|For over 90 years we transformed projects in roads, bridges, viaducts, railways, WTPs, hospitals, schools, office and residential buildings ... in Portugal, Angola, Mozambique, São Tomé and Principe, Venezuela, Macau, Brazil .... For over 90 years we built your world.Soares da Costa. Building Your World.
Soares da Costa Construção, SGPS, SA, from a formal point of view, was established on December 30, 2002, with the contribution of its (then) sole shareholder - Grupo Soares da Costa SGPS, SA (currently SDC Investimentos, SGPS, SA) - the portfolio of investments in the construction business area.
However, the origin of what is today Soares da Costa goes back to 1918. From a small company, with 10 workers mainly dedicated to the implementation of high quality finishing works, to one of the largest Portuguese companies in the construction industry, with a global presence.
Throughout its long existence, the Company has gone through several stages of growth, always following the signs of times:
- In 1944, it was converted into a limited company (sociedade por quotas), with a 8 million Escudos capital;
- In 1968, and already with activity in the northern region of Portugal, is was transformed into a public company (sociedade anónima) with a capital of 9 million Escudos, still wholly owned by the heirs of the founder;
- In the period that followed the Revolution of 1974 in Portugal, reacting with innovation to the crisis that hit the market, the Company encountered in construction, using the "tunnel formwork" technology, the path to its continued growth. In 1977, now with over 4,000 employees, the headquarters moved into a new building on Avenida da Boavista (Porto);
- In the early 80s of last century, the Company started its international expansion, electing Venezuela and Guinea-Bissau as its first international markets; the Company’ share capital increased to 180 million Escudos;
- Also in the same decade, taking advantage of the explosive growth of the infrastructure in Portugal following the country’ membership to the European Community, the activity of the Company expands to the infrastructures sector, diversifying its activity that was almost exclusive focused on the construction of buildings;
In 1988, after an internal shareholders’ structure change, but still not losing its familiar nature, the Company went through a period of greater exposure to the financial market, concluding a new capital increase to 5,250,000 thousand Escudos;
- During the 80s and 90s, the international activity of the Company diversified and the exportation’s volume grew. The presence in markets as distant from each other as Iraq, Macau, Egypt, Guyana, Angola, Mozambique, Guinea-Bissau, Cape Verde and Germany are examples of lucidity in search of opportunities and Soares da Costa’s ability to take advantage from them;
- The entry of the Company in the United States market happened in 1994 with the establishment of SDC Contractor Inc.;
In 2002 the Company suffered a new restructuring that led to the formalization of the economic group. Sociedade de Construções Soares da Costa, SA became a holding company named Grupo Soares da Costa, SGPS, SA, with a registered capital of 160 million Euros, which in turn wholly owned the share capital of four other management companies of shares, each topping the holdings of the respective business segment. Soares da Costa Construção, SGPS, SA, had the task of managing the construction business, being established with a share capital of 90 million Euros;
- The period between the end of 2006 and early 2007 is another milestone for the Company, with the acquisition by Investifino - Investimentos e Participações, SA, that took control of Soares da Costa Group. The familiar profile that was closely linked to the management until then (and especially to the image of the Company) disappeared, giving rise to a new management philosophy, more professional and modern.
It is long and complex the history of Soares da Costa in the construction market, but in its various stages always sought and knew how to find space for modernization and growth. Thus, Soares da Costa Construção, SGPS, SA has the responsibility to honour its activity, its history and experience, based on its past but always knowing how to find, in the present, the growth path that will confirm its future.
Soares da Costa has shown tremendous growth and momentum since its formal birth. In 2008, the Company acquired Contacto in Portugal and Prince, in the state of Florida, United States, also integrating its subsidiary Clear.
During 2011 was also incorporated by merger, Soares da Costa Indústria, SGPS, SA. That same year, taking into account the substantial changes in the macroeconomic environment, the shortage of funding and the strong contraction of the domestic construction market, the management of Soares da Costa adjusted its previous strategic plan.
This update directed the current strategic guidelines to the geographical diversification of the activity, the construction business and financial sustainability of the operations.
Already in 2014, we also highlight the capital increase in the amount of 70 million Euros that occurred on February 12, fully subscribed and paid in cash by the entry of a new investor, GAM Holdings, that gave it the ownership of 66.7% stake in Soares da Costa Construção, SGPS, SA. This operation marked a new stage in the Company's life, a stage the Company will face more strengthened and ambitious.