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SANTERAMO IN COLLE, Bari, Italy–(BUSINESS WIRE)–Natuzzi S.p.A. (NYSE:NTZ) and Kuka appear that today they accept entered into a basic acceding to anatomy a collective adventure to aggrandize the Natuzzi retail arrangement in Greater China.
Pasquale Natuzzi, Chairman and CEO of Natuzzi S.p.A., said: “We accept accepted Kuka for abounding years and accept consistently admired their advance aggressive ambitious spirit and approach. This celebrated affiliation will accredit Natuzzi and Kuka to become the arch amateur in the arising and growing bazaar for branded affluence home accoutrement in Greater China.”
Jiangsheng Gu, Chairman of Kuka, added: “We accept continued admired the position and backbone that Natuzzi has accomplished globally. This is the appropriate artefact and cast for the new advance we see in the Chinese home capacity market. By accumulation Natuzzi’s unparalleled position as the top cast in home accoutrement with Kuka’s able position in China, we as ally will be a force with which to be reckoned in the years to come. We are acutely aflame to be demography this different footfall with one of the world’s leaders in the industry.”
Subject to assertive acceding and altitude set alternating in the basic acceding and to accepting any applicative authorizations, it is accepted that Natuzzi will accord the absolute administration appropriate to perpetually use the Natuzzi Italia and Natuzzi Editions trademarks into a Chinese accumulated entity, and that Kuka will advance 65 actor Euros to sustain the amplification of the Natuzzi retail arrangement in Greater China. 15 actor Euros of Kuka’s investments is in barter for Natuzzi’s addition of the appropriate to perpetually use the Natuzzi Italia and Natuzzi Editions trademarks in Greater China, decidedly Mainland China, Hong Kong SAR and Macao SAR. Natuzzi and Kuka will own 49% and 51%, respectively, of the Chinese accumulated entity.
The basic acceding additionally envisages that Natuzzi will accord its absolute food and bartering alignment in China. Further, the collective adventure will account from Natuzzi’s retail administration aggregation who will be active by the collective venture. It is additionally accepted that the collective adventure will accomplish the absolute administration agreements accompanying to the Natuzzi arrangement of franchised stores. The basic acceding additionally contemplates that Natuzzi will absorb the appropriate to use the Natuzzi Italia and Natuzzi Editions trademarks for all accomplishment activities, including in Greater China, and administration in countries added than Greater China. Additionally, the acceding provides for Natuzzi to accumulation the collective adventure with articles at a assertive discount.
The parties apprehend to promptly alpha the activities to adapt the affidavit to apparatus the partnership. If the parties abort to ability a final acceding by March 31, 2018, the basic acceding shall be void.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
Assertive statements set alternating in this columnist absolution aggregate advanced statements aural the acceptation of the safe anchorage accoutrement of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Barter Act of 1934, as amended. These statements absorb risks and uncertainties that could account Natuzzi’s absolute after-effects to alter materially from those declared or adumbrated by such advanced statements. Added advice about the abeyant factors that could affect the Company’s business and banking after-effects is included in Natuzzi’s filings with the Securities and Barter Commission, including the Company’s Annual Report on Anatomy 20-F for the year concluded December 31, 2016. Natuzzi undertakes no obligation to amend any of the advanced statements afterwards the date of this columnist release.
About Natuzzi S.p.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is Italy’s better appliance abode and one of the best important all-around amateur in the appliance industry with an all-encompassing accomplishment cast and a all-around retail network. Natuzzi is the Italian affairs best-known cast in the accoutrement area common (Brand Awareness Monitoring Report – Ipsos 2016) and has been listed on the New York Banal Barter back 13 May 1993. Consistently committed to amusing albatross and ecology sustainability, Natuzzi is ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001 certified (Safety on the Workplace) and FSC certified (Forest Stewardship Council).
Jason Appliance (Hangzhou) Co., Ltd. is originated from a carpenter branch founded in 1982. Now it is one of the better upholstery appliance manufacturers and retailers in China. The aggregation is mainly affianced in research, design, assembly and sales of the average and middle-high upholstery appliance acclimated in active room, dining allowance and bedroom. It has three above accomplishment bases in China, added than 3000 mono-brand food in China and overseas, accouterment the aerial affection articles and casework for the all-around families. The aggregation was clearly listed on the Shanghai banal barter on October 14, 2016.
Jason Furniture (Hangzhou) Co. Ltd Chair – Jason Furniture (Hangzhou) Co. Ltd Chair
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