Trend of Key Indicators - Efacec

technology that moves the world 

1 

Share Capital: 41.641.416 Euros 

Registered Office: Arroteia - Leça do Balio 

Apartado 1018 - 4466-952 S. Mamede de Infesta 

Company fiscal number: 500 091 480 

Registered at the Porto: 500 091 480 

www.efacec.com 

2009 Management Report and 

Consolidated and Individual 

Financial Statements

Contents 

Message from the Chairman of the Board of Directors 4 

Message from the CEO 8 

Volume 1 

Management Report 

Profi le of the Efacec Group 

Statutory Entities 16 

Company Structure 17 

Governance Model 18 

Organisational Model 30 

Main Historic Milestones 32 

Indicators 

Macroeconomic Framework 38 

Trend of Key Indicators 40 

Economic and Financial Situation 42 

Information on business activity 

Market Units 45 

Business Units 85 

Management Systems 133 

Corporate Highlights in 2009 141 

Acknowledgements 145 

Proposal for the Appropriation of Profi t 146 

Volume 2 

Consolidated and Individual Financial Statement 

Documents Report 

Volume 3 

Sustainability Report 

3 




Dear Shareholders, Customers, Suppliers and 

Employees of the Efacec Group 

Another year has gone by and the time has come to 

report all that happened throughout the 2009 fi nancial 

year. 

It is widely known that 2009 was a year deeply affected 

by a weighty economic and fi nancial crisis that hampered 

the world's economy. 

And Efacec was not, as expected, immune to that reality, 

having to live with it in day-to-day activity. 

Nonetheless, we are very pleased to mention that despite 

all the diffi culties the company was able to achieve 

the best results ever in the year under review, which 

accordingly drove the net profi t up to EUR 27.1 million. 

Operating results stood at EUR 40.5 million. 

The 2009 year was undoubtedly a good year for the 

company. 

I must begin by expressing, on behalf of the Board of 

Directors and of myself, a special word of thanks to 

our Shareholders for all the support they constantly 

provided us. 

I believe I can say, overall, the demanding goals 

embraced by our business plan were achieved. 

In an organisational perspective, important steps were 

taken toward a systemic approach of risk that led to the 

creation of a Strategic Risk Management area at the 

corporate level. 

4 

However, some things did not run that smoothly. Some 

signifi cant engineering projects in Brazil sustained 

considerable losses for a variety of reasons, leading to 

an adverse impact on fi nancial results and generating the 

need to re-express the 2008 accounts. Although these 

processes will take some time to be completed, control 

of the situation has been restored. 

The effort to grow and prepare for the future has been no 

less important than the work focused on value creation. 

It should be noted from the outset - and it is not excessive 

to emphasize this - the on-going monitoring of a careful 

and proactive management of a portfolio of orders has 

been fundamental. At the end of the year the portfolio, 

peaked at EUR 1.100 billion and, given the nature of the 

company business, has to be prepared many months in 

advance. 

Perhaps the most signifi cant step in preparing for the 

future is the new power transformer plant in the United 

States of America - a global investment of around USD 

180 million. 

The fi rst stone was laid at the end of September 2008 

and it was with great pleasure that in late November 

2009 we witnessed the start of operations to build the 

fi rst transformer, which is expected to be ready to leave 

the production line in the second quarter of this year. 

It is undoubtedly a project that all Efacec employees can 

and should be proud of.

We will continue our efforts to grow and create value. 

Relations with our Customers continued to be marked 

by an increasing effort of convergence, always seeking to 

foster lasting and long-term relations. 

Customers’ trust in our products and services has 

resulted in orders that have once again surpassed the 

one billion euro barrier (EUR 1.004 billion). 

Around 57% of this amount is for orders originating 

abroad, which corroborates the continuity of our 

internationalisation project and consolidation of the 

markets which we operate in. 

It should also be noted that about 17% of the orders 

received came from markets still in a non-systematic 

approach phase, which confi rms the good level of interest 

amongst new customers in our products and services. 

Our sales surpassed EUR 800 million (EUR 809 million) 

as a result of the appropriate management of the orders 

portfolio, in which the foreign markets component 

exceeded the 50% mark for the fi rst time. 

The domestic market market - which is always the major 

reference for Efacec - maintained its usual signifi cant 

share, growing about 22% to EUR 392 million. 

The gradual certifi cation of our units - to provide greater 

guarantee abroad - and invitations for our customers to 

visit our manufacturing facilities - in order to get to know 

5 

us better - are two lines of action aimed at solidifying 

relationships of trust that we want to develop over the 

years. 

We pledge to continue following our pathway of quality 

and constant attention to the needs of our customers, 

foreseeing, when possible, their growing requirements. 

Special attention was given to relations with our 

Suppliers – an important link of our production supply 

chain in terms of quality and deadlines. 

Our acquisitions of the raw materials and services 

reached EUR 628 million. 

An area of Strategic Management of Purchases was 

created at corporate level during the fi nancial year. The 

latter is expected to make a signifi cant contribution to 

Efacec’s competitiveness. This area will develop actions 

throughout the entire Group, working in an integrated 

manner with the different purchasing departments of the 

Business Units and Market Units. 




We will thus proceed, in all domains, with the actions 

designed to constantly strengthen our articulation with 

our suppliers and build real partnerships, as a means of 

better serving our customers. 

I would also like to, as usual, address the people of this 

house. 

I am quite certain that, in this regard, I will not have 

much news for Efacec Employees because they follow 

Group activity very closely. 

2009 was once again a good year. We have a lot to be 

proud of. 

Firstly, the awards and compliments from other 

organisations, particularly in the areas of Sustainable 

Development, Innovation, and Corporate Social 

Responsibility. 

It is also a fact that two of our Business Units (Transformers 

and Renewables) have obtained certifi cation for their 

systems of quality, environment and safety management, 

which are areas in which the growing importance that 

has been assigned is rather evident. At the start of 2010, 

the certifi cation process in these areas of all our business 

units was completed. 

The Colombo Ideas Awards are also a sign of the in-house 

vitality, contributing toward the continuous improvement 

Visit V t to t o the t tthe 

he new Power Trans Transformer ans ns nsfor for former pl ppl plant ant nt - Effi Effingham ngham ha ham ha , U UUSA 

USA 

6 

of our activities. 

But one fact that nobody in-house will certainly be 

indifferent to is the new power transformer plant project 

in the United States of America. 

It is Efacec technology that will be present in that country 

and it is the training received in Arroteia that will enable 

our new colleagues to develop new products. 

And these are factors that we ought to be greatly proud 

of. 

We cannot forget that during this very diffi cult year at 

national and international level, the stability and rapid 

growth of our Group was remarkable. 

And we will continue to be a good place to work in, 

wherever this "place” might be in the vast “Efacec world”. 

As I mentioned earlier, we started 2010 with the world 

still slowly recovering from the entrenched crisis assailing 

us and we must remain particularly attentive. 

We will act with utmost caution and try to be very aware 

of the risks, no matter the nature, which may affect our 

activities. 

Our wish is to be well prepared to face them. 

Nevertheless, it was with great determination that the

Managers’ Meeting - Monte da Ravasqueira; Portugal 

Group prepared an ambitious business plan for 2010. 

We want to continue to grow and increase value creation. 

We forecast a strong increase in sales, moving closer to 

the one billion euro mark and we anticipate that about 

two-thirds of our orders shall come from foreign markets. 

Although this is a desirable trend, our growth abroad will 

not at all affect the attention we will continue to pay to 

the domestic market, since we are fully aware that to 

grow "out there” we will have to be even stronger “at 

home”. 

7 

I will fi nish off with the same words as I said last year. 

2009 was a good year. But the most diffi cult year is 

always the following one. 

Thus, it will be with great determination, but also aware 

of the diffi culties, that we will face 2010 as yet another 

year of growth, innovation and value creation. 

Francisco de la Fuente Sánchez 

Chairman of the Board of Directors 




Despite the economic crisis that continued to assail 

almost all countries in the world during 2009 and by 

keeping a sustained growth, Efacec was able to achieve 

higher levels of performance with the implementation 

of goals and projects deemed quite signifi cant to the 

development of the company. 

