Corticeira Amorim S.G.P.S., S.A., is a Portuguese subholding company belonging to the Amorim Group and claims to have been the world leader in the cork 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 the secondary sector of the economy. The term may refer to a r ...

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

Chairman The chair, also chairman, chairwoman, or chairperson, 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 gro ...

and

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

. 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 ...

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

Euronext Lisbon Euronext Lisbon is a stock exchange in Lisbon, Portugal. It is part of Euronext pan-European exchange. The most famous index is PSI-20. Euronext Lisbon trades equities, public and private bonds, participation bonds, warrants, corporate warrant ...

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 ...

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. 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 Sustainability is a social goal for people to co-exist on Earth over a long period of time. Definitions of this term are disputed and have varied with literature, context, and time. Sustainability usually has three dimensions (or pillars): env ...

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 (, ; ), or simply port, is a Portuguese wine, Portuguese fortified wine produced in the Douro, Douro Valley of Norte, Portugal, northern Portugal. It is typically a sweetness of wine, sweet red wine, often served with dessert wine, ...

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 António Rios de Amorim succeeded his uncle Américo Amorim 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.

Criticism

Corticeira Amorim suspended all exports to Russia and ceased direct investments in the country following the start of the Ukraine war.

External links

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

References