The move was agreed with the Italian Government and trade union representatives. Transfer is considered the most important event for Natuzzi, this year and in the future.
Natuzzi is present in Romania through the Italsofa Baia Mare factory, where it produces sofas and armchairs. In 2017, the last year reported, the factory in Baia Mare had business of 236.6 million lei and a net profit of 10.86 million lei, down from 17.44 million lei a year ago.
The factory has over 1,000 employees.
The Natuzzi Group was founded in 1959 by Pasquale Natuzzi, initially a small workshop producing leather sofas. Last year, the group - which operates a total of seven factories, 12 business offices and more than 1,100 outlets, with a total of more than 4,000 employees - reported consolidated revenues of 428.5 million euros, 4.5% compared with 2017. Operating losses increased from € 24 million to € 25.5 million, reflecting, among other things, the weak evolution of the furniture industry, the rise in raw material prices and also the "inefficiencies" in factories in Romania and Italy and unfavorable fluctuations in the exchange rate. (source: profit.ro)