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Healthy order book forces uphosltery leader Natuzzi S.p.A to recall workers

27
Sep '05
Leather upholstery leader Natuzzi S.p.A informs that the starting from the second half of October 2005 it will call back about 90 percent of the workers that were temporarily laid off at the Italian factories ("Cassa Integrazione") from last June.

The Group, in fact, plans to fully re-utilize the production capacity in its plants located in the Southern area of Italy, namely Puglia and Basilicata, in order to reduce the order back log accumulated during the production summer closing and provide for the seasonal increase of the order flow reported in the last 2005 quarter.

Pasquale Natuzzi, CEO and Chairman of the Board, commented, “The recall from Cassa Integrazione is a positive signal for Company, but the market is still difficult and uncertain”.

"The goals of the Restructuring Plan announced last May" added Pasquale Natuzzi "are confirmed: Reduce manufacturing costs in Italy, improve productivity and increase overall efficiencies so to become more competitive, recover profitability and regain market share especially in the medium-high end of the market where company is investing in the Natuzzi brand. At the October market at High Point in United States Natuzzi will present its new and charming collection that has already received encouraging comments from customers."

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of leather-upholstered residential furniture.


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