Lisbon, Portugal, 06 April – Portuguese electromechanical engineering company is preparing to open a factory for manufacturing electrical materials in Angola as well as increasing its presence in China, Portuguese financial daily Diário Económico reported Wednesday.
According to the paper, which quoted a source from the company’s board of directors, the factory will produce and repair transformers and will also produce and assemble low and medium voltage fuse boxes.
The group is thus planning to expand its presence in Angola, where it currently has a sales delegation and an electrical repairs unit.
Along with its industrial activities Efacec also planned to take part in largest Angolan investment projects, the sources said.
The priority growth areas for Efacec, which this week held its annual general meeting, are engineering, maintenance and transport systems, as well as boosting its presence in the Chinese, Brazilian, Spanish and North American markets.
The group aims to become one of the biggest manufacturers of transformers and to be the technological leader in Shell transformers, the orders for which have been continuously increasing.
In 2005 Efacec posted turnover of 335 million euros and net profit of 14.5 million euros.
The group recently said it aimed to double its economic performance and the size of the group over the next five years and within ten years carry out the activities it has in Portugal in other continents. (macauhub)