There will certainly be different factors, both domestic and 

external, that will jointly contribute toward this success. 

I would thus like to highlight those that I consider to 

be fundamental and relate to the international growth 

strategy adopted in 2007, and which, step by step, we 

have been pursuing with discipline and determination and 

also through the management system and organisation 

and control implemented in the company. 

I similarly emphasize the concern with the different 

aspects of economic, environmental and social 

sustainability, which are deemed to be pivotal to corporate 

decision making and to the management of each of the 

company businesses. I further highlight innovation as 

a fundamental characteristic of the organisation in key 

areas: technology; products and systems; processes, 

and organisational behaviour. 

Lastly and above all, I highlight our people, which 

constitute the element that is truly differentiating in the 

excellence of what we do. 

For a long time, Efacec has incorporated its capacity 

for achievement and the decisive role of innovation as 

integral parts of its expansion strategy, not only in the 

domestic market but also internationally. The importance 

of investment in Research, Development and Innovation 

8 

(RDI) is also evident in the products, systems and 

solutions designed and developed by the company. 

The expansion strategy currently encompasses, in 

particular, the development of the internationalisation 

process of Efacec, with the starting point being the 

identifi Dear Shareholders, cation and choice Customers, of the Suppliers business and areas Employees where the of 

company the Efacec intended Group to operate and the markets which it 

intended to compete in. 

A year has gone by since I addressed you for the fi rst time as 

According to the strategy adopted in 2007, ten 

Chairman of the Board of Directors of Efacec. It is 

independently managed businesses (UN's) were 

identifi ed, grouped into three major sectors in which 

Efacec aimed to become a reference player. In the Energy 

Sector, the businesses of Transformers, Medium and High 

Voltage and Servicing equipment. In the Engineering, 

Environment and Services sector, the businesses of 

Engineering, Automation, Environment, Maintenance 

and Renewables. In the Transport and Logistics sector, 

the businesses of Transport, Logistics and Robotics. 

Moreover, in geographical terms, within the scope of this 

strategy Efacec chose seven regions in the world that would 

be the priority key markets for the internationalisation 

of the company’s business, these regions being: United 

States of America; Latin America (focused on Brazil, 

Argentina and Chile); Iberian Peninsula (Portugal and 

Spain); Maghreb (focused on Algeria, Morocco and 

Tunisia); Southern Africa (focused on Angola, South 

Africa and Mozambique); Central Europe; and India. 

The core objective of Efacec is the replication of the 

ten businesses units mentioned, held in Portugal, in 

the aforementioned regions in the world. It should be

emphasized that in large parts of said regions at least 

half of Efacec’s ten businesses are already replicated. 

It must be emphasized that Efacec does not intend to 

relegate the role and importance of the domestic market 

to a secondary position. Instead, the company intends to 

continue to grow in Portugal and consolidate its position 

in the domestic market, though it does recognise that the 

opportunities for expansion in the international market 

are on a much larger scale. 

The recent evolution of Efacec over the past three years 

confi rms the adequacy of the strategy pursued. 

Efacec currently operates in 65 countries and its activity, 

which is measured by two key indicators - total orders 

and sales fi gures, underwent signifi cant expansion. 

Total orders increased from EUR 433 million at the end 

of 2006 to EUR 1.077 billion at the end of 2008, and 

recording a value of approximately EUR 1.004 billion in 

2009. 

Sales over the period from 2007 to 2009 grew from EUR 

370 million to EUR 606 million in 2008 and EUR 809 

million in 2009. 

Thus, over the three-year period, between mid-2008 and 

2009, the worst fi nancial and economic crisis of the last 

60 years was registered, but Efacec grew from the 350 - 

400 million euro echelon to the EUR 1.000 billion mark, 

more than doubling in size. It should be highlighted that 

at the end of 2009 the export markets accounted for 

57% of orders and 51% of sales. 

Other noteworthy indicators for the 2009 fi nancial year 

9 

include: 

• Gross Margin grew 26% compared to the preceding 

year; 

• Operating profi t (before extraordinary profi t) grew 

104% compared to the 2008; 

• Earnings after Taxes (EAT) registered an increase of 

267% from 2008. 

In 2010, the company's goals continue to be ambitious, 

with orders and sales expected to reach EUR 1.121 billion 

and EUR 1.010 billion respectively, and with foreign 

markets accounting for two-thirds of these values, thus 

making the Efacec Group a reference entity in Portuguese 

exports. 

Moreover, it is also important to note that Efacec created, 

in the last two years alone (2007-2009), around 500 

skilled jobs in Portugal, plus about 450 jobs abroad. 

The company is currently developing many projects 

within the international market. In this regard, I would 

like to highlight the conclusion of the Power Transformers 

Production Unit, in Effi ngham County, Georgia, USA. This 

comprises one of the largest ever industrial investments 

made by a Portuguese company in the U.S.A. The total 




investment will be around USD 180 million and about 250 

jobs will be created in 2010, growing to approximately 

600 jobs in the long-term. 

I must point out in this message the importance that 

I consider the Research & Development and Innovation 

(RDI) component has on Efacec's plan of action. 

As I mentioned, this component has been earmarked as a 

very important factor of competitiveness. In 2009 alone, 

Efacec invested around EUR 14 million in R&D, about 

EUR 6 million of which originated from NSRF incentives. 

The company currently has about 150 staff exclusively 

assigned to Research, Development and Innovation 

activities in various businesses. 

Efacec is a party to several cooperation agreements and 

a member of various business and sector associations, 

besides taking part in several Knowledge Networks and 

Partnerships. 

Efacec is also strongly connected to the Education, 

Science and Technology system. It has established 

partnerships with Schools, Higher Education Institutes 

and the most prestigious Universities at national and 

international level, focusing on the Engineering and 

Management areas. 

In its organisation Efacec created and developed the 

area of Integrated Management of Innovation, Quality 

and Sustainable Development, which has proven to be 

important in achieving the company's goals. 

All this effort by Efacec in the RDI areas has been 

recognised by various entities and several prizes have 

been awarded to Efacec, which I will speak of further on. 

I further highlight, for example, two projects that Efacec 

is involved in and which typify its performance, not only 

because of the highly technical nature but also as a 

demonstration of its current and future concern for the 

sustainability of our planet. 

Electric mobility (known in the abbreviated form of 

MobiE), a new paradigm tied to new models of energy 

and environmental sustainability, is an area that 

combines a number of competencies and merges various 

technological domains, particularly in terms of electrical 

and electronic equipment and systems, information and 

communication systems, product engineering and other 

areas. 

Due to the domestic industry’s mobilisation efforts in this 

area – benefi ting from government institutional support 

and the technical support of EDP Inovação, Efacec and 

other Portuguese companies, INTELI, CEIIA, Critical 

Software and Novabase have taken the initiative to 

establish a reference framework to develop and deploy 

a complete solution for an electric mobility supply and 

10 

support infrastructure that is 100% national. 

The simple fact that an electric vehicle has to be charged 

almost every day, and therefore needs to be plugged in 

to the electricity grid for long or short periods of time, 

depending on whether it is slow or fast charging, involves 

management of the electric network and management 

by the user, so that both may take full advantage of this 

situation. 

Hence, the supply infrastructure can not just simply 

make the electric network available to supply points. It 

requires more sophisticated and intelligent equipment 

that is endowed with communication capabilities, it 

requires sophisticated fast charging equipment capable 

of adapting to different manufacturers and vehicle types. 

It implies that the management of the electricity grid 

accommodates this process and makes best use of the 

vehicles that are connected and requires management 

systems that offer maximum convenience to citizens and 

ensure the normal functioning of the market. 

All these areas come under the natural business activity 

of Efacec. Therefore, we cooperated with other partners 

to develop an entire architecture capable of permitting 

the implementation of a network in Portugal that is 

among the most advanced worldwide, within the period 

defi ned by the government prior to the sale of vehicles in 

our country. We also believe that this system has great 

export potential. 

