Multinational Blum invests €1.5 million in Gaia

 In Investment, News

Luso Blum, a subsidiary of the Austrian multinational Julius Blum which makes furniture fittings, has just invested €1.5 million in revamping its premises in Porto’s Vila Nova de Gaia as part of its “long term strategy.”

“We are continuing to invest in a growth strategy in the metal fittings for furniture sector and this €1.5 million investment strengthens our presence in Portugal. These new premises were designed to meet a growing demand for our products” the Managing Director of Luso Blum, Luísa Lopes told the online news agency ECO at the inauguration of the new premises in São Felix da Marinha, Vila nova de Gaia.
The investment now made in Portugal has enabled an increase in warehousing area which now has a capacity for over 2,200 pallets and the expansion of its showroom which has tripled in area and has been totally revamped.
“We have almost tripled the area of our premises and our warehousing capacity with a 1,715m2 warehouse and a 339m2 showroom which is a very significant expansion for a company that invests national capital.”
“Today we are more independent and have innovative metal parts solutions in three product groups (doors, drawers and hinges).
Julius Blum GmbH has had a subsidiary in Portugal since 2012 but does not manufacture but stores and supplies some of the “most prestigious furniture manufacturers in Portugal”.
It has 16 employees, and over four years has enjoyed “exponential growth” with a 9% turnover increase in 2018 to €7.5 million and this year expects to achieve €8.1 million and €9 million in 2020.