CORTICEIRA FEIRENSE AT AUCTION FOR OVER 400,000 EUROS

Assets of the insolvent cork company Lusobel Cortiças Lda (2248/21.5T8OAZ) are in Electronic Auction. Bidding can be made until April 24, 2024, at 6:00 PM, here.

The insolvent's liabilities consist of a complete Industrial Unit from the cork sector. Thus, the valuation of the cork company, in total, corresponds to a Base Sale Value of 411,170.00 €.

In summary, the commercial establishment for sale includes real estate, machinery and equipment, furniture and office equipment, and vehicles.

The properties are located in Mozelos, Santa Maria da Feira and are distributed as follows:

• Industrial Warehouse (2 Floors) with Yard and total area of 648.00 m²;
• Building intended for the cork industry with total area of 1,387.20 m²;
• Land with total area of 3,500.00 m².

Furthermore, the properties benefit from exemption from Municipal Tax on Onerous Real Estate Transfers (IMT) and Stamp Duty. This tax benefit is granted under Article No. 270, Nos. 1 and 2, of the CIRE.

About the Insolvent

Founded in 1989, Lusobel Cortiças Lda started its production with a focus on the finishing of cork stoppers. However, five years later, it developed one of several technological innovation processes in its history, the BEMA Process. That is, this process consisted of a new method of plugging and coating stoppers on a water-based basis.

Subsequently, in 2003, the cork company improved its activity with two types of finishing. First, with the finishing of natural cork stoppers and plugged natural stoppers for still wines. Then, with the finishing of agglomerated stoppers. As well as agglomerated stoppers with natural cork discs for still wines, sparkling wines, beer and cider.

About the Cork Sector

The cork sector reached a record in exports in 2023, reaching 1,232 million euros. This represents, in fact, an increase of about 2% compared to 2022. Currently, stoppers are the flagship of the sector, having surpassed 900 million euros in exports.

Investment Advantage

Therefore, the sale of the complete Industrial Unit constitutes an investment advantage. Undeniably, the total acquisition of the assets allows the investor to continue the activity of the cork company.

The catalog with all assets can be consulted here.

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Article by Cloe Mattos by LEILOSOC® dated April 20, 2024