Steinway Statement on Antitrust Investigation in Switzerland
WALTHAM, Mass., Nov. 29, 2012 /PRNewswire/ -- Steinway & Sons, a subsidiary of Steinway Musical Instruments, Inc. (NYSE: LVB), today announced that it has been informed by the Antitrust Commission of the Swiss Confederation (WEKO) that WEKO has initiated an investigation into Swiss dealers of Steinway & Sons and into Steinway & Sons Hamburg due to alleged violations of unfair competitive behavior in the distribution of grand and upright pianos. Steinway & Sons has so far no concrete information which competitive behavior is the subject of the investigation and is not aware of having violated Swiss Antitrust Law. Steinway & Sons will cooperate with the Swiss authorities to help clarify the facts as soon as possible.
About Steinway & Sons
Since 1853 Steinway pianos have set an uncompromising standard for sound, touch, beauty and investment value. Steinway remains the choice of 9 out of 10 concert artists, and is the preferred piano of countless musicians, professional and amateur, throughout the world. For more information, visit www.steinway.com.
About Steinway Musical Instruments
Steinway Musical Instruments, Inc., through its Steinway and Conn-Selmer divisions, is a global leader in the design, manufacture, marketing and distribution of high quality musical instruments. These products include Bach Stradivarius trumpets, Selmer Paris saxophones, C.G. Conn French horns, Leblanc clarinets, King trombones, Ludwig snare drums and Steinway & Sons pianos. Through its online music retailer, ArkivMusic, the Company also produces and distributes classical music recordings. For more information about Steinway Musical Instruments, Inc. please visit www.steinwaymusical.com.
Julie A. Theriault
SOURCE Steinway Musical Instruments, Inc.
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