Natuzzi Provides Update on Impact of Coronavirus on Its Operations
Natuzzi, S.p.A. (NTZ)
US:NYSE Investor Relations:
natuzzigroup.com/en-en/ir/investors.html
Company Research
Source: Business Wire
SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--Natuzzi S.p.A. (NYSE:NTZ):In response to the evolving situation related to the coronavirus outbreak in China, the Company is following the guidelines of local authorities as it prioritizes the health and safety of its employees, suppliers and retail partners. Indeed, the well-being of our colleagues and friends in China is of paramount importance. We continue to closely cooperate with local health experts as this emergency continues.Our Chinese plant – located in Shanghai - currently serves both the Asian and the North American markets and represents approximately one-fourth of our production capacity planned for 2020.In accordance to safety guidelines, our Chinese plant was closed for two weeks, in addition to the Chinese New Year holiday period. While operations in the Chinese plant have just re-started, we currently expect a gradual return to normal operating conditions by April.On the basis of such assumption, the Company expec
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