The second example concerns another technology project 

that Efacec participates in and which, as in the previous 

case, aims to meet the latest energy and environmental 

challenges. 

EDP Distribuição, in its capacity of Network Operator, 

initiated a strategic innovation project in partnership 

with Efacec, INESC Porto, Janz and Edinfor&Lógica CMG 

Company, with the ultimate aim of establishing a new 

intelligent electricity distribution system that is capable 

of responding to the challenges that the sector will face 

in coming decades. 

It is the InovGrid project - the evolution of the Distribution 

Network as a decisive response to the new challenges in 

the electricity sector and which essentially encompass the 

differentiation and modulation of demand, an approach 

focused on consumers, the liberalisation of the markets, 

greater supply security and the upgrade of networks and 

their operation. 

There is also a complementary vision of using the scale 

and scope of the InovGrid Project to boost national

For a long time, Efacec has 

incorporated its capacity for 

achievement and the decisive role 

of innovation as an integral part 

of its expansion strategy, not only 

in the domestic market but also 

internationally, together with the 

importance of investment in Research, 

Development and Innovation (RDI), 

which is also evident in the products, 

systems and solutions designed and 

developed by the company. 

industrial projects, in an area of emerging knowledge 

and where demand is strong. 

Also in relation to InovGrid, I would like to underline 

a project that Efacec developed. It is called SmartGate, 

a pioneering solution for intelligent networks (smart 

grids) and which is a strategic part of the overall solution 

presented by the partners of the InovGrid project. 

SmartGate is an intelligent module based on DSP (Digital 

Signal Processor) technology, which was designed 

to be used at MV/LV Transformer Stations and which 

plays a very important role in the management of the 

electricity system directly serving consumers, namely 

the consumers of the Low Voltage network, with the 

particularity that it can also be used with independent 

micro-producers. 

The Portuguese Environment Agency, in partnership 

with the Department of Foresight and Planning and 

International Affairs, the Directorate General for 

Economic Activities, BCSD Portugal - Business Council 

for Sustainable Development and the GCI Group - 

Integrated Communication Management, created the 

Award for Innovation for Sustainability in Portugal, under 

the European Business Awards for the Environment, 

organised by the European Commission. 

The bi-annual award is intended as recognition of public 

and private companies excelling in their performance 

and/or innovative practices in the fi eld of sustainable 

development. 

11 

Efacec ran for this award with SmartGate in the Product 

category, in November 2009, and it was subsequently 

praised at an awards ceremony that took place in March 

2010. 

Allow me to also highlight other facts that I deem relevant 

in 2009, and which enabled Efacec to considerably 

advance in achieving its strategic goal of growth within 

the international market and consolidation within the 

domestic market: 

• The already mentioned pursuit of the construction of 

Efacec Power Transformers Inc. (PTInc.), Efacec’s new 

power transformer plant located in the U.S.A., which 

was completed in late 2009, and the intensive and 

thorough selection and training process over eight 

months in Portugal of around 60 future employees of 

PTInc., mostly with training in engineering but also 

technical designers and team leaders. 

• The visit in December 2009 by the shareholders of 

Efacec, its Board of Directors and its management team 

to Effi ngham, to carry out the fi rst joint visit to the new 

plant. 

• The continuation of the process necessary to extend 

Efacec’s operations to the markets selected as priority 

markets for the company, particularly as regards the 

future presence of the Renewable Energy business in 

the USA and Transformer business in India. 




• Also in India, the new developments in the logistics 

business, with the acquisition of a majority stake in 

Godrej by Gearl – Logistics, meaning that Efacec now 

holds 51% of the Joint Venture. 

• Also in the international arena, the strengthening 

of Financial Management and Human Resource 

Management strategies, policies and practices in the 

international subsidiaries and support to expatriate 

employees of Efacec, as well as the implementation of 

the BaaN ERP in the India Market Unit. Certifi cations 

were also obtained for the quality management systems 

of Efacec Sistemas in Spain, for the Servicing Unit and 

for the quality management system of Efacec Central 

Europe and Efacec Contracting Central Europe. 

• An area of Strategic Management of Purchases was 

created at the corporate level, with the appointment 

of a CPO (Chief Procurement Offi cer), one of several 

measures taken to strengthen the competitiveness 

of Efacec. This area is responsible for developing 

strategies and processes in this fi eld and develop a 

global framework for action that cuts across the entire 

Efacec Group and operates in an integrated manner 

with the different purchasing departments of Efacec’s 

Business Units and the Market Units, which will report 

by function. 

Strategic Stra trate tegic Planning Me Meeting (March 2010) – Mr. Mr Luís Filipe Pereira 

12 

• Likewise, the essential steps for the creation at the 

corporate level of an area of Strategic Risk Management 

were taken in the second half of 2009, with the 

appointment of a CRO (Chief Risk Offi cer). 

• The completion of the efaINmotion (aimed at managers) 

and efaEvolution (aimed at non-managers) projects, 

both of which are pillars of the Cultural Change project 

initiated in 2008, which basically aims at strengthening 

and accelerating the Efacec process of cultural change, 

based on standards considered relevant to the global 

market. 

• Efacec’s abovementioned participation in the technical 

consortium for electric mobility in Portugal, as a result 

of the mobilisation of Portuguese industry on this issue. 

• Achieving third place in the fi rst edition of the 2009 

Sustainable Development Award, awarded by Heidrick 

& Struggles. Efacec was placed amongst the top fi ve 

companies who were awarded the prize, out of a total 

of 200 organisations in competition. This was the fi rst 

time Efacec participated in the award, obtaining 84.6% 

against a multinational average of 81.2% (the category 

in which Efacec was included). 

• At the 2nd edition of the Innovation Product Awards, 

sponsored by COTEC and Unicer, Efacec received 

an honourable mention for an application submitted

involving a solution developed by the Automation Unit 

- SmartGate. This solution is a LV/MV Transformer 

Station controller and it is one of the many Efacec 

solutions helping to reduce the carbon footprint. 

• The award of the Iberdrola Suppliers Prize 2009, an 

international award, Efacec was awarded a prize in the 

Corporate Social Responsibility category. 

• The High and Medium Voltage Switchgear Business Unit 

obtaining certifi cation in RDI according to NP 4457:200. 

Efacec is the fi rst industrial company to achieve this 

certifi cation in Portugal. 

• The certifi cation of the quality, environment and 

safety management system of the Renewables Unit 

and the certifi cation of the environmental and safety 

management system of the Transformers Unit. 

• Efacec was chosen as the focus company for the 

Business Case Competition 2009 of the Lisbon MBA, 

a joint program of the Economics Faculties of Lisbon’s 

Universidade Nova and the Economic and Business 

Sciences Faculty of the Portuguese Universidade 

Católica in collaboration with the MIT Sloan School of 

Management. 

• The visit to Efacec by EDF – Electricité de France R&D. 

The group from EDF R&D visited the Fanhões substation 

of REN and Quinta do Conde substation of EDP, both 

equipped with automation systems, with integrated 

numerical protection, according to IEC 61850, and 

supplied by Efacec. 

• The Colombo Ideas Awards Ceremony in the fi rst 

quarter of 2009. The existence in Efacec of an ideas 

management methodology like that of Colombo 

converges with the most innovative creations currently 

existing in the world. 

• Efacec celebrated its sixtieth anniversary in 2008. In 

order to mark a very important date in the life of the 

company, Efacec took the necessary steps to publish, 

at the beginning of 2009, a book that shows its 

development and which speaks of the fundamental key 

points of its 60 years of existence. 

The achievements described above and the results 

obtained, encourage us to pursue the path that we have 

defi ned and which we have been following. 

The strategy of Efacec, as indicated, developed on a global 

scale and in highly competitive environments, where the 

management of quality and of its human resources and 

the competitiveness of the company’s products, services 

and systems are critical factors for its success. 

13 

Prime-Minis ister of Portugal José Sócrates and 

Mr. Luís Filipe Pereira 

Against this backdrop, Efacec will continue to pursue 

excellence as a decisive component of its competitiveness 

in Portugal and abroad. 

