Corticeira Amorim S.G.P.S., S.A., is a

Portuguese Portuguese may refer to: * anything of, from, or related to the country and nation of Portugal ** Portuguese cuisine, traditional foods ** Portuguese language, a Romance language *** Portuguese dialects, variants of the Portuguese language ** Portu ...

subholding company belonging to the Amorim Group and claims to have been the world leader in the

cork Cork or CORK may refer to: Materials * Cork (material), an impermeable buoyant plant product ** Cork (plug), a cylindrical or conical object used to seal a container ***Wine cork Places Ireland * Cork (city) ** Metropolitan Cork, also known as G ...

industry for over 130 years, with operations in hundreds of countries all over the world. Corticeira Amorim is responsible for the management of 70 companies engaged in the cork

manufacture Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a rang ...

, research, development, promotion and sale of products and new solutions for the cork industry. António Rios de Amorim is the company’s

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

. Organized in five

Business Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...

Units – Raw-Materials, Cork Stoppers, Floor & Wall Coverings, Composite Cork and Insulation Cork – Corticeira Amorim sells an array of products largely to such industries as the aeronautical, construction and wine-producing industries; a result of the investment made in R&D. Amorim's holding company is listed on the

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stock exchange.

Company

The company’s

share capital A corporation's share capital, commonly referred to as capital stock in the United States, is the portion of a corporation's equity that has been derived by the issue of shares in the corporation to a shareholder, usually for cash. "Share capita ...

is €133 million. In 2007, Corticeira Amorim registered a positive growth of 2.5% compared to 2006, with a turnover of €453.8 million. Amorim performed fairly well in 2007 with operating profit increasing from €20.1 million to €23.2 million. Corticeira Amorim is the world’s leading producer of natural cork wine closures, with over 3 billion units produced annually. Hermann Simon mentioned this company in his correspondent Book as an example of a " Hidden Champion" (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- . P. 12) About 80% of its cork products are manufactured in the Iberian Peninsula. In 2007, the total workforce of Corticeira Amorim was 3795; the company provided training programmes to its employees, achieving a total of 54,428 hours of training (an average of 14.3 hours per worker).

Sustainability

Corticeira Amorim has issued its first Sustainability Report in 2007, the first of its kind in the cork industry. The report was distinguished by Corporate Register as one of the best three world’s

sustainability Specific definitions of sustainability are difficult to agree on and have varied in the literature and over time. The concept of sustainability can be used to guide decisions at the global, national, and individual levels (e.g. sustainable livi ...

reports in the Openness & Honesty category.

History

The origin of Corticeira Amorim dates back to 1870 when a factory for the manufacture of natural cork stoppers for

port wine Port wine (also known as vinho do Porto, , or simply port) is a Portuguese fortified wine produced in the Douro Valley of northern Portugal. It is typically a sweet red wine, often served with dessert, although it also comes in dry, semi- ...

bottling was established. Amorim & Irmãos, a cork manufacturing company incorporated in 1922, was the first member company under the current Corticeira Amorim, SGPS, S.A. umbrella of companies. In March 2001 Manuel Fernando de Amorim succeeded his uncle

Américo Amorim Américo Ferreira Amorim (21 July 1934 – 13 July 2017) was a Portuguese billionaire businessman, and a 50% owner of Corticeira Amorim, founded by his grandfather. He was the richest person in Portugal at the time of his death with a fortune esti ...

as CEO of Corticeira Amorim. The Department for the Development of New Applications for Cork and Cork Products was established in 2004 with a view to developing and designing new cork solutions as well as strengthening knowledge exchange among the different business units. Investment in R&D was again emphasized in 2007 when the creation of a new across-the-board support business unit designed to meet the innovation challenge was announced: Amorim Cork Research.

External links

Official Website
(English/Portuguese)
Amorim Group's Website
(English/Portuguese)
Amorim Cork America websiteAmorim USA websiteAmorim Cork Composites USA website

References

{{Authority control, state=expanded Forest products companies of Portugal Companies listed on Euronext Lisbon Holding companies of Portugal Conglomerate companies of Portugal

Company

Sustainability

History

See also

External links

References