------ =_NextPart_000_01BBC5B1.2C7A0CA0 From: Glenn Grafton[SMTP:gleng@fast.net] Sent: Tuesday, October 29, 1996 1:36 PM To: pianotech@byu.edu Subject: Samick Fiancial News I just heard something about Samick from another supplier--that there = was some very negative financial news reported in the Korean newspapers. I don't want to spread any inaccurate information, but would like to know = if it's accurate. Does anybody know anything more about this? Glenn Grafton List, Yes, there is bad news, although all the details and ramifications are = not clear. Here are the facts that I have heard from multiple sources: - Samick Korea was forced to declare Chapter 11 bankruptcy by the Korean = Government. - The U.S. branch is fine, profitable, and still operating normally. - Samick America said that the factory is still operating normally, = although some others have said they may not be able to manufacture for = a while. - Samick Musical Instruments is a profitable company, but some of its = other holdings in other industries were real money losers. Apparently = these are the companies which caused the cash flow problems and forced = the bankruptcy. It seems most likely that someone will purchase the music divisions and = maintain operations, in spite of some rumors saying that the government = will liquidate the company Don Mannino RPT, Manager Kawai Piano Technical Support, U.S. and Canada ------ =_NextPart_000_01BBC5B1.2C7A0CA0 eJ8+IhYXAQaQCAAEAAAAAAABAAEAAQeQBgAIAAAA5AQAAAAAAADoAAEIgAcAGAAAAElQTS5NaWNy b3NvZnQgTWFpbC5Ob3RlADEIAQ2ABAACAAAAAgACAAEEkAYAEAEAAAEAAAAMAAAAAwAAMAIAAAAL AA8OAAAAAAIB/w8BAAAAQQAAAAAAAACBKx+kvqMQGZ1uAN0BD1QCAAAAAHBpYW5vdGVjaEBieXUu ZWR1AFNNVFAAcGlhbm90ZWNoQGJ5dS5lZHUAAAAAHgACMAEAAAAFAAAAU01UUAAAAAAeAAMwAQAA ABIAAABwaWFub3RlY2hAYnl1LmVkdQAAAAMAFQwBAAAAAwD+DwYAAAAeAAEwAQAAABQAAAAncGlh bm90ZWNoQGJ5dS5lZHUnAAIBCzABAAAAFwAAAFNNVFA6UElBTk9URUNIQEJZVS5FRFUAAAMAADkA AAAACwBAOgEAAAACAfYPAQAAAAQAAAAAAAACiy8BBIABABoAAABSRTogU2FtaWNrIEZpbmFuY2lh bCBOZXdzAKsIAQWAAwAOAAAAzAcKAB0ADwAvADEAAgBrAQEggAMADgAAAMwHCgAdAA8ALwAeAAIA WAEBCYABACEAAAA2Q0VDQzY3N0EzMzFEMDExQkM1NjAwNDAwNTE2MkQ1QgADBwEDkAYAuAYAABQA AAALACMAAAAAAAMAJgAAAAAACwApAAAAAAADAC4AAAAAAAMANgAAAAAAQAA5AGD+eZfzxbsBHgBw AAEAAAAaAAAAUkU6IFNhbWljayBGaW5hbmNpYWwgTmV3cwAAAAIBcQABAAAAFgAAAAG7xfOXcnfG 