Luís Filipe Pereira 

Chief Executive Offi cer 




15 




Statutory Entities 

GENERAL SHAREHOLDERS’ MEETING 

Mr. Miguel Côrte-Real Chairman 

Mr. Pedro da Costa Mendes Secretary 

THE BOARD OF DIRECTORS 

Mr. Francisco de la Fuente Sánchez Chairman 

Mr. Luís Filipe da Conceição Pereira Vice-Chairman 

Mr. Alberto Joaquim Milheiro Barbosa Member of the Board 

Mr. Alberto de Freitas Martins Member of the Board 

Mr. Artur Fuchs Member of the Board 

Ms. Maria do Rosário Mayoral Robles Machado Simões Ventura Member of the Board 

Prof. António do Pranto Nogueira Leite Member of the Board 

Prof. Daniel Bessa Fernandes Coelho Member of the Board 

Prof. João Afonso Ramalho Sopas Pereira Bento Member of the Board 

Mr. José Manuel Gonçalves de Morais Cabral Member of the Board 

Mr. Luís Miguel Nogueira Freire Cortes Martins Member of the Board 

EXECUTIVE COMMITTEE 

Mr. Luís Filipe da Conceição Pereira Chairman 

Mr. Alberto Joaquim Milheiro Barbosa Member of the Board 

Mr. Alberto de Freitas Martins Member of the Board 

Mr. Artur Fuchs Member of the Board 

Ms. Maria do Rosário Mayoral Robles Machado Simões Ventura Member of the Board 

COMPANY SECRETARY 

Ms. Joana Martins Mendes Permanent 

Ms. Elisa Oliveira Substitute 

STATUTORY AUDIT BOARD 

Prof. Mr. Luís Francisco Valente de Oliveira Chairman 

Ms. Maria Leonor Aires Member of the Board 

Mr. Luís Black Freire de Andrade Member of the Board 

Mr. Diogo Salema da Costa Substitute 

STATUTORY AUDITOR 

Price Waterhouse Coopers & Associados, Sociedade e Revisores 

Oficiais de Contas, Lda., represented by: 

Mr. António Joaquim Brochado Correia, or Permanent 

Mr. José Pereira Alves 

Mr. Hermínio António Paulos Afonso Substitute 

REMUNERATION COMMITTEE 

Mr. Fernando Manuel Ferreira da Costa Gonçalves Chairman 

Mr. António Burnay Teixeira Member of the Board 

Mr. Luís Filipe Soares Wissman Member of the Board 

16

Company Structure 

17 




Governance Model 

The Company, despite having ceased to be listed on the Portuguese Stock Exchange since 21 February 2006, chose 

to continue to respect the essential set of rules imposed by Portuguese Securities’ Commission (CMVM) in respect 

of Corporate Governance, given the need for accuracy and transparency of the structure, organisation, control and 

management of companies in the more demanding international markets. 

Therefore, detailed below is key information regarding the structure and corporate governance practices of Efacec 

Capital, S.G.P.S., S.A., which seek to converge with the recommendations of the Portuguese Securities’ Commission 

(CMVM), particularly those of 2010. 

On balance, the Company complies fully or partially with most of the CMVM recommendations, although some 

regulations do not apply to it because it is not listed on a stock exchange. 

This Report will also include other information which complements that which has already been mentioned. 

Composition and Organisation of the 

Statutory Entities 

The company bodies, following the adoption 

of the classic corporate governance model 

in 2008, are the General Shareholders’ 

Meeting, the Board of Directors, which 

elects an Executive Committee and the 

Company Secretary, the Audit Board and 

the Statutory Auditor. 

The members of the statutory entities are 

elected for periods of three years, and can 

be re-elected for one or more terms. 

The current mandate is from 2008 to 2010. 

18

General Shareholder’s Meeting 

The Chairman of the Board of the General Shareholders’ Meeting shall have the necessary human and logistical 

resources at his/her disposal. This effectively consist of the support of the legal and administrative services to 

prepare each General Shareholders’ Meeting, including all the associated logistics 

The General Shareholders’ Meeting is made up of Shareholders, who, fi ve days prior to the designated date of the 

meeting, can prove that they are owners of at least one hundred shares, registered, and deposited in their name, in 

accordance with Portuguese legislation. Pursuant to article 20(5) of the articles of association, the period in advance 

for the blocking of shares is fi ve business days when the meeting is suspended. 

Each share corresponds to one vote. 

The General Shareholders’ Meeting decisions are taken by a majority vote of those Shareholders present or 

represented, except in cases when the law or the articles of association demand a greater number of votes. 

As a result of the takeover bid concluded in 2006, the Company was informed of a shareholder’s agreement between 

the shareholders participating in that bid, who were already the Company’s majority shareholders. In that agreement 

they committed to coordinate the exercise of their voting rights in the Company with regard to certain key issues. 

Composition of the General Shareholders' Meeting 

The General Shareholders' Meeting is made up of a Chairman and a Secretary: 

Miguel Côrte-Real - Chairman 

Pedro da Costa Mendes - Secretary 

There was one ordinary General Meeting in 2009, at which the entirety of the share capital of the Company was 

represented. 

The remuneration of the Chairman of the Board of the General Shareholders’ Meeting during 2009 amounted to 

EUR 2,500. 

The Company’s Dividend Distribution Policy 

The Board of Directors of EFACEC Capital, S.G.P.S., S.A. has always viewed the dividend distribution as a continuous 

and progressive incentive to investment in the group and its competencies. 

Thus, dividend distribution proposals were submitted for approval to previous Annual General Shareholders’ Meetings 

in the light of the following criteria: 

i) Future internal capacity to generate cash fl ow; 

ii) the investment outlook and fi nancing needs; 

iii) the stability and growth of the payout ratio. 

In accordance with the Company Articles of Association, the net profi ts for the year will be distributed in the following 

way: 

i) at least 5% to the legal reserve while it has not been completed or whenever it needs to be reincorporated; 

and 

ii) the remainder in whatever way is decided by a simple majority vote of the shareholders at the Annual 

General Meeting. 

The total dividends distributed by the Company for the 2008 fi nancial year amounted to EUR 17,750,000, with EUR 

6,034,000 paid out in the second-half of 2008 as interim dividends. 

EUR 7,284,000 was paid out in the second-half of 2009 as interim dividends for the 2009 fi nancial year. 

19 




Mr. Nogu ogueir eira Leite | Ms. Maria do o Rosário 

Ve VVentu n ra | |M | MMr. 

M r. r Mor Mo M ais Cabral | Mr. Artu rtu rt r FFuch 

uchs s | Mr Mr. . LLuís 

Filipe Pereira 

Mr. Fran ra cis cisco c Sán á chez | Mr. Mr Albe berto Martins n | MMr. 

M 

r. Al Alb A erto Barbosa | Mr. Mr Danie niel l BBessa 

| Mr. Luís Corte rtes s MMart 

artins ins | Mr. Mr JJoão 

ão Ben Bento to 

(left to right) 

Board of Directors 

The Board of Directors evaluated the adopted governance model and the Company did not detect any restrictions 

that might affect its performance. 

The Articles of Association give wide powers to the Board of Directors without other limitations and reservations 

except those imposed by law, for the overall guidance of the company’s business. 

The Board of Directors has a governing set of regulations, approved in 2006, and in which the composition, 

competences and functioning of the Board of Directors, the competences of its Chairman and Vice-Chairman, the 

composition of the Executive Committee and the powers delegated to it, the possibility of setting up other specialist 

committees and the responsibilities of directors are defi ned. 

The General Meeting appoints one of their members as Chairman and one or two Vice-Chairman. 

The Board of Directors normally meets once a month, and extraordinarily whenever a meeting is called. 

Each Board Director may, by letter addressed to the Chairman, vote in writing or delegate powers to another Director 

to represent him/her at a Board of Directors meeting in order to take decisions and cast votes on his/her behalf. 

The decisions of the Board of Directors are written up in the minutes, which are signed by all those directors 

attending. Decisions are taken by at least a majority vote of those present or represented at the meeting. 

