General Shareholders’ Meeting Of Natuzzi S.p.A.

  • APPROVED NATUZZI S.p.A. FINANCIAL STATEMENTS 2010
  • APPOINTED BOARD OF DIRECTORS FOR THE YEARS 2011-2013

The Natuzzi S.p.A (NYSE:NTZ) Annual General Shareholders’ meeting, held today, has approved the Financial Statements of the Parent Company for the fiscal year ended on December 31, 2010 and also acknowledged the 2010 Consolidated Financial Statements.

As previously announced the Natuzzi Group reported, for the entire year 2010, Total Net Sales of € 518.6 million, up by 0.6% versus previous year, and a Net Group loss of €11.1 million, with a significant improvement as compared to 2009.

The General Shareholders Meeting has, moreover, appointed the new Board of Directors, for the period 2011-2013, composed of the following directors: Pasquale Natuzzi, Anna Maria Natuzzi, Antonia Isabella Perrone, Maurizia Iachino Leto di Priolo, Giuseppe Antonio D’Angelo, Giuseppe Desantis, Pietro Scott Iovane, Giuseppe Marino and Andrea Martinelli.

On May 2, 2011 the new Board of Directors will meet for the appointment of the Chairman and to resolve upon possible delegation of powers.

About Natuzzi

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of residential upholstered furniture. With consolidated revenues of EUR 518.6 million in 2010. Natuzzi is Italy's largest furniture manufacturer. Natuzzi Group exports its innovative high-quality sofas and armchairs to 130 markets on five continents under two brands, Natuzzi and Italsofa. Cutting-edge design, superior Italian craftsmanship and advanced, vertically integrated manufacturing operations underpin the Company's market leadership. Natuzzi S.p.A. has been listed on the New York Stock Exchange since May 1993. The Company is ISO 9001 and 14001

Copyright Business Wire 2010

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