Belém Machado, the new stockholder of Tearfil, is preparing an investment of 3.5 million euro to relaunch the spinning company, which they purchased in July from the fund that manages the Moretextile group.
The first investment stage is estimated at 1.5 million euro, directed towards purchasing reeling equipment and machinery. Further down the line, new machinery and solar panels, to bring down the company’s electricity spending, constitute the second phase.
“Our strategy for Tearfil consists on directing the company towards big quantities and to the making of technical threads”, explains Belém Machado, a doctor who in 2001, with 23 years of practise, took off her doctor’s coat to manage Fifitex, her father’s spinning mill, rechristened SMBM in the meantime (initials of Sérgio Machado, the father, and Belém Machado, the daughter).
“I believed that I could do something to honour my father” – this is the simple way that Belém Machado justifies her decision, taken suddenly during a weekend, to turn her life around from a doctor to an industrial thread entrepreneur. With 200 workers and taking up 30 thousand m2 of covered industrial facilities, Tearfil closed 2018 with a turnover of 12 million euro and is a giant when compared to SMBM, its neighbour in Moreira de Cónegos, which employs 76 people and registered 2.7 million in sales last year.
Next year, Belém hopes to grow Tearfil’s sales by 20%. “In August we were closed, but our commercial representatives ensure us that they had never seen as many orders as they saw this September”, says the entrepreneur, defending the optimism of her predictions for 2020.