Compete2020
Project name | Productive Innovation COVID-19 Project code | 48003 Main objective | Strengthening competitiveness of SMEs Intervention region | North Beneficiary entity | Fergotex – Fábrica de Malhas Têxteis, Lda.
Approval date | 07-05-2020 Start date | 01-05-2020 End date | 31-07-2020 Total eligible cost |€ 567,500.00 Financial support by European Union | European Structural ad Investment Funds – € 454.000,00
The objective of this project is to readjust the company’s production in order to be able to produce protective clothes and equipment necessary to fight against COVID-19. The production of this type of item involves the need to produce large quantities in order to become profitable. With the planned investment in machines that suit this purpose, the production capacity will increase significantly, which will enable, in addition to greater profitability, greater response capacity. All this will lead to greater competitiveness for the company.
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