Corticeira Amorim
Disclosure of Relevant Information
Mozelos, Portugal, May 5, 2022
Corticeira Amorim, S.G.PS., S.A. ("Corticeira Amorim"), pursuant to article 248-A, 1), a) of the Securities Code, hereby informs the market and, specifically, its shareholders that:
-
- Corticeira Amorim, through its subsidiary Amorim Bartop–Investimentos e Participações, S.A. ("Amorim Bartop"), has formed a joint venture called Elfverson–Investimentos e Participações, S.A. (Portugal), which is held in equal parts (50%/50%) by Amorim Bartop and the Portuguese company J.C. Ribeiro, S.G.P.S., S.A. ("J.C. Ribeiro SGPS").
-
- J.C. Ribeiro SGPS is a family holding company, which, together with the Ribeiro family, owns the entire share capital of J.C. Ribeiro S.A., a company with 35 years of history and business activity dedicated exclusively to the production and sale of capsulated stoppers. It currently has a team of about 90 employees and is present in more than 15 countries. In the 2021 financial year, J.C. Ribeiro SGPS recorded a consolidated turnover of €34.4 million.
-
- Both Amorim Bartop and J.C. Ribeiro SGPS have seen growth in customer demand for their capsulated stoppers, specifically stoppers with wooden capsules. These wooden capsules constitute a component ("Component") of the capsulated stoppers, the manufacture of which requires the use of new technologies to ensure the quality and exclusivity of the final product.
-
- The aforementioned joint venture was concluded, on the present date, by means of an increase in the share capital of Elfverson–Investimentos e Participações, S.A. in the total amount of approximately €14.3 million euros, made through cash contributions from J.C. Ribeiro, SGPS and by contributions in kind from Amorim Bartop in the form of 27,000 shares representing the entire share capital of Elfverson & Co Aktiebolag, a Swedish company exclusively dedicated to the manufacture and sale of the said components.
-
- Elfverson–Investimentos e Participações, S.A., also owns the entire share capital of the company Elfverson Portugal, S.A., which intends to build, in the municipality of Feira, a production unit for the said components.
-
- This operation was made possible thanks to the knowledge and historical connection between the Amorim and Ribeiro families, who intend in this way to enable both companies to expand their ranges of natural and sustainable products and solutions.
The Board of Directors
Corticeira Amorim, SGPS, S.A. Edifício Amorim I Rua Comendador Américo Ferreira Amorim, 380 4535-186 Mozelos, Portugal
www.corticeiraamorim.com
IRO: Ana Negrais de Matos, CFA T: + 351227475423 F: + 351 227475407
[email protected]
Share Capital: € 133 000 000,00 A company incorporated in Santa Maria da Feira – Portugal Registration and Corporate Tax ID No. PT500077797 instagram: amorimcork