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Posted by Hannas Mum on May 20, 2006, 8:37 am
No where in this old statement is there mention of Elna. Also it does
state that Semi Tech was the purchaser of Pfaff, not Singer. AND you
did not go quite far enough. Here is what occurred in 2005/2006
also from the web site:
AFFILIATES OF KOHLBERG & COMPANY, L.L.C. ACQUIRE VSM GROUP
TRANSACTION UNITES SEWING INDUSTRIES LEADING COMPANIES:
SINGER WORLDWIDE AND VSM GROUP
Mt. Kisco, NY, February 13, 2006 – Affiliates of Kohlberg & Company,
LLC (“Kohlberg”), a leading U.S. private equity firm specializing in
middle-market investing, announced today that it has completed the
acquisition of VSM Group Holding AB (“VSM”) for an undisclosed figure.
VSM is a leading supplier of high-end consumer sewing machines and
accessories under the Husqvarna Viking and Pfaff brands. Affiliates of
Kohlberg already control the well-known Singer brand of household
sewing machines. The combined company has taken the name SVP Holdings
reflecting its ownership of the Singer, Viking and Pfaff brands.
Don Fletcher, who joined Singer following Kohlberg’s investment in
September 2004, will become CEO and President of SVP Holdings. The
executive management team of SVP Holdings will include representatives
from both VSM and Singer. Former CEO of VSM, Jorgen Johansson, is now
a senior adviser and member of the Board of Directors of SVP Holdings.
Don Fletcher, commented: “This transaction unites two of the sewing
industry’s leading companies. We have established an outstanding,
integrated management team that includes senior representatives from
both VSM and Singer. Our goal, as a team, will be to provide our
distributors, customers, and consumers with industry leading product,
education, and standards of service. Together, our two businesses will
be better positioned to respond to the needs of consumers worldwide.”
Again these are holdling companines. The new corporation is called
SVP-----Singer Viking Pfaff and yes we do answer directly to Singer
management. Jorgensen of VSM has little or nothing to really do in
this new company. VSM was in terrible financial health prior to the
selling of the entire operation to Singers holding company.
Since one does not work for Pfaff nor are privy to the details of the
>company sale, one relies upon details as related.
>
>The following comes from Pfaff's own website:
>
>"In and outIn 1988 the lawyer, Dr. Schuppli, a member of the PFAFF
>family, acquired 52% of the share capital of the G.M. Pfaff AG, and in
>1993 it was possible to introduce the new conception for a new concern
>structure through the takeover of 72% of the share capital by Semi-Tech
>(Global) Co. Ltd. In 1996 Pfaff reorganised the marketing department
>with an area concept. Since then, following the motto, proximity breeds
>acceptance, regional sales organisations have been supporting the
>structures of the agents, who work independently to a great extent.
>
>In 1997 the SINGER/PFAFF-concern was created through the takeover of
>80.5 % of the shares by the Semitech subsidiary, Singer. A restructuring
>programme was started, which involved the outsourcing of high-wage and
>technically less demanding process sections and products to
>Podolsk/Russia and Zhuhai/China. Highly specialised and high-tech
>industrial sewing machines, as well as essential, particularly
>sophisticated components were still manufactured and assembled with the
>know-how of the staff at the location in Germany. In 1999 the concern
>got into a threatening management situation which led to the separation
>of PFAFF and Singer.
>
>Consequently PFAFF concentrated on its core competence again - the
>production and distribution of industrial sewing and welding machine
>technology. In 1999 the domestic sewing machine division in Karlsruhe
>was sold to the Swedish group, Husqvarna Viking."
>
>Full text here:
>http://64.233.161.104/search?q=cache:Y8LTIw-u2loJ:www.pfaff-industrial.de/pfaff/de/company/history/index_html/switchLanguage%3Fset_language%3Den+Pfaff+Sewing+Sold&hl=en&gl=us&ct=clnk&cd=8
>
>So take great care madam, before eluding to my posts as "garbage".
>
>Candide
>
>
>the one that persists is that
>> Singer OWNED Pfaff in the late 90's. Nothing could be farther from
>> the truth. However, now they ARE managed by Singer guys. Good
>> people too. Very helpful and willing to do some work to get us parts,
>> at least here in Canada they are trying to help.
>>
>> VSM (Viking Sewing Machines) did trash a bunch of parts, machines and
>> things in Toronto and when they closed the plants in German in 2000.
>> But ELNA???????? that's a new one. WE got lots of 'stuff' from
>> dumpster's and nothing went to collectors or dealers. Dealers really
>> suffered during this time. I see lots of the dumpster divers on eBay.
>> Singer seems to be doing a good job now and we have had no
>> interruption in service so far, but the old VSM is a really grumpy
>> bunch now. Singer managers and tech's in a VSM office.....VSM guys
>> don't like it much, but they are old friends of the one remaining
>> Pfaff employee from the old days. .
>>
>> Old Pfaff Pforum is a good place to ask for a manual.
>
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