"The first factory resulting from this partnership started up in Tunisia in 1992 under the name of Eletric Cable. In 1993, it was the turn of the second industrial unit, COFICAB, located in Guarda, where Delphi had, at the time, one of its main factories in Europe, employing almost three thousand people," he recalls.
Between 1992 and 2000, "both plants had Delphi as their exclusive customer and a combined turnover of 30 million euros," continues João Cardoso. Until, at the turn of the millennium, the group's management decided to accompany the relocation of wiring harness production to Eastern Europe and North Africa. According to the director, the focus on Development and Innovation would be reserved for Portugal. A setback that the Portuguese unit saw as an opportunity: "The competition for our company in Guarda became the technological elite in our field, then located in France and Germany.
After 22 years, we are not only the technological leader within the COFICAB group, but also the world leader in the automotive cable industry," says João Cardoso. The Guarda-based company is now the second largest in the group, "with a turnover of 300 million euros a year, compared to 20 million in 2000," he boasts. "We are not only the technological leader within the COFICAB group, but also the world leader in the automotive cable industry," says João Cardoso, COFICAB's director. The Guarda-based company is now the second largest in the group, "with a turnover of 300 million euros a year, compared to 20 million in 2000", he boasts.
COFICAB's business is currently making steady progress in the race to make the automotive industry more sustainable. "Our product is one of the beneficiaries of the ongoing commitment to automobile electrification," explains João Cardoso, who is confident about the "positive outlook" in the medium to long term. "We expect our company's turnover to grow by around 15% a year until 2030," he adds. Even so, in the short term, COFICAB is prepared for "difficult times".
"Inflation and the associated speculation are the most important challenges we currently have to manage," points out the company's director, who draws attention to the "huge increase in the price of raw materials, over 50%" and the "almost unbearable increase in energy costs, in the order of 400%". Although he foreviews "a very difficult second half of 2023 and the whole of 2024, with a sharp drop in demand, João Cardoso doesn't give up: "I'm optimistic that 2025 will view a very rapid recovery".
With internationalization as a "sine qua non" in an industry that gives priority to companies with a global presence, COFICAB currently exports 95% of its production. Although the Portuguese market accounts for "little" of the company's business, COFICAB plays an unquestionably important role in the business fabric of the Guarda region and the country. "We are the largest private employer in Guarda and the company with the highest turnover in the district," says the director. "We are world leaders in our sector and this brings the name of Guarda and Portugal to the international stage," he says.
To take the COFICAB flag from Guarda to the world, the company is counting on Altice's contribution. "In a globalized world like the one we live in, it's essential to have a technological partner to match," says João Cardoso, who also gives the example of "the cyber-attack we were victims of recently, which, thanks to our collaboration with Altice, we were able to overcome quickly and efficiently."