20

The Composition of the Board of Directors 

The Company’s Board of Directors has eleven members elected at the General Shareholders’ Meeting, fi ve of whom 

are executive directors and six are non-executive directors: 

Francisco de la Fuente Sánchez - Chairman 

Luís Filipe da Conceição Pereira - Vice-Chairman 

Alberto Joaquim Milheira Barbosa - Member of the Board 

Alberto de Freitas Martins - Member of the Board 

Artur Fuchs - Member of the Board 

Maria do Rosário Mayoral Robles Machado Simões Ventura - Member of the Board 

António do Pranto Nogueira Leite - Member of the Board 

Daniel Bessa Fernandes Coelho - Member of the Board 

João Afonso Ramalho Sopas Pereira Bento - Member of the Board 

José Manuel Gonçalves de Morais Cabral - Member of the Board 

Luís Miguel Nogueira Freire Cortes Martins - Member of the Board 

The majority of the members of the Board of Directors are non-executive, thus guaranteeing their effective capacity 

to oversee, supervise and evaluate the work of the executive members. The non-executive directors did not detect 

any restrictions to the performance of their roles. The process of selecting non-executive directors is exclusively 

designed and made by the shareholders, without the knowledge or interference of the executive directors. 

The Board of Directors has four independent non-executive directors, out of a total of eleven directors currently 

constituting the Board. 

The Board of Directors held eleven meetings in 2009. 

The remunerations of the members of the Board of Directors in 2009 totalled EUR 3,210,757.89 in the 2009 fi nancial 

year, EUR 1,283,000.00 of which was relative to variable remuneration. The remuneration of the non-executive 

directors of the Board of Directors solely comprises a fi xed component. 

21 




Ms Ms. .Mari Mari 

aria a d ddo 

o R osá os rio r Ve Ventu ntura | Mr. Mr M Artur 

Fu Fuch chs | Mr. M LLuís 

Fil Filipe ipe Pe Pere rei reira ra | M MMr. 

r. Alb Alberto Mar artins | | Mr. M Al Albe be ber berto to Barbosa 

(left (l ( eft to ri righ right) ght ght) 

Executive Committee 

Pursuant to the Company’s Articles of Association, the Board of Directors can delegate current management of the 

company in an Executive Committee made up of a number of members which is less than half the number of the 

members of the Board of Directors, or it can delegate the current management in one or more directors. 

The Executive Committee is governed by Regulations which were approved by the Board of Directors in 2006. Those 

regulations defi ne the composition, competences and functioning of the Executive Committee, the competences 

of the respective Chairman, the information to be provided to the Board of Directors and the established rules for 

decision making and legally binding the Company, the assignment of roles and the establishment of the limits of 

executive duties. 

The Board of Directors has delegated powers to members for the Executive Committee of current management and 

administration of all Company and Group businesses, specifi cally in respect of the limits of power granted, exercising 

and promoting the exercising of the Company’s rights in companies in which it has shareholdings, the supervision of 

their activities and issuing binding instructions for their respective statutory entities and members. 

Responsibilities and Portfolios of the Executive Committee 

The described responsibilities encompass all Efacec Group affi liate companies. 

Luís Filipe da Conceição Pereira (CEO) 

Responsible for the areas of Strategic Planning and Management Control, Acquisitions and Mergers and the Strategic 

Management of Human Resources and Communication. As Chairman of the Executive Committee he is also responsible 

for supervising the management of all areas of activity of the Group, and participating in the fi nal decision on 

important matters in each one. 

Alberto Joaquim Milheira Barbosa (Director) 

Responsible for the supervision and commercial co-ordination of the Group in the domestic market as well as the 

direct leadership and supervision of the Automation, Engineering, Maintenance and Renewables Business Units and 

the Spain Region Market Unit. 

Alberto de Freitas Martins (Director) 

Responsible for the direct leadership and supervision of the Environment, Robotics and Transports Business Units and 

the Market Units for the U.S.A Region, Latin America Region, Maghreb Region and Southern Africa Region, as well as 

the implementation of the Efacec international marketing strategy and the current management of all subsidiaries, 

branch offi ces, agents and representation offi ces located outside 

22 

the areas defi ned as Efacec markets.

The Board of Directors took the decision not to delegate powers concerning the areas listed below, in addition to 

those that cannot be legally delegated, so that the Executive Committee must submit such matters to the Board of 

Directors for approval: 

a) the risk strategy and policy of the Company and the Efacec Group; 

b) the approval of the Consolidated Strategic Development Plan; 

c) the approval of the annual and multi-annual plans and budgets, particularly the Efacec Group’s Consolidated 

Annual Budget and the periodic follow up of its execution; 

d) the co-opting of Board Directors; 

e) the request for the calling of General Shareholders’ Meetings; 

f) the approval of the annual report and accounts to submit to the General Shareholders’ Meeting; 

g) the approval of the half yearly and quarterly accounts; 

h) the change of headquarters, under the terms laid down in the Company’s Articles of Association; 

i) the approval of projects with respect to mergers, demergers and transformation; 

j) the approval of signifi cant alliances and strategic partnerships in which the Group is involved, or changes 

to key conditions of their terms; 

k) the approval of important changes to the Group’s organisational model; 

l) the approval of the global remunerations policy and benefi ts for Group employees; 

m) the acquisition and disposal of shares in other companies and subscription to equity holdings; 

n) providing personal or company pledges and guarantees by the Company. 

The Board of Directors has limited the delegation of powers for the carrying out of certain acts within defi ned values, 

in the following areas: 

o) approval of investments: fi fteen million Euros; 

p) approval of fi nancing operations: ten million Euros; 

q) approval of commercial contracts relating to the current business year: twenty fi ve million Euros; 

r) approval of the acquisition, disposal, exchange or pledging of immovable property or respective rights: 

three million Euros; 

s) approval of the granting of personal or company pledges and guarantees by other companies of the Group: 

three million Euros; 

t) acts relating to articles o) p) and r) not included in the budget: one million Euros. 

Artur Fuchs (Director) 

Responsible for the direct leadership and supervision of the Transformers, Energy Servicing and Switchgear Business 

Units and the Market Units of the Central Europe Region and India Region, as well as Industrial Operations in the 

Energy area (in Portugal and external markets) and the Supply Chain (raw materials and components) of the Efacec 

Group. 

Maria do Rosário Mayoral Robles Machado Simões Ventura (Director and CFO) 

Responsible for the direct leadership and supervision of the Group’s Shared Services (at the corporate level and 

in relation to the functional responsibility of the Market Units), including the areas of Administration and Finance, 

Risk Management, Legal Matters, Centralised Purchasing and General Services, Financing, Taxation, Insurance and 

Support Programmes, Information Technology, Operational Human Resources Management and Innovation, Quality 

and Sustainability. 

The Board of Directors also gave powers to members of the Executive Committee to bind the Company in the course 

of executing, and as part of the delegation of, the management powers granted. 

23 




As a general rule, the Executive Committee meets once a week. The Executive Committee’s deliberations are written 

up in the minutes, and copies of the documentation are then included in the agenda for the next Board of Directors 

meeting. The executive members also provide to the non-executive directors all the information they require to 

perform their duties, either on their own initiative or when requested to do so. 

The Executive Committee held thirty-two meetings during 2009. 

Composition of the Executive Committee 

The Executive Committee is currently made up of fi ve members, appointed from among the Board of Directors, which 

also appoints the Chairman: 

Luís Filipe da Conceição Pereira - Vice-Chairman (CEO) 

Alberto Joaquim Milheira Barbosa - Member of the Board 

Alberto de Freitas Martins - Member of the Board 

Artur Fuchs - Member of the Board and COO 

Maria do Rosário Mayoral Robles Machado Simões Ventura - Member of the Board and CFO 

Positions held by Board of Directors in other companies: 

Mr. Francisco de la Fuente Sánchez 

Does not hold positions in any company in which Efacec is a shareholder. 

