Wednesday, January 05, 2005

Reel them in...

There have recently been quite a few postings on audio newsgroups stating that 'Quantegy' (formerly Ampex) have possibly closed the factory which makes analogue recording tape.

"Quantegy, Inc. has ceased operations pending restructuring. This is due to financial issues that have plagued the industry and Quantegy for some time. All employees are on lay off pending further notice," according to a brief press release issued by the company Friday. The Opelika plant, once employed some 1,800 workers, has recently filed Chapter 11 bankruptcy."

This could be catastrophic for the analogue recording world if something pheonix like does not rise from the ashes of this company.
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