Natuzzi: Brazilian Plants NOT Sold

April 18, 2013  by in UnCategorized   

By Home Furnishings Business in Leather Upholstery on April 19, 2013

Leather furniture supplier Natuzzi (NYSE: NTZ) issued a statement this morning discrediting a report that its Brazilian factories has been sold.

According to the release, a news article published by Bloomberg cited a report from a Turkish newspaper indicating Istikbal Furniture had acquired Natuzzi's facilities in Brazil.

The company said the story is incorrect and just not true.

"None of the Brazilian plants that are owned by Natuzzi or its subsidiaries are subject to any kind of sale contract," the release said. "The company is currently exploring potential commercial partnerships that would allow for greater utilization of the capacity in its Brazilian plants, but has not entered into any definitive agreement in this respect."