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When CBS shed its non-broadcast media businesses in the 1980s, a group of employees and investors led by Schultz bought Fender from CBS in 1985. The sale put the Fender name back into the hands of a small group of dedicated people committed to creating the world’s best guitars and amplifiers.

The new Fender Musical Instruments Corporation (FMIC) had to start from scratch—there were no buildings or machinery included in the sale. FMIC owned only the name, patents and some leftover parts. Supported by a core group of loyal employees, dealers and suppliers (some of whom had been with the company since Leo Fender founded it), Schultz and his colleagues set out to rebuild an American icon.

The new Fender initially imported its guitars from offshore manufacturers with proven ability to produce affordable and viable instruments, but the move toward greater quality control soon led to the establishment in 1985 of Fender’s flagship U.S. factory in Corona, Calif. A second modern manufacturing facility opened in 1987 in Ensenada, Mexico.

Also in 1987, the renowned Fender Custom Shop opened at the Corona facility, creating dream instruments for professional guitarists and guitar enthusiasts. Fender had always recognized the importance of an open-door policy for professional musicians, accommodating their requests for specific features on an individual basis. The Fender Custom Shop has since become known worldwide and industry-wide as the pinnacle of craftsmanship and sheer instrumental artistry.

FMIC moved its corporate headquarters from Corona to Scottsdale, Ariz., in 1991. From there, Fender coordinates its administration, marketing, advertising, sales and export operations in the United States and its international satellite facilities in England, France, Germany, Japan, Mexico, the Netherlands, Spain and Sweden.