MERIDIAN — Peavey Electronics Corporation is reorganizing its worldwide manufacturing assets as part of a new globalization plan to ensure continued growth worldwide.
The reorganization includes focusing U.S.-based manufacturing on Peavey’s premium products, and moving other manufacturing assets closer to its critical and emerging markets. The effort also involves modernization of production methods and a renewed focus on engineering, sales and marketing.
“In today’s global market, it is imperative that we operate as efficiently as possible,” said Hartley Peavey, founder and CEO of Peavey Electronics. “This reorganization will allow us to meet the growing demands of our global markets while providing the capital for further reinvestment in our company. We will observe our 50th anniversary next year with over 130 patents to our credit, and we will continue that legacy of innovation and quality.”
“The times have changed, and so must we,” added Courtland Gray, Peavey’s COO. “Globalization of our production resources means we reach the end consumer more quickly and reduce unnecessary cost. The musical instrument and pro audio market is more competitive than ever, and all of our efforts must focus on compelling products of high quality that lead each market segment.”
Peavey’s core business activities, such as product development, engineering, sales, marketing, accounting, technical support and service will remain in the Meridian headquarters. Global product training, service and support is expanding worldwide, with recent service and training center additions in Brazil and Singapore.
Peavey’s high-technology brands will continue to be produced in the United States. Product lines like MediaMatrix will expand production in the United States as installations increase worldwide.
In addition, Peavey’s premium brands like Composite Acoustics will continue production in its Meridian facilities.