Corticeira Amorim SGPS S A : informs about the acquisition of a property that includes a set of forestry assets that constitute a part of the former Herdade de Rio Frio
CORTICEIRA AMORIM today acquired through its subsidiary COLD RIVER'S HOMESTEAD SA, S.A. an 1,855- hectare plot of land owned by Novo Banco for a total amount of 22.3 million euros
This property includes a set of forestry assets that constitute a part of the former Herdade de Rio Frio and which are adjacent to the properties already owned by COLD RIVER'S HOMESTEAD SA, S.A.
As opportunely announced, CORTICEIRA AMORIM plans to improve the productivity of its agroforestry assets at Herdade de Rio Frio by increasing the tree density of this unique cork oak forest. This acquisition will enable CORTICEIRA AMORIM to expand its area of intervention with important gains in scale and operational leverage.
The preservation of the cork oak forest is one of the strategic goals of CORTICEIRA AMORIM, which intends to continue its active participation in the intervention in new cork oak plantations through land purchases, leasing or partnerships. The company's objective is to carry out applied research on the impacts of irrigation, fertilisation, nutrition and soil on the cork oak tree and to help promote and disseminate the use of new techniques for planting and managing the cork oak forest that are more efficient and resilient to forecast climate scenarios.
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
+ 351227475423
+ 351 227475407
ana.matos@amorim.com
Share Capital: € 133 000 000,00
A company incorporated in Santa Maria da Feira - Portugal
Registration and Corporate Tax ID No. PT500077797
instagram: amorimcork
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Corticeira Amorim SGPS SA published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 15:57:10 UTC.
Tracing its roots back to the 19th century, Corticeira Amorim, SGPS, S.A. has become the world's largest cork and cork-derived company in the world, generating more than EUR 1,021 million in sales to more than 100 countries through a network of dozens of fully owned subsidiaries. With a multi-million Euro R&D investment per year, Corticeira Amorim, SGPS, S.A. has applied its specialist knowledge to this centuries-old traditional culture, developing a vast portfolio of products, solutions and materials that are used by blue-chip clients in industries as diverse and demanding as wines & spirits, aerospace, automotive, construction, sports, architecture and design.
Net sales by business unit break down between Cork Stoppers (72.8%), Floor and Wall Coverings (12.5%), Composite Cork (12%), Insulation Cork (1.4%) and Raw Materials (1.4%).
Net sales are distributed geographically as follows: Portugal (7.5%), EU excluding Portugal (62.6%), Other European countries (2.4%), the United States (14.6%), America excluding the United States (7%), Australasia (4.5%) and Africa (1.4%).
Corticeira Amorim, SGPS, S.A.'s responsible approach to raw materials and sustainable production illustrates the remarkable interdependence between industry and a vital ecosystem - one of the world's most balanced examples of social, economic and environmental development.
Corticeira Amorim SGPS S A : informs about the acquisition of a property that includes a set of forestry assets that constitute a part of the former Herdade de Rio Frio
CORTICEIRA AMORIM, SGPS, S.A. 
