Opening Ceremony for Sennheiser Audio in Moscow

WEDEMARK, Germany and MOSCOW, Russia, November 1 /PRNewswire/ -- Sennheiser GmbH & Co. KG, one of the world's leading manufacturers of audio technology, and the I.S.P.A. Group, which has been active in the Russian market for 17 years in the fields of cinema, video and audio equipment as well as system integration, IP-Broadcasting, television and radio, have jointly founded a new company in Moscow to serve the Russian market. The new company, Sennheiser Audio Ltd., will have its official opening ceremony on October 31.

German products are enjoying increasing popularity in Russia, and no other market is growing faster than this one: in 2005, the export of goods Made in Germany rose by 15.4 percent. "The brand and quality awareness in Russia is tremendous," said Rolf Meyer, President Marketing and Sales at Sennheiser and Speaker of the executive board. "For a premium brand like Sennheiser, it stands to reason for us to provide top-quality products as well as the company's services directly in the customers' own country."

Audio specialist Sennheiser has been enjoying strong growth worldwide for many years now. In financial year 2005 alone, the company from Wedemark near Hanover increased sales by more than 14 percent and exceeded the EUR 300 million mark in sales for the first time. "Ever since we founded our very first subsidiary in France in 1988, the international Sennheiser Group has continued to grow," said Rolf Meyer. "Our experience with our present 19 subsidiaries around the globe has shown us that only those companies that keep a close eye on the market and have local knowledge of the people and the markets in the countries concerned will be able to compete successfully."

I.S.P.A. and Sennheiser have been working closely together for 12 years. "I.S.P.A. offers complete solutions for television and radio stations as well as cinemas, theaters and sound studios in Russia," said I.S.P.A.'s managing director Andrej Kochukov. "We take care of everything from the audio technology right through to the interior design." As one of the world's leading manufacturers of audio technology, Sennheiser is the ideal partner for I.S.P.A.. "We have always benefited from good and productive cooperation," said Andrej Kochukov, who, together with Rolf Meyer, will form the Sennheiser Audio supervisory board. "And the foundation of Sennheiser Audio now places this on a new basis, allowing us expand new synergies and to develop new sales strategies. At the same time, I.S.P.A. will continue to be Sennheiser's sales partner."

The jointly founded company opens up new perspectives that go beyond the previous cooperation. "Under the umbrella of Sennheiser Audio, we can now gather together decision-making processes at management level and make optimum use of our resources," said Andrej Kochukov. "In such a rapidly growing market as that in Russia, it is a key competitive advantage for us."

The new managing director of Sennheiser Audio Ltd. will be Natalia Berezovskaya. Ms. Berezovskaya is a highly experienced marketing expert with many years of professional experience in sales, marketing and business development.

The Partners of Sennheiser Audio:

Sennheiser GmbH & Co. KG

As one of the world's leading manufacturers of microphones, headphones and wireless transmission systems, the Sennheiser Group with its headquarters in Wedemark, near Hanover, Germany, had total sales of about EUR 300 million in 2005. The export share is 83%. Sennheiser has a total workforce of more than 1,650 employees, of whom about 60% are employed in Germany. Sennheiser is active worldwide with its own subsidiaries in France, the UK, Belgium, the Netherlands, Denmark, China, Singapore, Canada, Mexico and the USA.

I.S.P.A. Group

For 17 years now, the I.S.P.A. Group has been providing a complete consultation service and technical equipment for television and radio stations, theaters, cinemas, concert halls, sound and video studios and the telecommunications sector. Its services range from project planning and budgeting to architecture, engineering, acoustic design and furnishing as well as investigation and development. The I.S.P.A. Group was founded by Andrej Kochukov, who was already very familiar with the audio market as a sound engineer. The major I.S.P.A. projects in recent years include the Kremlin in Moscow, the Moscow International Music House, the "Forum Hall" concert center and the TV stations Sport VGTRK and GTRK Kultura.

You can find the latest information on Sennheiser on the internet at www.sennheiseraudio.com or please contact us:

    
    Tatiana Porozhnyakova
    Sennheiser Audio Ltd.
    2nd Zvenigorodskaya str. 13; bldg. 43
    Moscow, 123022, Russia
    Tel. +7-495-229-37-01
    Fax: +7-495-229-37-02
    Porozhnyakova.T@sennheiseraudio.com

Tatiana Porozhnyakova, Sennheiser Audio Ltd. 2nd Zvenigorodskaya str. 13; bldg. 43, Moscow, 123022, Russia Tel. +7-495-229-37-01, Fax: +7-495-229-37-02, Porozhnyakova.T@sennheiseraudio.com