Piano producer Calisia likely to appear on WSE in 2004

Shareholders of the only Polish piano and grand piano producer, FPiF Calisia, have decided to transform it into stock company. "This will probably take about 18 months to accomplish. The IPO on the Warsaw Stock Exchange (WSE) is then likely to follow in 2004," said Calisia president Tadeusz Sobczak. According to the company, it controls about 75% of the domestic market. "Our main competitor is Yamaha," added Sobczak. However, exports, mainly to EU states, accounts for about 80% of Calisia's sales. "International demand for pianos is growing. We have good chances of winning back our old markets like China, Turkey, USA and Canada," claims Sobczak. In 2003 the company plans to increase its sales and employment from 85 to 110. (Puls Biznesu, pp. 1, 9) M.M.