THE COMPANY
compete 2020
COVID-19 Productive Innovation
Productive
innovation
Project title | COVID-19 Productive Innovation
Project code | 48003
Main objective | Strengthening the competitiveness of SMEs
Intervention region | Northern Portugal
Beneficiary entity | Fergotex – Fábrica de Malhas Têxteis, Lda.
Approval date | 07/05/2020
Start date | 01/05/2020
Completion date | 31/07/2020
Total eligible cost | €567,500.00
European Union financial support | ESIF – €454,000.00
Objectives, activities
and expected/achieved results
The objective of this project is to adapt the company’s production processes in order to manufacture clothing and protective equipment required to support the fight against COVID-19. The production of this type of product requires large-scale output in order to be economically viable. Through the planned investment in suitable machinery, production capacity will increase significantly, enabling not only greater profitability but also an enhanced ability to respond to market demand. Overall, this will result in increased competitiveness for the company.