France’s Nexteam buys failed Coindu factory

The French group Nexteam, which has a factory in Arcos de Valdevez in the Minho, has acquired the premises of failed car components company Coindu.

Nexteam, which produces components for the aeronautics and defence sectors, confirmed the purchase to the online news source ECO through its Managing Director in Portugal, Ulisses Freitas.

The Mayor of Arcos de Valdevez, João Esteves, said that the French group should occupy the former premises “this year” after completing adaptation works to the factory in the Upper Minho region of Portugal near Viana do Castelo.

The mayor also stated that Nexteam and Nosco, a company dedicated to the production of leather goods located in the Mogueiras Business Park (both located in Arcos de Valdevez), “will recruit a few dozen former Coindu employees by the end of the year”, who were unemployed at the end of last year.

“Nexteam aims to expand production in the aeronautics sector which is extremely important for us because apart from being a leading player, is a very dynamic sector both at European and international levels”, added the mayor.

In August 2024, Ulisses Freitas, the Managing Director of Nexteam in Portugal, told ECO that the company was looking for new premises given that it had entered the metal plates and sheets business and had a goal to up production and achieve a €50 million turnover and employ 200 by 2027.