Brazil: Portugal’s Efacec prepares to buy two engineering companies

22 January 2008

Lisbon, Portugal, 22 Jan – Efacec, a subsidiary of Portugal’s Mello group, is preparing the acquisition of two Brazilian engineering company, the company’s chairman, Luís Filipe Pereira said in Lisbon Monday.

At a press conference, Pereira said that the two companies would provide qualified resources for Efacec to meet the needs of the three power plant projects it has taken on as well as others that may come up in the Brazilian market.

At the conference to present the group’s new corporate image, the chairman of Efacec noted that the company would continue to focus on its international growth, an planned to invest over 100 million euros in new projects this year, mostly in acquiring foreign companies.

Of the total, 20 million euros had been earmarked for construction of the first stage of the new transformer factory in the state of Georgia, in the United States.

The aim of the investments is to ensure that most of the company’s sales are from foreign markets.

This year over 50 percent of turnover and over 60 percent of Efacec’s order portfolio will be from markets other than Portugal.

In 2007, 50 percent of orders where from foreign countries, but 61.8 percent of turnover came from Portugal.

According to Pereira: “Portugal is no longer the company’s main market, which is a trend that will increase in the future,” and for that, ‘we want to have production centers in several countries in the world,” he said.

For 2008, Pereira said he expected the volume of orders to reach 798 million euros, which would mean a rise of 46 percent against 2007. (macauhub)