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NEWS RELEASE 99-068; MAY 20, 1999 May 20, 1999
News Release 99-068
Inv. No. 332-401

ITC RELEASES FACTFINDING REPORT ON
ECONOMIC AND COMPETITIVE CONDITIONS AFFECTING THE U.S. PIANO INDUSTRY

Approximately 400,000 vertical pianos and 60,000 grand pianos were sold globally in 1997, according to a report released today by the U.S. International Trade Commission (ITC).

The ITC reported that Korea was the largest single market for vertical pianos, followed by China, the United States, and Japan. The United States was the largest single market for grand pianos, followed by Japan, according to the report.

The ITC, an independent, nonpartisan, factfinding federal agency, conducted the investigation, Pianos: Economic and Competitive Conditions Affecting the U.S. Industry, at the request of the U.S. House of Representatives' Committee on Ways and Means. As requested, the ITC's report includes an overview of the global market, a profile of the U.S. piano industry, profiles of leading manufacturers in Japan, Korea, China, and Indonesia, and a comparison of the competitive strengths and weaknesses of U.S. and foreign producers. Following are highlights of the report:

The ITC's report Pianos: Economic and Competitive Conditions Affecting the U.S. Industry (Inv. No. 332-401, USITC Publication 3196, May 1999) will be posted on the ITC's Internet server at www.usitc.gov. A printed copy may be requested by calling 202-205-1809 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may be faxed to 202-205-2104.

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