7G0xoxHQvFYAQAUWLVsAAB4AHgwBAAAAAwAAAEVYAAAeAB8MAQAAAEAAAAAvbz1LYXdhaSBJbnRl cm5hdGlvbmFsLCBJbmMuL291PVdPUktHUk9VUC9jbj1SZWNpcGllbnRzL2NuPWRvbk0AAwAGEAMx UQIDAAcQWwQAAB4ACBABAAAAZQAAAEZST006R0xFTk5HUkFGVE9OU01UUDpHTEVOR0BGQVNUTkVU U0VOVDpUVUVTREFZLE9DVE9CRVIyOSwxOTk2MTozNlBNVE86UElBTk9URUNIQEJZVUVEVVNVQkpF Q1Q6U0FNSUMAAAAAAgEJEAEAAAACBQAA/gQAAKkIAABMWkZ10GI2y/8ACgEPAhUCpAPkBesCgwBQ EwNUAgBjaArAc2V0bjIGAAbDAoMyA8UCAHDccnESIAcTAoMzA8YT6GY0EwwP/2Y1D38QhH0XCoAI zwnZOxofMjU1DwKACoENsQtgbmcxMAYzFIALA2xpMTgwwQLRaS0xNDQN8AzQZx6DC1UVsjE2DCET kG/WdAWQBUBGA2E6CuEfW2MgRgyCIEdsCfADoEcMcmEBgAIgW1NNVAhQOmci8WdAZmHQc3QubhIA XQqHH19fIGQGYAIwIQ8iG1QKUHNAZGF5LCBPIJBvImIEkCAyOSmQMTkkOTYqYDozKqBQTbMlDx/d VG8nTyIbcAcwAm4gYmhAYnl1Lo0JgHUrPyYedWJqIIGHLV8iGwYQbWljayCw7S9BYwcxB7JzCoUK ix3gHyrgHycUggwBIEZJIGoidSSQIGhlCxEgc8sDcBIAaAuAZyABoAhgfybhNKQDUjowL2E5QAXA c0x1cAtQCJEtLTngYeMFQDuSZSB3JIAKhTmipCB2BJB5ICTAZzygfmk+IDsAC4A1JSTANbAgbRog cBnBCYAgC4A8wiC+SwWwOVADoD+iCrBwBJCscy44wAqFZAIgJwVA9z0wAjA8wG85kBOQOVA5gOcA cD5QPxFjYwhwPKA9EHsLgAIQcgDAPrACICmQYrU6cXcIYGw5gB3gaz0QPUNRay9gB+AGkAqFaXTO JwQgRFZCAERvB5FD8f0G4GQ+UEbTQ/E55ARgPQHzOkQ54XM/Ndwi6zXeN4uSYwBAIEwEAHQsNdz+ WQeQKZA81AQARaBDwT+izymQB0A54AhgZ2hRsQMg/0CyDbABkAMQSNI5gCNQNLA9HlBjRUNH4T0B L2EgY/ci8ArAQgBIPPJUckCyJHD/IJAEIDyDONARwD7ROUQ7E35tRhA+sAtQPRA5kQhwY/UHkDoK hS00hkDzPSI7AH8FsFjgOYBDUQWBC2A9AUM3EcAFMCoBMU7wUSBua3JyO/B0Yz5QL9BAqkdabz4h bgeAAjAuWSdU0UDBVS5TQgBiI1A1MPdSMFDxPwFlKZAgQR5QAZG/IvBRoVNhJJADEAMgb0HB3z6h OhEvYEUhUmB5Xsg0lf5BB4AFEFPwOZALcFsRPJX/ViMFsEQRBCBh/2MFUak90+87gwQgVwNlBWU+ UADAPlE/VMEp8DoxWGFDUWphbnX/VjIIcD7hBbFaYTnwIvBjf65NOQBT4QMgSQCAdFzQ/16CBCBQ 8VpgYPhU4ANwCrD3RABFlGjEZkehBCA7hFHw/0YgOgFvUQOgO4QLgDAgbtH7CJAEIHc88kERAyAE YCTA7z5QGbAR8EHiQTwAVHECMP9jUDzCEfBVp3B0c/M58GAx/1PwOQBbAncSJIBSMBzwRvH7IEFh YW1TNFrGQMFcmF7G/QqFSXEhCeB58QRgORFGUr92MzyhOaJ04T0gZrJwWMH/EcB2kUCyWABuUUKQ PsAEAP9UJFNhAMALgFLxcwFnBFQx/ymQQIFBkEewcXM9027xBbDvZnEpcDoCZVdnXjd+tB3g3HF1 ZSBEoncIeTXcCo+/C5EXwk6kIDdIoAOgTQBwZwMAL2AH8FBUKZCK0WGmZwSQiCVLYT0waSsA/y9C KRAvkQMAbnIyQDwAGcH3KZBfo1NSQ4uxKWCI6iHpfzZPN1+QbIe/kX4S8pK/IAUZQQCXgAAAAwAQ EAAAAAADABEQAAAAAEAABzDgPD+M88W7AUAACDDgPD+M88W7AR4APQABAAAABQAAAFJFOiAAAAAA AwANNP03AAAsGA== ------ =_NextPart_000_01BBC5B1.2C7A0CA0--
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