Angola: Portugal’s Porseg launches construction of factory in Luanda

9 April 2009

Porto, Portugal, 9 April – Porseg, the Portuguese market leader in manufacturing specialist doors, plans to build a factory in Angola this year, the company’s financial director, Nuno Espergueiro said in Porto Wednesday.

The new factory would be an investment of US$5 million, to be carried out in partnership with the Pinto Basto group, which is a specialised transport management and shipping agent.

Speaking to Portuguese news agency Lusa, Espergueiro said that, “the contraction seen in the Portuguese construction sector has led Porseg to reformulate its investment plan for 2009,” having delayed the project to expand its factory in Arcozelo, Vila Nova de Gaia, opting instead to “carry out small refurbishments and improvements.”

Espergueiro also said that “the new factory is currently at the stage of selecting a contractor,” and work is expected to begin in the second half of 2010. As well as the factory, the Angolan project also includes building housing for workers.

The project was launched in Angola in 2006 when the company was set up, but will be “speeded up” in order to meet the demand of the Angolan construction sector and reducing the strain on the Portuguese factory, leaving room to move into new markets.

Angola is Porseg’s only foreign market for specialist doors (security, fire doors and acoustic doors), with exports to the country accounting for 7 percent of turnover in 2008.

Porseg’s turnover in 2008 was 9.9 million euros, a rise of 2.3 percent against 2007. In the same period, the company’s pre-tax net profit was of over 963,000 euros, which was a year on year rise of 8.3 percent. (macauhub)