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Natuzzi group sees 50% sales decline for its Baia Mare factory

Natuzzi group sees 50% sales decline for its Baia Mare factory
20.10.2009, 15:45 27

The management of Natuzzi, owner of Italsofa in Baia Mare, oneof the leading furniture manufacturers on the Romanian market,announced sales of the Baia-Mare-based manufacturer went down 50%in the first half of the year against the similar period of lastyear. "According to results posted in the shopping centres wherethe group distributes its products, Natuzzi sales in Romaniahalved, amid a decline in overall consumption. The overall turnoverof the Natuzzi group fell by 20% in the second quarter comparedwith the similar period of last year. This decline is due to theoverall contraction of the world's economy, especially to effectson clients in the United States," said Cosimo Cavallo, seniorvice-president for South, East Europe and Middle East of theNatuzzi group. According to representatives of the Natuzzi group,the group's international sales recovered compared with the firstsix months of 2009. "This suggests a gradual rebound of theEuropean furniture market, and has led to a production resurgence,the Romanian plant included," added Cosimo Cavallo. ItalsofaRomania posted 30 million RON (8.1 million euros) in net profitlast year, down 38% against the 48 million RON (14.4 million euros)reported in 2007. The turnover posted by Italsofa Romania last yearwent up 19% against the previous year, to 307 million RON (83.4million euros).

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