Portuguese Metalogalva inaugurates factory in the USA and forecasts revenue of 80 million euros in 2024.
In a statement, the VigentGroup company announced that the new US factory has 120 workers and will produce metal structures for the photovoltaic industry.
Portuguese Metalogalva, specialized in steel engineering and protection, inaugurates this week its first factory in the USA, in Memphis, Tennessee, expecting to generate revenue of 80 million euros in that market by 2024.
In a statement, the VigentGroup company advances that the new US factory – with 120 workers and producing metal structures for the photovoltaic industry – “strengthens the company’s commitment to this geography, allowing to increase production, ensure an agile commercial network, and proximity logistics” in its main export market.
“The investment in this production unit is part of Metalogalva’s strategy of sustained growth, which achieved its best result ever in 2022, with consolidated revenue of 400 million euros and EBITDA [earnings before interest, taxes, depreciation, and amortization] of 50 million euros,” it emphasizes.
With the new US unit – an investment whose value was not disclosed – Metalogalva now has two factories in the American continent, adding to the existing one in Brazil.
“The investments we have been making internationally reflect the ambition that characterizes our group, but also the awareness that we need to continuously invest in innovation and in consolidating our portfolio, in order to ensure an effective response to market challenges and the demands of our clients,” says the CEO of VigentGroup, quoted in the statement.
According to Sérgio Silva, the new factory in the USA allows the group to “increase its position and market share in a sector with high potential that will certainly maintain a fast-paced growth in the future”.
“At Metalogalva, we are always attentive to the opportunities that arise in the various sectors and markets in which we operate, identifying potential acquisitions that fit into the strategy and objectives we have defined,” he adds.
Metalogalva recalls that “in recent years, it has registered continuous growth in turnover volume, reflecting organic evolution and a set of acquisitions made in various markets”.
Recently, the company acquired the French company Petitjean and the lighting division of the German Europoles, both leading market companies in their respective countries, representing together more than 700 employees and about 120 million euros in revenue.
“The direct investment in the USA reinforces Metalogalva’s international expansion, increasing its response capacity on a global scale,” it emphasizes.
After closing 2022 with record sales, Metalogalva estimates to achieve consolidated revenue of 430 million euros this year, counting, on a global scale, with about 1,400 employees.
Founded in 1971, Metalogalva – Irmãos Silvas, S.A. is the oldest company of VigentGroup, claiming national leadership in the area of steel engineering and protection, and presenting itself as “one of the main European players in the production of public lighting columns and other structures related to areas such as energy transportation, renewables, telecommunications, highways, railways, and hot-dip galvanizing”.
It is currently present in 15 countries (Portugal, Spain, France, Germany, Poland, Belgium, United Kingdom, Algeria, Ukraine, Senegal, Brazil, France, Canada, Angola, and Saudi Arabia), owning 16 industrial units in Germany, Saudi Arabia, Brazil, France, Ukraine, Angola, Poland, Portugal, and now, in the USA.
VigentGroup, a Portuguese capital business group, with operations distributed in more than 15 countries, owns Metalogalva and Brasmar, a company specialized in frozen sea products and the processing and commercialization of codfish.
Currently, VigentGroup has more than 2,400 employees and registered, in 2022, an aggregate turnover of over 770 million euros.