The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture Of Furniture
No information on job gains number available
Announcement Date
30 August 2016
Employment effect (start)
1 January 2017
Foreseen end date
1 December 2017
Description
Natuzzi is an Italian company that produces high-end furniture and sofas. In the past years, the company offshored most of its production in order to keep its position in the market. Currently the company produces in Italy, China, Romania and Brasil, but the company is planning a backshoring programme expected to start in 2017. The plan involves keeping the manufacturing of private label abroad and focusing production of own brand in Italy. The backshoring plan aims to backshore 50% of production currently in China and Romania. The production in Brasil should not change due to local market conditions that allow selling the full production. Moreover, from 15 October 2016 Natuzzi is going to switch from outsourcing to insourcing of foam cutting activities for sofa production. In first quarter of 2016, Natuzzi's turnover from its own branded sofas accounted for 71% of total turnover, totalling 120.7 mln€. EBITDA reached 4.3mln in the same period while it was 1.4mln in 2015. EBITDA margin rose 5% to 34.3%, net loss equalled 200.000€ from 9,8mln€. Natuzzi aims to decrease manufacturing costs from 1.13€ to 0.5€ per minute, thanks to the innovation of the production process envisaging cuts in dead time and manufacturing waste. The new production model has already been implemented at the Santeramo site, and it is currently being implemented at the Laterza site, it required 4,6mln€ in R&D investment. Meanwhile, the company is investing in several plants in Italy in order to reduce costs and gain competitivity. The plan should help Natuzzi to employ part of 330 jobs currently in mobility.
Eurofound (2016), Natuzzi, Reshoring in Italy, factsheet number 159, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/159.
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