The production upgrade in Baia Mare is part of an investment program of EUR 50 million within entire Natuzzi group. The factory is a greenfield project, where Natuzzi invested by far more than EUR 38 million.
EximBank granted the furniture manufacturer in September a credit line of EUR 10 million for working capital. EximBank could also sustain additionally the company’s investment plans, have declared the company’s representatives.
The largest part of the factory’s production goes to export, the main markets being large European countries such as Germany, Great Britain, France and Spain.
In Romania, Mobexpert is the only direct client of the factory in Baia Mare.
Italsofa Romania expects in the following years to increase orders. Currently, the company has more than 1,300 employees and will need additional 100 persons.
The factory in Romania has the opportunity to increase production in order to cover the growing request in Europe, has declared the financial director of the group, Vittorio Notarpietro.
"There are growing markets such as Great Britain. Romania becomes a main asset. Up to recently, the market was taken over by Chinese investors, but now Romania could expand ", he added.
The Romanian authorities need to act fast in order to improve the transport infrastructure, as well as to support the research activity of the companies and the education sector.
China, one of the countries competing with Eastern Europe in terms of low labour costs is investing massively in infrastructure, but doesn’t have the advantage of Romania of being situated to close to Western Europe, Notarpietro declared.
The factory has an area of more than 76,000 sq. m and is one of the largest greenfield investments in the local furniture industry, Italsofa being the second largest Romanian furniture manufacturer, following Aramis.
Natuzzi, the largest furniture manufacturer in Italy, also owns factories in china and Brazil. Last year, the group, which operated eight factories, 12 commercial offices and more than 1,500 points of sale, has a turnover of nearly half a billion Euros. (Source: wall-street.ro)