Other positions held: Sonae Capital, S.G.P.S., S.A. - Non-executive director | Fundação Portugal-África - Non-executive director | Proforum – Associação 

para o Desenvolvimento da Engenharia - Chairman of the General Board | Instituto Superior Técnico – Guest Member of the School Board | Ordem dos 

Engenheiros – Chairman of the Electrical Engineering College 

Mr. Luís Filipe da Conceição Pereira 

Positions held in companies in which Efacec is a shareholder: 

Efacec Energia - Máquinas e Equipamentos Eléctricos, S.A. - Chairman of the Board of Directors | EMPOVAR, S.A - Chairman of the Board of Directors | 

Efacec- Engenharia, S.A. - Chairman of the Board of Directors | Efacec Ambiente, S.A. - Chairman of the Board of Directors | Efacec Serviços de Manutenção 

e Assistência, S.A. - Chairman of the Board of Directors | Brisa - Conservação de Infraestruturas, S.A - Chairman of the Board of Directors | Efacec Sistemas 

de Electrónica, S.A. - Chairman of the Board of Directors | Efacec Automação e Robótica, S.A. - Chairman of the Board of Directors 

| Efacec Marketing Internacional, S.A. - Chairman of the Board of Directors | GEMP- Empreendimentos Imobiliários, S.A. - Chairman of the Board of 

Directors | Efacec Investimentos e Concessões, SGPS, S.A. - Chairman of the Board of Directors | C&S Efacec MV INDIA PVT LTD - Director | Efacec C&S 

AMT PVT LTD - Director 

Other positions held: Efacec Sistemas de Gestão, S.A. - Chairman of the Board of Directors 

Mr. Alberto Joaquim Milheiro Barbosa 


Efacec Energia - Máquinas e Equipamentos Eléctricos, S.A. - Member of the Board of Directors | EMPOVAR, S.A - Member of the Board of Directors 

- Efacec- Engenharia, S.A. - Member of the Board of Directors - Efacec Ambiente, S.A. - Member of the Board of Directors - Efacec Serviços de Manutenção 

e Assistência, S.A. - Member of the Board of Directors | ATM – Assistência Total em Manutenção, S.A. - Chairman of the Board of Directors| Brisa - 

Conservação de Infraestruturas, S.A. - Member of the Board of Directors | Efacec Sistemas de Electrónica, S.A. - Member of the Board of Directors | 

Efacec Automação e Robótica, S.A. - Member of the Board of Directors | Efacec – Marketing Internacional, S.A. - Member of the Board of Directors | GEMP- 

Empreendimentos Imobiliários, S.A. – Member of the Board of Directors | Efacec Investimentos e Concessões, SGPS, S.A.- Member of the Board of Directors 

| S2M – Sociedade de Manutenção de Metropolitanos, S.A. - Member of the Board of Directors | Efacec do Brasil, Ltda. - Advisor | Efacec Contracting Central 

Europe - Director | Efacec Moçambique, Lda - Manager | Efacec Angola, Ltda. - Manager 

Other positions held: Efacec Sistemas de Gestão, S.A. - Member of the Board of Directors 

Mr. Alberto de Freitas Martins 



| Efacec- Engenharia, S.A. - Member of the Board of Directors | Efacec Ambiente, S.A. - Member of the Board of Directors | Efacec Sistemas de Electrónica, 

S.A. - Member of the Board of Directors | Efacec Automação e Robótica, S.A. - Member of the Board of Directors | Efacec Marketing Internacional, S.A. - 

Member of the Board of Directors | GEMP- Empreendimentos Imobiliários, S.A. – Member of the Board of Directors | S2M – Sociedade de Manutenção de 

Metropolitanos, S.A. - Member of the Board of Directors | Efacec do Brasil, Ltda. - Advisor | BAUEN Efacec, S.A. – Vice-Chairman | Efacec Moçambique, 

Lda- Manager | Efacec Malaysia Sdn. Bhd. - Member of the Board 

Other positions held: Efacec Sistemas de Gestão, S.A. - Member of the Board of Directors | HLAMJ – Imobiliária, Lda - Manager 

Mr. Artur Fuchs 



| Efacec- Engenharia, S.A. - Member of the Board of Directors | Efacec Ambiente, S.A. - Member of the Board of Directors | Efacec Sistemas de Electrónica, 

S.A. - Member of the Board of Directors | Efacec Automação e Robótica, S.A. - Member of the Board of Directors | Efacec – Marketing Internacional, S.A. - 

Member of the Board of Directors | GEMP- Empreendimentos Imobiliários, S.A. – Member of the Board of Directors | Efacec Praha S.R.O. – Executive Director 

| Efacec Central Europe, Ltd - Director | Efacec Contracting Central Europe - Director | Efacec C&S AMT PVT LTD - Director | Efacec Angola, Ltda.- Manager 

Other positions held: Efacec Sistemas de Gestão, S.A. - Member of the Board of Directors 

24

Ms. Maria do Rosário Mayoral Robles Machado Simões Ventura 


Efacec Energia - Máquinas e Equipamentos Eléctricos, S.A. - Member of the Board of Directors | EMPOVAR, S.A - Member of the Board of Directors | 

Efacec- Engenharia, S.A. - Member of the Board of Directors | Efacec Ambiente, S.A. - Member of the Board of Directors | Efacec Serviços de Manutenção e 

Assistência, S.A. - Member of the Board of Directors | Brisa - Conservação de Infraestruturas, S.A. - Chairman of the Board of Directors | Efacec Sistemas 

de Electrónica, S.A. - Member of the Board of Directors | Efacec Automação e Robótica, S.A. - Member of the Board of Directors | Efacec – Marketing 

Internacional, S.A. - Member of the Board of Directors | Efacec International Financing, S.G.P.S., S.A. - Chairman of the Board of Directors, representing 

Efacec Capital, S.G.P.S., S.A. | GEMP- Empreendimentos Imobiliários, S.A. – Member of the Board of Directors | ATM – Assistência Total em Manutenção, 

S.A. - Member of the Board of Directors 

Other positions held:Efacec Sistemas de Gestão, S.A. - Member of the Board of Directors 

Mr. António do Pranto Nogueira Leite 


Other positions held: BRISA Auto - Estradas de Portugal, S.A. - Member of the Board of Directors | CUF – Companhia União Fabril, SGPS, S.A. - 

Member of the Board of Directors (2009-2012) | CUF-Quimicos Industriais, SA - Member of the Board of Directors (2007-2010) |JOSE DE MELLO SAUDE 

– Sociedade Gestora de Participações Sociais, S.A. - Member of the Board of Directors (2007-2009) | SEC-Sociedade de Explosivos Civis, SA - Not stated 

in mandate (2008-2010) | Efacec Capital, SGPS, SA - Member of the Board of Directors (2008-2010) | COMITUR – Sociedade Gestora de Participações 

Sociais, S.A. - Member of the Board of Directors (2006-2009) | COMITUR IMOBILIÁRIA, SA - Member of the Board of Directors (2006-2009) | EXPOCOMITUR 

-Promoção e Gestão Imobiliária, SA - Liquidated | HERDADE DO VALE DA FONTE - Sociedade Agrícola, Turística e Imobiliária, SA - Member of the Board of 

Directors (2007-2010) | SOCIEDADE IMOBILIÁRIA E TURISTICA DO COJO, SA - Member of the Board of Directors (2006-2009) | SOCIEDADE IMOBILIARIA 

DA RUA DAS FLORES, n.º 59, SA - Liquidated | REDITUS, SGPS, SA - Member of the Board of Directors | BANIF INVESTMENT, SA - Vice-Chairman of 

the Advisory Board | INSTITUTO DE GESTAO DO CREDITO PÚBLICO - Member of Advisory Board | OPEX, SGSNM, S.A - Chairman of Board of Directors 

| INSTITUTO PORTUGUÊS DE RELAÇÕES INTERNACIONAIS (UNL) - Member of Management Board | COMUNIDADE PORTUÁRIA DE AVEIRO - Managing 

Director | ASSOCIAÇÃO OCEANO XXI - Managing Director | EDP RENOVÁVEIS, S.A. - Member of the Board of Directors 

Mr. Daniel Bessa Fernandes Coelho 


Other positions held: Director of Finibanco Holding, S.G.P.S., S.A. | Non-Executive Director of AICEP - Agência para o Investimento e Comércio Externo 

de Portugal, E.P.E. | Chairman of the Statutory Audit Board of Galp Energia, S.G.P.S., S.A. Chairman of the Statutory Audit Board of Sonae, S.G.P.S., S.A. 

| Chairman of the Statutory Audit Board of Bial - Portela e Companhia, S.A. 

