“After an assessment of the existing production capacities in several industrial units of Amorim Cork Solutions, it was decided to transfer, as of 9 June, the industrial unit in Silves to the industrial unit in Venda Novas (which also produces insulation products)”, reads information sent to the Portuguese Securities Market Commission (CMVM).

According to the company, “the decision was based solely on operational efficiency, considering exclusively market issues, installed capacity versus market size and the location of the cork oak forest”.

The aim is to allow “greater competitiveness” in the expanded cork business, benefiting from “greater proximity to the raw materials used and the concentration of investments needed to achieve greater productivity”.

Lusa news agency asked Corticeira Amorim for further clarification on this reorganisation, and is still awaiting a response.

This transfer is part of the “significant investments in new technologies” that Corticeira Amorim says it is making “with a view to relaunching the expanded cork business”, which was integrated into the new Amorim Cork Solutions business unit at the beginning of this year.

This new business unit was created to incorporate the company’s flooring and insulation activities, concentrating the activities of Amorim Cork Flooring, Amorim Cork Composites and Amorim Cork Insulation, in order to ensure “more integrated management of operations and will enhance industrial, commercial and support synergies, strengthening the ‘non-cork’ business”.

In a statement released today, the chairman and chief executive officer (CEO) of Corticeira Amorim states that the creation of Amorim Cork Solutions “marks a new stage in the company’s history”.

António Rios de Amorim believes that the “significant improvement in the profitability of this business unit, already at the end of March, highlights the effects of more efficient management of operations and optimisation of existing assets, as well as the synergies resulting from the sharing of means and resources”.

Corticeira Amorim’s profit increased by 2.1%, to 16.4 million euros, in the first quarter compared to the same period in 2024, with sales falling by 2.2% to 229.4 million euros, the company announced today.

In a statement sent to the CMVM, the cork company states that, excluding the effect of the change in the consolidation perimeter resulting from the sale of the stake in Timberman Denmark, sales would have increased by 1.3%.