Please Help me Identify this Chair  

I picked this leather, folding, lounge chair from my grandparent's bookstore they recently closed. I remember sleeping in this chair since I was a small child. It is in mint, flawless condition. The only visual markings are "MOD METAL-FAR" under the armrest and a sticker that says "Made in Italy". A google search only reveals an auction, but no insight on this piece without paying money. I would just like to know about this intriguing piece of furniture such as who made it, how much did it cost, how much does it cost now, and any other fun facts about this chair. Any help would be GREATLY appreciated.