Corticeira Amorim : invests 10 Million Euros to increase Hydrocork production
March 16, 2017 at 09:39 am EDT
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Portugal14/3/2017
New technology will be operational in early 2018 and will enable the company to increase its industrial production capacity for flooring solutions by 4 million square metres
Just two years after the launch of Wicanders' innovative premium range of Hydrocork flooring solutions, Corticeira Amorim is investing 10 million euros to strengthen its production capacity.
This decision reflects Hydrocork's tremendous customer response across all geographical markets, which has delivered very rapid sales growth, and made this product one of the most successful in the history of Corticeira Amorim, with the fastest-growing rate of market penetration.
António Rios de Amorim, Corticeira Amorim's Chairman and CEO reveals that 'This investment aims to provide one of Corticeira Amorim's most important business areas with a robust response capacity to market demands. This technology is even more relevant given that it also strengthens R&D processes for a new generation of truly innovative cork compound products.'
Hydrocork's rapid growth is based on its competitive advantages that have been extremely well perceived by customers: such as its water proof performance, reduced thickness (making it easy and quick to install), combined with the numerous benefits delivered by Corktech technology (thermal and acoustic insulation, walking comfort, body wellness and impact resistance). The Hydrocork range also comes with a lifetime warranty for home use. Its characteristics enable this cork flooring solution to be used in new areas - such as the kitchen and bathroom - and makes it ideal for the fast-growing market of renovations.
From 2018 onwards, the new technology will provide Corticeira Amorim with additional production capacity of four million square metres of floor space per year. With the new industrial line, it will also be possible to develop a PVC-free cork agglomerate with reduced CO2 emissions.
Finally, the new technology will also enable a wider range of thicknesses, densities and widths.
Corticeira Amorim SGPS SA published this content on 14 March 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 March 2017 13:38:25 UTC.
Original documenthttp://www.amorim.com/en/whats-new/news/Corticeira-Amorim-invests-10-Million-Euros-to-increase-Hydrocork-production/1558/
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Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 1,021 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (72.8%), Floor and Wall Coverings (12.5%), Composite Cork (12%), Insulation Cork (1.4%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal (7.5%), EU excluding Portugal (62.6%), Other European countries (2.4%), the United States (14.6%), America excluding the United States (7%), Australasia (4.5%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.
CORTICEIRA AMORIM, SGPS, S.A. 
