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The musical instrument market is being revived.
(From Access Czech Republic Business Bulletin)
Petrof (Hradec Kralove, Czech Republic), piano and upright piano manufacturer, is starting to improve its economic results in 2005 having averted a crisis in 2004. The crisis was caused mainly by low demand in the world, the leaving of a decisive customer and the blocking of bank accounts. The firm's radical economy measures culminated in the closure of its plant in Jirikov, the Czech Republic, at the end of 2004. Besides the plant, Petrof closed its plants in Ceska Lipa, Liberec and Moravsky Krumlov, all the Czech Republic, before the step. It dismissed a total of 360 persons from more than 1,000 original employees till the end of 2004. Petrof ...
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