Natuzzi S.p.A.: Update on the Company’s Operations and New York Stock Exchange Listing
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):On February 24, 2020, Natuzzi S.p.A. (the “Company”) provided preliminary updates on the impacts of the coronavirus on its operations in China (the “February Update”).Since then, the coronavirus has aggressively spread outside of China and, in particular, in Italy where the Government has adopted extensive containment measures in order to limit the epidemic.The overall situation remains critical and uncertain. The Company expects that its business levels, as discussed in the February Update, will not improve in the short term with a direct negative effect on the Company’s revenues.The Company continues to implement specific actions to help mitigate the impacts of the outbreak of the coronavirus on production levels and cash flow. These measures are expected to include the overall reduction of operating expenses, the deferral of some investments, as well as workforce-related actions.The outbreak of the cor
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