Mr. João Afonso Ramalho Sopas Pereira Bento 


Other positions held: Brisa Auto-estradas de Portugal, S.A. - Member of the Board of Directors | Brisa Internacional, SGPS, S.A. - Chairman of the Board 

of Directors | BRISAL Auto-Estradas do Litoral, S.A. - Chairman of the Board of Directors | Auto-Estradas do Baixo Tejo, S.A. - Chairman of the Board 

of Directors | Via Oeste, SGPS, S.A. - Chairman of the Board of Directors | Elos Ligações de Alta Velocidade, S.A. - Chairman of the Board of Directors | 

BRISA Participações e Empreendimentos Ltda. (Brazil) - Chairman of the Advisory Board | APCAP- Associação Portuguesa das Sociedades Concessionárias 

de Auto-Estradas ou Pontes com Portagens. - Chairman of the Board of Directors | Brisa Serviços Viários, SGPS, S.A. - Member of the Board of Directors | 

AEDL – Auto-Estradas do Douro Litoral, S.A. - Member of the Board of Directors | BRISA United States, LLC (EUA) - Member of the Board of Directors | BRISA 

North America, Inc (EUA) - Member of the Board of Directors | CCR – Companhia de Concessões Rodoviárias (Brazil) - Member of the Board of Directors 

| ASTERION, A.C.E. - Member of the General Board | Efacec Capital, SGPS, S.A. - Member of the board of Directors | TECNOHOLDING II – Investimentos 

Tecnológicos SA - Member of the Board of Directors | BRISA Participações I, SGPS, S.A. - Member of the Board of Directors | BRISA Participações II, SGPS, 

S.A. - Member of the Board of Directors | BRISA Participações III, SGPS, S.A. - Member of the Board of Directors | International Bridge, Tunnel and Turnpike 

Association (USA) - Member of the Board of Directors | Fundação Luso-Brasileira - Member of the Board of Trustees and Member of the Board of Directors 

| InIR, Instituto Regulador do Sector Rodoviário - Member of the Advisory Board 

Mr. José Manuel Gonçalves de Morais Cabral 


Other positions held: CUF, SGPS, SA - Board Director | CUF, SGPS, SA - Board Director; José de Mello Energia, SGPS, SA – Board Director; José de Mello 

Imobiliária, SGPS, SA – Board Director; Escala Braga - Sociedade Gestora do Estabelecimento, SA - Board Director; Soponata - Soc Portuguesa de Navios 

Tanques, SA - Chairman of the Board of Directors; AICEP Global Parques - Board Director 

Mr. Luís Miguel Nogueira Freire Cortes Martins 


Other positions held: Chamartín Imobiliária, SGPS, S.A. – Member of the Board of Directors | Chamartín – Sociedade de Investimentos Imobiliários, S.A. 

– Member of the Board of Directors | Gestespada, SGPS, S.A. - Member of the Board of Directors| Partac, SGPS, S.A. - Member of the board of Directors | 

Partmelo, SGPS, S.A. - Member of the Board of Directors | The Swatch Group (Europa) Sociedade Unipessoal, S.A. - Member of the Board of Directors | The 

Swatch Group (Europa II) Retail, Sociedade Unipessoal, S.A. - Member of the Board of Directors | Serra Lopes, Cortes Martins & Associados – Sociedade de 

Advogados, RL - Board Director | Açormédia – Comunicação Multimédia e Edição Publicações, S.A. - Chairman of the General Meeting | APCAP - Associação 

Portuguesa das Sociedade Concessionárias de Auto-Estradas ou Pontes com Portagens - Chairman of the General Meeting | Controlinveste Media, SGPS, 

S.A. - Chairman of the General Meeting | Gesprosint – Consultoria e Gestão de Investimentos e Projectos, S.A. - Chairman of the General Shareholders' 

Meeting | Global Notícias, Publicações, S.A. - Chairman of the General Shareholders' Meeting | Horta das Laranjeiras – Sociedade Agrícola, S.A. - Chairman 

of the General Shareholders' Meeting | Lisnave Estaleiros Navais, S.A. - Chairman of the General Shareholders' Meeting | Lisnave Infraestruturas Navais, 

S.A. - Chairman of the General Shareholders' Meeting | Naveprinter – Indústria Gráfi ca do Norte, S.A. - Chairman of the General Shareholders' Meeting | 

Partac – Imobiliária, S.A. - Chairman of the General Shareholders' Meeting | Plazainveste – Promoção e Investimentos Imobiliários, S.A. - Chairman of the 

General Shareholders' Meeting | Rádio Notícias – Produções e Publicidade, S.A. - Chairman of the General Shareholders' Meeting| BRISA Auto-Estradas de 

Portugal, S.A. - Member of the Remuneration Committee | Glintt, Global Intelligent Technologies, SGPS, S.A. – Chairman of the Remuneration Committee 

25 




Company Secretary 

The Company Secretary is responsible for, in particular: 

a) preparing and drawing up the documents to be submitted to the Board of Directors or the General Shareholders’ 

Meeting; 

b) drawing up the minutes of the meetings of the governing bodies and sign them together with the relevant 

governing body; 

c) safeguard and keep in order the registers of minutes and attendance lists of the Company; 

d) certify the signatures and powers of members of the governing bodies, as well as copies or transcripts 

extracted from the books of the Company or the statutes that are in force; 

e) provide information to shareholders exercising their right to information and to members of the governing 

bodies performing supervisory functions; 

f) ensure the registration of the company acts requiring such. 

Composition 

Maria Joana Machado Lima de Martins Mendes de Amorim – Company Secretary; 

Maria Elisa Loureiro Moreira Pereira de Oliveira – Substitute Company Secretary. 

The Company Secretary attended and performed the secretarial duties at all the Board of Directors’ meetings in 

2009. 

Statutory Audit Board 

The main functions of the Statutory Audit Board are to carry out the audit and supervision of the management 

and activities of the Company and to ensure compliance with the law and the Company Articles of Association. The 

members of the Statutory Audit Board have not found any restrictions on the performance of their roles. 

The Regulations of the Statutory Audit Board, which defi ne their competences and the board’s functioning, were 

approved. 

The Statutory Audit Board consists of three permanent members and a back-up, elected at the General Shareholders’ 

Meeting. 

Composition of the Statutory Audit Board 

Luís Francisco Valente de Oliveira – Chairman 

Maria Leonor Aires - Member of the Board 

Luís Black Freire de Andrade - Member of the Board 

The Statutory Audit Board met six times in 2009. 

The remuneration of members of the Statutory Audit Board in 2009 totalled EUR 47,000. 

All members of the Statutory Audit Board are independent. 

Statutory Auditor 

The role of the Statutory Auditor is to audit Company accounts and all fi nancial documents and issue the legal 

certifi cation of the accounts and an audit report. 

Composition 

The Company Statutory Auditor is PriceWaterhouseCoopers and Associates, S.R.O.C., Lda. (PWC), represented by 

António Joaquim Brochado Correia or José Pereira Alves, and the Backup Statutory Auditor is Hermínio António 

Paulos Afonso. 

All consultancy services were provided by employees of PWC who were not involved in any of the audit work 

undertaken in the various companies of the Efacec Group. 

26

Aerial Aeri eri e ial al a View Vie View wo w oof 

ft f the he h Arr Ar Arr AArrote Arroteia rr r ote teia ia Industrial Ind Indust nd ust us ust us ria ri r lZ l Zon Zone on one on one on - Por Portug Portugal tug ug ugal al a 

Remuneration Committee 

The function of the remuneration committee is to approve the remuneration and other compensation of members of 

the Board of Directors and other statutory entities of the company. 

