Industrie Natuzzi announces formation of a new joint venture in Italy: Novum S.r.1.SANTERMO, Italy--(BUSINESS WIRE)--March 30, 1995--Industrie Natuzzi S.p.A. (NYSE NYSE See: New York Stock Exchange :NTZ NTZ No Transgression Zone NTZ Nuclear Testing Zone NTZ Neutral Zone ) announced today that it is participating in the formation of a joint venture among four of the leading Italian manufacturers of home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. . The venture, known as NOVUM, will franchise stores throughout Italy. These stores will sell a broad range of home furnishings products, from sofas to kitchen furniture, from bookcases to bedroom furniture, and including accoutrements ac·cou·ter·ment or ac·cou·tre·ment n. 1. An accessory item of equipment or dress. Often used in the plural. 2. Military equipment other than uniforms and weapons. Often used in the plural. 3. such as ceramic wares and lamps, in the low to medium price range. NOVUM will owned by Industrie Natuzzi (27%), Snaidero, a leading European kitchen furniture manufacturer (27%), Tisettanta, a leading Italian bedroom and living room furniture manufacturer (27%), and Tognana, a leading Italian ceramics maker (5%). The remaining 14% of the company will be held by a group of consultants. NOVUM's total paid-in capital Paid-in capital Capital received from investors in exchange for stock, but not stock from capital generated from earnings or donated. This account includes capital stock and contributions of stockholders credited to accounts other than capital stock. will be Lit. 2.0 Billion. NOVUM will utilize the experience of its owners to develop effective approaches to marketing, communications and information networks for franchisees and training of sales personnel. NOVUM plans to open 120 franchise stores in Italy over the next three years. Each store will have a similar layout and an identical range of products with an excellent value for the price. Each of Industrie Natuzzi, Snaidero, Tisettanta and Tognana will manufacture a new line of products bearing the NOVUM brand name for distribution through NOVUM stores. Industrie Natuzzi, Snaidero, Tisettanta and Tognana intend to maintain their current distribution channels in addition to marketing their products through NOVUM outlets. The Natuzzi Group is primarily engaged in the design, manufacture and marketing of contemporary and traditional leather and fabric upholstered furniture. Industrie Natuzzi is the world leader in the production of leather-upholstered furniture and has the leading share of the markets for such furniture in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. CONTACT: Industrie Natuzzi Elisabetta Vilizzi, 011/39-80-882-0111 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Joseph A. Mansi, 212/682-6300 ext. 205 |
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