Portugal’s Sonae Indústria studying entry into Angolan market

28 December 2010

Lisboa, Portugal, 28 Dec – Portugal’s Sonae Indústria, the world’s second-largest producer of wooden panels by installed capacity, is studying entry into the Angolan market and does not expect to close any more factories in 2011, its chief executive said.

Speaking to the Reuters news agency, Carlos Bianchi de Aguiar said he expected profitability indicators would significantly improve in 2011, “namely in more robust economies such as Germany and South Africa,” as well as Canada, “where we have greater competitive advantages.”

He said that Sonae Indústria hoped to continue to see improvement in its operating margins in 2011 as a result of restructuring and a positive outlook for the German market, despite production costs continuing to rise.

In the last two years, Sonae Indústria has got smaller having closed some factories and left the Brazilian market, which helped to improve its EBITDA (earnings before interest, tax, depreciation and amortization). (macauhub)