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Author Topic: Panastereo Now 100% Owned By Smart Stephen Jones Master Film Handler Posts: 314 From: Geelong Victoria Australia Registered: Jun 99 posted 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 Steve  |  IP: Logged Phillip Grace Expert Film Handler Posts: 164 From: ACMI. Melbourne. Australia. Registered: Mar 2004 posted 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.  |  IP: Logged Paul Trimboli Master Film Handler Posts: 274 From: Perth Western Australia Registered: Dec 2002 posted 08-03-2005 06:00 AM                     I hope we are not loosing this great company! Who will distribute Film-Gaurd in Australia if they do?!  |  IP: Logged Steve Guttag We forgot the crackers Gromit!!! Posts: 12814 From: Annapolis, MD Registered: Dec 1999 posted 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.  |  IP: Logged Richard Fowler Film God Posts: 2392 From: Ft. Lauderdale, FL, USA Registered: Jun 2001 posted 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 Norm Schneider and Ray Derrick will make a strong team in developing future products. You can see details at www.smartdev.com  |  IP: Logged Adam Martin I'm not even gonna point out the irony. Posts: 3686 From: Dallas, TX Registered: Nov 2000 posted 08-03-2005 11:06 AM                     See this thread.  |  IP: Logged

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