COINDU | Sustainability Report 2023

INTRODUCTION and history The company was founded in 1988 under the name Conflex, operat- ing out of rented facilities located in Labruge-Joane, town hall Vila Nova de Famalicão. At the time the company mainly manufactured Big Bags (large bags for various applications). Three years after it began operating, it was constructed a new larger unit, in order to meet the market demands of the time (increased orders). It is then that it became known as COINDU and began to transition its business into production of fabric and leather upholstery (covers) for automobiles, employing 182 workers, 159 of them working at production. Today, COINDU business is in the automobile components sector, sup- plying covers in natural leather and fabric for seats and accessories, such as arm rests, head rests, panels, etc. It is against a backdrop of high standards for quality, flexibility and com- pliance with delivery deadlines, demanded at the automobile industry, that COINDU business has experienced high growth since that time. Because of its growth, in 1999 COINDU reached its maximum produc- tion capacity. The availability of labour from the areas surrounding its facilities illustrated that expanding its manufacturing installations was not an option to be considered. However, COINDU faced a growing pressure from our customers to increase its potential supply. Accordingly, the company decided to initiate the construction of a second manufacturing unit in June 2000, at the new industrial park 1. Introduction and History History 10