US Guitar Maker Offers to Buy Myaxe Guitars

A US-based company has started talks to buy out Asian guitar-maker Myaxe
By: Allan Nawal
 
April 19, 2012 - PRLog -- BEIJING, China - A major US guitar manufacturing company has signified its intention to buy Myaxe Guitars, the Asian-based handcrafted guitar maker.
Hao Xiao Li, Myaxe president, yesterday told reporters here the initial meeting between Myaxe executives and that of the unnamed US guitar company took place late last week here.
"We were surprised to receive a communication from them in January, asking us for availability for an initial talk about their buy out plan," Hao said.
Hao described the outcome of the meeting as "nothing definite yet."
"We will be conducting further meetings. The initial meeting was centered on the offer for acquisition but the amount has not been disclosed yet," she said.
Asked if Myaxe has plans of selling out to another company, Hao said "everything is being considered, including that possibility."
Myaxe started building handmade guitars from a small factory outside Beijing in 2008. It has since moved its custom guitar shop to a small OEM factory in Japan.
The two shop's combined monthly output remains at 30 guitars and some of its products are being sold at its online store, www.myaxeonline.com.
"We can always make 100 guitars in a day if we wanted to but that would defeat our assurance of quality," Hao said.

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What is my Myaxe?
Myaxe are solid-body guitars made entirely of mahogany wood, the wood commonly used by big names in the guitar manufacturing industry.
We are a team of musicians, who like every one else started with a dream of owning their axe.
End
Source:Allan Nawal
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Zip:8021
Tags:Electric Guitars, Guitar Company, Gibson, Fender, Ibanez, Prs
Industry:Guitar Manufacturing
Location:Davao del Sur - Philippines
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