CONFORMED
Securities and Exchange Commission
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant To Rule 13a-16 Or 15d-16
Of The
Securities Exchange Act of 1934
For the month of May 2008 Commission File Number 1-11854
NATUZZI S.p.A.
(Translation of Registrant's name into English)
Via Iazzitiello 47
70029 Santeramo, Italy
(Address of principal office)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
(Check One) Form 20-F x Form 40-F
---- ---
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
(Check One) Yes No X
--- ---
(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b). 82-__.)
Natuzzi S.p.A. Investor Relations Dept.
Via Iazzitiello 47, Tel.: +39 080 8820.812
70029 Santeramo (BA) - Italy investor_relations@natuzzi.com
Tel.:+39 080 8820.111 Corporate Press Office
Fax: +39 080 8820.241 Tel.: +39 080 8820.124
www.natuzzi.com relazioni.esterne@natuzzi.com
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FOR IMMEDIATE RELEASE
NATUZZI S.P.A. ANNOUNCES A TEMPORARY WORK FORCE REDUCTION
Santeramo in Colle (BA), May 5, 2008 - The Natuzzi Group ("Natuzzi" or "the
Group") announces a temporary work force reduction (Cassa Integrazione Ordinaria
- CIG) effective from May 19, 2008 that will involve 1,200 positions within the
Italian plants for thirteen weeks.
The Group has taken such a decision because of the weak trend of the order flow
caused by the generalized challenging business conditions and the unfavourable
level of Euro exchange rates against major currencies, US dollar in particular.
Furthermore, Natuzzi S.p.A., together with other important manufacturers located
in the South Italy within the so-called "upholstery district", has promoted the
setting up of a special task force with the aim of asking the highest offices at
local as well as national level to declare the state of heavy crisis for the
industrial sector. The task force drafted a document to plan different
initiatives including:
- the request for tax concessions through employer's contribution allowances
and tax credit on sales to outside the Eurozone;
- the setting up of a guaranty fund to cover turnaround activities;
- the enforcement of the Italian law 181/1991 to support those regions hit by
industry crisis;
- the grant of contribution relief for international trade fair events;
- the financing of training courses to facilitate the placement of workers
also in sectors different from upholstery;
- further improvement of social shock-absorbers.
Lastly, the same task force will fix a set of common projects to reach synergies
necessary to enhance competitiveness for the whole upholstery industry.
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ABOUT NATUZZI S.P.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a
broad collection of leather-upholstered residential furniture.
Italy's largest furniture manufacturer, Natuzzi is the global leader in the
leather segment, exporting its innovative, high-quality sofas and armchairs to
123 markets on 5 continents.
Since 1990, Natuzzi has sold its furnishings in Italy through the popular Divani
& Divani by Natuzzi chain of 125 stores, and 1 Natuzzi Store. Outside Italy, the
Company sells to various furniture retailers, as well as through 173 licensed
Divani & Divani by Natuzzi and Natuzzi Stores.
Natuzzi S.p.A. was listed on the New York Stock Exchange on May 13, 1993. The
Company is ISO 9001 and 14001 certified.
CONFORMED
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
NATUZZI S.p.A.
(Registrant)
Date: May 05, 2008 By: /s/ SALVATORE GAIPA
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Salvatore Gaipa