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MB Quart To Re-enter U.S. Under New Brand

1/11/2005 10:33:00 PM Eastern

Obrigheim, Germany — Refusing to simply fade away, MB Quart GmbH, currently in receivership, said it plans to launch a new brand in the United States and worldwide, called Third Acoustics, with a target date of June.

According to Tobias Wahl, the insolvency administrator for MB Quart, the company has continued to operate since it filed for insolvency in September 2004. Although it is currently in a dispute over the rights to the MB Quart name in North America, the company plans in the meantime to offer the same products as it did under the MB Quart brand. It said it will produce the products in the same manner, and with the same model number designations under the Third Acoustics brand (except for amplifiers which will no longer be offered).

Rockford Corp., which purchased MB Quart in 2001, said it had no comment at this time.

Third Acoustics was at International CES this month to sign up a core network of U.S. manufacturer’s representatives, it said.

MB Quart GmbH said it will decide by February if it will operate its own Third Acoustics subsidiary in the United States, or if it will go through a distributor. MB Quart GmbH’s turnaround consultant, Thomas Sauer, said the company is leaning towards establishing a Third Acoustics subsidiary.

Wahl said that “we will stay with the product that is engineered and produced in Germany. We are currently in the process of reworking all the products to create a significant increase in price performance ratio. We are looking forward to reviews in magazines comparing Third Acoustics to the old MB Quart product.”

He added, "And since we have ... a wonderful name and a highly motivated staff, we think we have a profitable company and we don’t think we’ll have problems with liquidity. We have been welcomed with open arms at the CES, which makes us hopeful for the future,” said Wahl.

In September, Rockford Corp., maker of the popular Rockford Fosgate brand of car audio speakers, amplifiers and head units, announced plans to restructure its operations and place MB Quart in Germany in receivership.Rockford said this action would stem losses of approximately $750,000 per quarter. Rockford also announced plans to return to its core car audio business and divest itself of non-core related businesses. The company owns several home audio and professional audio companies including Hafler, Fosgate Audionics and NHT.

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