Inovafil has been selected to join a small group of 20 companies to test a new technology that allows the production of multiple threads at the same time. “This invitation reflects the international recognition of our high performance rates,” says Rui Martins, CEO of the Portuguese spinning mill.
After a year of tests, Inovafil (like the remaining 19 companies) will have the option to buy the new machine, something that the Portuguese company intends to do, “if the testing period meets expectations”, in an investment of over 300 thousand euros.
The new machine will allow Inovafil to increase its portfolio of yarns, and replace some existing products with higher added-value ones, “which have less competition, will allow more margins, and will help differentiate us even more”.
With a factory located in Famalicão, Inovafil exports 40% of its production, employs about 120 people and closed 2018 with a turnover of 21 million euros in 2018.