Natuzzi’s board has approved a three-year business plan to increase sales and profitability that includes opening the company’s first production facility in North America. “We expect to open a facility in North America within 15 months,” said Cary Benson, president of Natuzzi Americas, the High Point-based arm of the Italian upholstery manufacturing giant. He would not specify whether the plant would be in the United States.
The business strategies for 2009-2011 will be presented to the financial community in November. Senior management will visit clients and investors in the United States and Britain to explain the plan beforehand.
In a statement, Natuzzi officials said they see the challenging business environment, particularly the global financial market crisis and low consumer confidence, as an opportunity to improve results.
The company said its balance sheet is sound, with minimal exposure to the banking system, which should allow it to self-finance the operational and investment projects defined in the plan.
Source: Furniture Today
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