Natuzzi S.p.A, a leader in leather upholstery and Italy's largest furniture manufacturer, announced that starting in the second half of October 2005 it will call back about 90% 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 our 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 we are 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 our customers."
ABOUT NATUZZI S.P.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of leather-upholstered residential furniture.
Italy's largest furniture manufacturer, Natuzzi is the global leader in the leather segment, exporting its innovative, high-quality sofas and armchairs to 135 markets on 5 continents. Cutting-edge design, superior Italian craftsmanship, and advanced, vertically-integrated manufacturing operations underpin the Company's market leadership.
Since 1990, Natuzzi has sold its furnishings in Italy through the popular Divani & Divani by Natuzzi chain of 136 stores, which it licenses to qualified furniture dealers. Outside Italy, the Company sells to various furniture retailers, as well as through 145 licensed Divani & Divani by Natuzzi and Natuzzi stores, including 6 Kingdom of Leather stores.
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