NEW YORK, May 16 /Xinhua-PRNewswire/ -- Steinway & Sons, renowned for creating the world's finest pianos, and Peter Lyngdorf, Europe's preeminent developer and manufacturer of high performance digital sound systems, have forged a collaboration, under the auspices of Steinway Lyngdorf, and have entered into a multi-year international license agreement to produce the finest, high performance audio visual products and systems for distribution throughout the world. The announcement was made jointly by Bruce Stevens, President and Chief Executive Officer of Steinway & Sons, and Steen Lohse, Chairman of Steinway Lyngdorf. The financial terms and conditions were not disclosed.
"We have sought for some time to expand the Steinway & Sons brand into the high performance digital sound system market," said Steinway & Sons Executive Vice President, Frank Mazurco. "In Peter Lyngdorf, one of the audio industry's most respected innovators and pioneers, we have found a kindred spirit in terms of an uncompromising commitment to excellence, incomparable craftsmanship and quality. Steinway Lyngdorf creates products that are truly worthy of the Steinway name, offering unsurpassed performance, exceptional value and, most importantly, an extraordinary experience for discerning clientele the world over."
"I have been on a quest my entire life to realize the vision of developing innovative systems which set an unequaled standard of excellence for the industry and that have no peer in terms of performance and experience. We intend for Steinway Lyngdorf to create a new paradigm in the audio visual industry, and we believe that The Model-D Music System will indeed set a new precedent," said Mr. Lyngdorf.
"We are proud to have been selected by Steinway & Sons to bring audio visual systems to market which combine unparalleled performance with a fine furniture sensibility, and effortless simplicity in terms of usability. I am confident that the systems developed and manufactured by Steinway Lyngdorf will profoundly revolutionize and transform the audio visual marketplace as we know it today," said Mr. Lohse.
The Steinway & Sons Model-D Music System, the first to be developed and manufactured by Steinway Lyngdorf, is the culmination of painstaking research and development in both electronics and in the acoustic performance of amplifiers and loudspeakers. The Model-D Music System incorporates an advanced version of Mr. Lyngdorf's revolutionary RoomPerfect(TM) technology, which enables the system to be adapted to the acoustic characteristics of any environment in order to ensure unsurpassed audio performance. At the time of installation, a highly trained Steinway Lyngdorf service specialist will utilize RoomPerfect(TM) to "voice" the System to provide optimal audio performance. Steinway Lyngdorf expects to manufacture less than one-hundred of these handcrafted systems in 2007. The Model-D will be available for shipment and installation in early Fall 2007, and will have an MSRP of $150,000.00.
Steinway Lyngdorf is completing development of its sales channels, which will include select Steinway & Sons dealers, custom installers and strategic partners, and is also establishing a comprehensive training and certification program. The Company is also completing development of an internal specialist global network which will be responsible for system installations and after sales service.
About Steinway & Sons:
Since 1853, Steinway pianos have set an uncompromising standard for sound, touch, beauty, and investment value. Handcrafting each Steinway requires up to one full year -- creating an instrument of rare quality and global renown. Not surprisingly, Steinway remains the choice of 9 out of 10 concert artists, and countless pianists, composers, and performers around the world. Headquartered in Astoria, New York, Steinway pianos are sold by nearly 200 authorized dealers worldwide. Steinway & Sons is a subsidiary of Steinway Musical Instruments, Inc. (NYSE: LVB), which also owns Conn-Selmer, the nation's leading manufacturer of orchestra and band instruments. For further information, please visit the Steinway website ( http://www.steinway.com ).
About Steinway Lyngdorf:
Headquartered in Hojbjerg, Denmark, and founded by Peter Lyngdorf in December 2005, Steinway Lyngdorf represents Mr. Lyngdorf's consuming passion to create the finest products in the audio/visual industry, without any compromises and without precedence. The Company designs and manufactures innovative high performance digital audio visual systems, under the Steinway & Sons brand, that embody a unique convergence of art and design, craftsmanship and technology, quality and value which results in the creation of "masterpiece systems" that transform the medium into an experience and the audience into a participant. Steinway Lyngdorf is creating a new paradigm in the audio visual industry, and The Model-D Music System is the standard bearer. For further information, please visit the Steinway Lyngdorf website ( http://www.steinwaylyngdorf.com ).
About Peter Lyngdorf:
Mr. Lyngdorf, an innovative technology visionary and one of Europe's most successful entrepreneurs, has been a leading force in the audio industry for more than thirty years, and was the first to pioneer room-correction technology. His company, Lyngdorf Audio, the technology and market leader in the development and manufacture of high performance digital sound systems, operates the largest and most sophisticated research and development facilities in Europe. Mr. Lyngdorf was also the original financier of Toccata Technology ApS, which is credited with creating the world's first true digital amplifier, the legendary Millennium, in 1998, which technology was subsequently sold to Texas Instruments. Mr. Lyngdorf also founded, and is the majority shareholder of, AudioNord International, Europe's most successful audio specialist group, encompassing Hi-Fi Klubben, Scandinavia's largest HiFi importer and retailer and Dali A/S, a global high performance loudspeaker manufacturer.
