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Thread: Shriro Group Acquires Hasselblad

  1. #1
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    Default Shriro Group Acquires Hasselblad

    2003-01-30 Shriro acquires Hasselblad, the Swedish camera manufacturer
    The Shriro Group acquires the majority shareholding in Victor Hasselblad AB.
    The purchase agreement was announced today at a press conference at the
    Hasselblad premises in the centre of Gothenburg.
    - Shriro is well-known to Hasselblad, and has succeeded very well in selling
    our products into the key markets in Asia, says Goran Bernhoff, President
    and CEO of Victor Hasselblad AB. Shriro is our distributor in several key
    Asian markets and has, amongst other things shown its capability together
    with Hasselblad in developing the Japanese and Chinese markets as major
    outlets for Hasselblad.

    Seven years ago Incentive (today Gambro) sold Hasselblad to UBS Capital BV
    in Holland, Cinven in Great Britain and the Hasselblad management. This sale
    was in line with Incentive's wish to concentrate its operations. The aim of
    the purchase was to modernize Hasselblad's operations as well as to renew
    the product portfolio, which has been substantially achieved.

    Michael Binns, CEO of Shriro Group and Goran Bernhoff, CEO of Victor
    Hasselblad AB standing by a poster of the new H1 camera.

    - We buy a company in a very good condition with a new, world-leading
    product on its way to the market, says Michael R Binns, CEO of Shriro. We
    have a long experience in marketing strong brands and we see Hasselblad as a
    great opportunity to expand our operations. This acquisition will mean
    significant synergies between our two companies, in particular in the field
    of distribution.

    Shriro is a 90 year old family business with production and distribution of
    several well-known and worldwide brands. The company has its major operation
    in the Asian Pacific region. The head-office is situated in Hong Kong and
    Shriro employs around 3,800 people in 13 countries and has a turnover of
    more than 2.5 billion Swedish Kronor, equal to 300 million US dollars.

    The Hasselblad family started its company in 1841. Since mid 1870 Hasselblad
    has had its centre of operations in the same building downtown Gothenburg.
    In May this year the company will move to new office and production premises
    in a newly established high-tech industrial and university area, named Norra
    Alvstranden, Gothenburg.

    The company has recently carried through a successful, worldwide launch of a
    new unique camera system, built for traditional film as well as digital
    photography. The H1camera, which took nearly 6 years to develop from "idea"
    to a "finished product", opens up new markets for Hasselblad. Deliveries of
    the new system started in December 2002.

    Hasselblad today has the most wide spread camera system in the world within
    the medium format, the so-called V system. This system originates from 1948
    and will also in the future be an important part of the sales.

    During the latter part of the 90:s Hasselblad has gone through extensive
    structural changes and when the company moves into the new premises the
    efficiency gain will be substantial. This move marks the completion of this
    period of manufacturing and product renewal, and the company is now ready to
    embark into a new era.

    The change of ownership will not mean any major changes of the Hasselblad
    business philosophy. Mr. Goran Bernhoff will remain as President and CEO of
    the company and the new owners also stress the importance of the continuity
    of the management in the years ahead of the company. The management will
    remain as minority shareholders.

    Goran Bernhoff, CEO of Victor Hasselblad AB together with Michael Binns, CEO
    of Shriro Group inspecting a model of the new Hasselblad premises.

    About Victor Hasselblad AB
    For over half a century, Hasselblad cameras have been the preferred tools of
    discerning photographers the world over. Hasselblad cameras were the first
    cameras on the moon and are renowned for their outstanding image quality,
    long-life, and rugged durability.
    Hasselblad produces and markets three distinct camera systems: The legendary
    Hasselblad 6x6 V System, with its classic, compact design and unmatched
    adaptability, still the most comprehensive medium format system in the
    world; the unique dual-format Hasselblad XPan, which takes full, unmasked
    panorama or standard 35 mm shots on the same roll of 35 mm film; and the
    new, auto-focus 645 Hasselblad H System, which seamlessly combines film,
    digital, and slide photography and provides a level of user-friendliness
    previously found only in 35 mm SLR cameras.

    Over 97% of Hasselblad's products are exported for sale in foreign markets
    and the Company has offices, distributors, service outlets, and
    representatives worldwide. Victor Hasselblad AB is a privately owned company
    based in Gothenburg, Sweden.
    David Teo
    View my work and blog at http://www.5stonesphoto.com/blog

  2. #2
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    Default

    Hi



    Michael Binns, CEO of Shriro Group and Göran Bernhoff, CEO of Victor Hasselblad AB standing by a poster of the new H1 camera.

    More over at Hasselblad Website
    David Teo
    View my work and blog at http://www.5stonesphoto.com/blog

  3. #3
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    Default

    What a disaster. Shriro wasn't good at handling Nikon support, and when it became Nikon SG and retained the staff, things didn't really improve. And now they buy Hassy, wonder what the future's gonna be....


    Regards
    CK

  4. #4
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    Default

    Originally posted by ckiang
    What a disaster. Shriro wasn't good at handling Nikon support, and when it became Nikon SG and retained the staff, things didn't really improve. And now they buy Hassy, wonder what the future's gonna be....
    future? wat future?

    we don't need no stinking hassys anymore, wat with the 1Ds outdoing 6 x 7, don't we?

    (for the uninitiated, the above statement is a JOKE)
    David Teo
    View my work and blog at http://www.5stonesphoto.com/blog

  5. #5

    Default Disaster.

    There goes Hasselblad. Down the drain. What a disaster.

  6. #6

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    Cheap consumer cam companies rule the world.

  7. #7
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    Default

    thank god it's not Shinco LOL
    "I'm... dreaming... of a wide... angle~
    Just like the ones I used to know~"

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