Between the start of the pandemic and the sector’s quick reorientation towards PPE production, Lunartex ended up producing an average of 18 million meters of rubber band per month, enough to encircle four times the earth globe in one year. With an investment of 500 thousand euros to adapt to the health sector, the company ended up closing 2020 with a turnover of around 7 million euro, almost doubling the results achieved in 2019.
“It was a very good year in numbers, but extremely exhausting, and I would prefer not to repeat it”, states the company’s General Director, Lara Ribeiro. After earning approximately 7 million euros in 2020, the manager expects to reach this year “slightly above the amount reached in 2019”, when Lunartex amounted around 4 million euros.
Devoted to the production of elastics and trimmings, the company that supplies ribbons, elastic tapes, elastics and cords for the major fashion brands, suddenly saw a large part of the Portuguese Textile and Clothing Industry sweep through its doors in search of elastics for Personal Protective Equipment.
“In March, we started to adapt production to the hospital sector, an investment of 500 thousand euros that in April was already functioning at full speed”, explains Lara Ribeiro.
The production for the health sector ended up weighing around 50% of the year’s turnover, and the manager has no doubts that this segment is here to stay. “In the future, it may represent 10 to 20% of our turnover”, she admits.
And if the company on average made 5 million meters of elastics monthly, 2020 ended up pulling the production up to close to 18 million, enough to encircle the earth globe more than four times. Lara Ribeiro laughs when she realizes that Lunartex has the ability to wrap the world.