PHT-Print lays off in Hungary

The company has laid off 78 employees last week said PHT-Print’s managing director Istvan Gluck to local media. The company had to deal with a number of crises, the latest one at the end of 2003, when its only partner - an Austrian based PCB producer - transferred its production from PHT-Print to China. In 2004 the company received a contract from the Hungarian subsidiary of American Lear, which allowed the company to invest in new equipment in 2006. The Hungarian state contributed the bigger part of the investment, if the comnpany in return agreed to employ 96 people for five years.