Thus USA guitar production ceased between late 1984 till October of 1985 until the new factory was built in Corona, California. Bad news though, the sale did not include production facilities in Fullerton, California. This investment group formally became the Fender Musical Instruments Corporation or FMIC. ![]() Here is what happened: In 1984 CBS decided to sell Fender and finally, an investment group led by William (Bill) Schultz bought it in the month of March for twelve and a half million dollars. At that time, Fender USA was still trying to get back up on its feet after the CBS buyout, as USA quality under CBS ownership let their standards really slip. ![]() In fact, the new Fender USA management guys "almost cried" when they traveled to Japan and saw the quality. ![]() The Japanese are, as many of you know, masters at copying-as these guitars testify. The MIJ (Made in Japan) and CIJ (Crafted in Japan) guitars are very high quality.
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