Essential Business

Cork leader celebrates 30 years on the stock market

By

Essential Business

 In News

Amorim, the Portuguese cork giant founded in 1870, celebrates 30 years listed on the stock market this month.

Over three decades it has seen its market value increase ten-fold to €1.5Bn and with BCP, Mota-Engil, Vista Alegre and Ibersol are among the most important Portuguese companies listed on the Portuguese stock market, PSI-20.

Founded in 1870, the year in which the grandfather of Américo Amorim, António Alves Amorim, founded a factory making corks for port wine bottles. One-hundred and forty-eight year later, the group has changed and grown having recorded over €700m in sales in 2017 worldwide where it has been the market leader since 1962 in the production of cork, with a current stock market capitalisation of €1.511 million.

This value corresponds to around 10 times more than in 1988. At that time Corticeira Amorim’s stock market capitalisation combined with Amorim & Irmãos, Champcork and Ipocork, companies that merged in 1989 to create a single entity worth €165 million.  

Corticeira Amorim is the largest producer and supplier of cork stoppers worldwide and in whom the main wine producers trust. It sells to over 15,000 active clients in 82 countries, including some of the world’s most renowned wine producers. The experience of around a century and a half of activity in this field and a development/innovation standing provide a unique guarantee in the supply of quality products.


Read More