08-03-2005, 06:36 AM:

I think this one is pretty well confirmed. If you go to the Panastereo site in the US (Smart Devices), it actually has a posting that confirms the sale of the company and it announces that Ray Derrick is going to be designing products for both SMART and Panastereo.

It does not say Ray is moving to the USA. He can certainly design products away from where they are being made. I could see him either moving or traveling to the USA periodically.

Posted by Richard Fowler (Member # 893) on 08-03-2005, 08:38 AM:

Panastereo will retain a repair and stock center in Sydney. Smart has owned 43% of the company for the past eight years and in June purchased the remainder. I mentioned this a few days ago on "Film Yak" posting regarding Oscar at Smart. Ray will relocate later in the year to the USA, not sure if permanent or on a shuttle type of arrangement. His daughter is getting married so that is what is occupying his mind at the moment [Wink]

Norm Schneider and Ray Derrick will make a strong team in developing future products. You can see details at www.smartdev.com

Posted by Adam Martin (Member # 641) on 08-03-2005, 11:06 AM:

See this thread.