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Firm has 8.88% stake in Natuzzi

By Furniture Today Staff -- Furniture Today, February 2, 2003

New York — Tweedy Browne, an investment company based here, has acquired an 8.88% stake in leather upholstery maker Natuzzi, according to documents filed with the Securities and Exchange Commission.

As of Dec. 31, Tweedy Browne owned 4.9 million Natuzzi American Depositary Receipts, the filing indicated. The company said it believes the Italian-based producer is a good investment, and that it does not intend to influence management.

Pasquale Natuzzi, founder, president and chief executive officer of Natuzzi, holds about 52% of the stock.

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