The Victor Co. of Japan, parent company of JVC of America, is on the auction block. Estimates are that the 52 percent controlling interest in the company will fetch nearly $700 million for current owner Matsushita Industrial Electric, parent of Panasonic. Three private equity firms -- one based in the U.S. -- are bidding in the auction, which may conclude its second round by tomorrow.
JVC is one of those old consumer electronics companies that kind of flies under the radar. It makes good products, particularly of the LCD and LCoS flavor, but it definitely doesn't have the brand recognition of longtime Japanese rivals like Sony and Panasonic or even upstart Korean competitors like Samsung and LG. It will be interesting to watch whether the private equity firm that wins this auction can reinvigorate the brand for the long-term or if the plan is to fix it up quickly and sell it off again.
Subscribe to:
Post Comments (Atom)
Posts
5 comments:
I think It's a great idea for JVC to be up for sale.Hopefully with this change,things might go alot smoother as for as their way of running a company.Not the whole company in general,just the one branch of JVC Disc America in Kennesaw,Georgia. They really need to clean house down their if you know what I mean.
What about the Tuscaloosa plant in Alabama? Should we fear for our jobs?
If I were Texas Pacific I would conduct a thorough audit of the Tuscaloosa and Kennesaw facilities.
I being an employee of Jvc in tuscaloosa, AL really hope the sale of the company will beneficary to us. The japanese are great to work for and take care of their employees and families a lot better than most american owned company's(ex.Walmart). I hope to be able to continue my career at jvc. I fear for my job,having small childern and jobs are hard to come by anymore. I think they need a good clean up though. for all my fellow workers "keep Positive." it might be for the best
I've heard good things about their service and disc quality. So what house cleaning are you talking about?
Post a Comment