Composition of the Remuneration Committee 

The remuneration committee consists of three members elected at the General Shareholders’ Meeting: 

Fernando Manuel Ferreira da Costa Gonçalves - Chairman 

António Burnay Teixeira 

Luís Filipe Soares Wissman 

The majority of the members of the Wages Committee are all independent and do not hold any position in any other 

governing body of the Efacec Group. 

The Remuneration Committee held two meetings in 2009, with all members being present. 

The Wages Committee is usually represented at the General Shareholders’ Meeting. 

27 




Internal Risk Control System 

The Company has an internal risk control system that is based on monitoring the risk management at all levels by 

the Board of Directors and, to a wider extent, the companies that make up the Efacec Group. 

This policy and rigorous approach are implemented in a strict fashion in the Group, and all top and middle managerial 

staff act in a way that is conducive to the timely and detailed analysis of potential situations that generate business, 

fi nancial, legal, environmental or other specifi c risks, inherent to the company, its activities or the country, and which 

include, among other actions, sending all documents with legal signifi cance to the Legal Department of the Group. 

Besides this transversal monitoring across the entire Group, the area of Risk Management was created in 2009 to 

ensure integrated monitoring of risk management. A Chief Risk Offi cer (CRO) was appointed, who reports directly 

to the Chairman of Executive Committee and is supported by Specialists in Operational Risk and one Risk Analyst. 

The aim of this team is to maximize the trade-off between the business risks and margins in order to achieve the 

Group's growth goals. The team’s mission is to develop the tools and processes needed to monitor risks in order to 

prevent their occurrence or mitigate their consequences and, in addition, to advise the Board of Directors on this 

matter. 

The main responsibilities of the Risk Management Area are, thus: have an integrated view of all the company’s risks, 

both operational and fi nancial, and defi ne risk policies and guidelines and identify, together with the project teams, 

the main risks in signifi cant projects, proposing approaches for those risks not to materialise. 

Presentation P 

of the th the 2009 Sustainable Development Award 

28

Organisation of the Efacec Group 

The Efacec Group has an organisation based on 

complementary business areas, but with specifi c 

management follow-up. All companies report functionally 

and hierarchically to their Business Area and to the 

respective Executive Director appointed for this purpose. 

Strategic global positioning, coordination and 

communication are ensured by the holding company 

of the Group. Common and cross-group services are 

functionally organised in the corporate duties and Shared 

Services of the Efacec Group. 

The Efacec Group organises its activity into three Business 

Areas - Energy Solutions (SEN), Logistics and transport 

Solutions (STL) and Engineering and Services Solutions 

(ESS) -, an area focused on the domestic market and 

another focused on the international market and also a 

comprehensive support area. 

29 

Efacec Ef Image I 

According to the growth strategy established by the Group, the adopted organisational model is based on a matrix 

structure composed of ten Business Units (BU's) responsible for the overall development of each business of the 

Group, and seven Market Units (MU's) with regional structures in the "Efacec Markets", responsible for cross-portfolio 

development in those geographical areas. A specifi c relations model was developed to ensure the best possible 

cooperation between the BU's and MU’s, without losing the competitiveness traits required of each BU and MU and by 

the prevailing market conditions. This model sets out the main procedures and the application of the best practices 

that allow it to be adjusted, in order to add effi ciency and minimize the risks and contingencies of the business, thus 

enabling the development of the local competences and capacities which are a driver of the International growth of 

the Group and the consolidation of its operations in these external markets. 

There is still another area of the international market - Rest of the World (ROW) - which is tasked with identifying 

opportunities and coordinating commercial resources shared by the businesses outside of the established "Efacec 

Markets”. 

The organisation of each of these BU’s and MU’s is the one which best responds to the model considered, in each case, 

in compliance with their characteristics and specifi c business conditions, seeking to maintain a balanced approach 

to common requirements and priorities to create the required synergies to achieve greater added value in the 

management of each of the businesses. Each of these areas has its own management, planning and business control 

structure, and is responsible for its Annual Budget, which is prepared and updated throughout the year. 

The more important strategic decisions for a specifi c area and/or those with consequences for the Efacec Group as a 

whole are decided on or ratifi ed by the Group’s holding company. 

Efacec considers it important to respect and maintain an internal organisational atmosphere, which supports a 

business and company culture and practice that encourages and enables the adoption of good behavioural and 

management practices, ethics and respect for the rules established. 

In addition, the Board of Directors has underpinned its management on careful attention to internal and external 

communication, creating a climate of safety, transparency, loyalty and confi dentiality at all levels of the organisation, 

as well as an awareness of the application of and respect for the obligations resulting from the duties of diligence and 

prevention, and the safeguarding and prevention of the improper use of business opportunities and company assets. 

In this regard, the following specifi c committees were created or remain active from prior years in the Efacec 

Group: Quality, Environment, Health and Safety Management; Hygiene and Safety Joint Committee; Committee 

for Overhead Management; Process Optimization; Purchasing and Supply Management; Strategic Human Resource 

Management Committee. 




31 




33 




35 




37 




In compliance with legal provisions and requirements, 

the Board of Directors of Efacec Capital, S.G.P.S., S.A. 

presents its Management Report, and Consolidated and 

Individual Financial Statements for the year ending 

December 31, 2007. 

Since it is the parent company of a business group that 

includes various companies in Portugal and internationally 

with multiple activities, in addition to presenting the 

most relevant facts for the group, other information 

that we believe important is highlighted, relating to the 

companies or economic units making up the total. 

Efacec Shareholders Mr. Mr Pedro de Mello and Mr. Mr António 

o Gonçalves (left and right) and the CEO of Efacec, Efacec Mr. Mr Luís Filipe Pereira 

Macroeconomic Environment 

Worldwide, 2009 was marked by a sharp economic 

downturn following the fi nancial crisis which began in 

late 2007. According to economic forecasts of the IMF, 

GDP fell by 0.8%. The annual decline in the USA was 

2.4%, while China's economy grew by 8.7%, well short 

of the two-digit growth of the preceding years. 

Nevertheless, the second half of the year, especially the 

last quarter, already began to show signs of economic 

recovery, benefi ting from the strong monetary and fi scal 

38 

As established in European Parliament and Council 

Regulation no. 1606/2002, companies listed on supervised 

stock markets with headquarters in the European Union 

must use International Financial Reporting Standards 

(IFRS) for their consolidated fi nancial statements as 

from 1 January 2005. 

In view of this requirement and the fact that the shares 

of the company were traded up to 21 February 2006, 

Efacec decided to continue presenting its accounts in 

accordance with the standards mentioned above. 

stimuli from governments and monetary authorities 

against a backdrop of general decline of prices and falling 

interest rates. The US Federal Reserve kept the Fed Funds 

rate in a range between 0% and 0.25% in 2009 and the 

ECB lowered its Refi rate by 150 basis points to 1%. 

Recovery was also the watchword in share markets, as the 

sectors that had received the worst beating the previous 

year, in particular the banking industry, corrected the 

sharp devaluations.

Efacec Panel at Portela Airport - Lisbon, Lisbon,Portugal Portugal P 

Following a fi rst quarter of falls, still refl ecting the 

pessimism of 2008, the major fi nancial exchanges began 

rising sharply, which allowed the US stock market indexes 

to end 2009 recording their best performances of the 

previous six years. The NASDAQ grew 43.9%, the S&P 

5000 rose 23.5% and the Dow Jones advanced 23.5%. 

The price of raw materials began a gradual recovery in 

2009, with Brent passing USD 70 per barrel, doubling its 

price from the beginning of the year. 

The return of growth in the second half of the year was 

not refl ected in the labour market, as unemployment 

continued to grow at a slower pace. 

The GDP of the European Union declined 4% in 2009, as 

a result of the strong impact of the global economic crisis. 

Subsequently the unemployment rate rose to 9.6%, 

with Latvia (22.8%) and Spain (19.5%) registering the 

highest rates. 

Portugal's economy declined by 2.7% and it registered a 

heavy budget defi cit of 9.3% of GDP. 

The unemployment rate at the year’s end, according to 

INE, was the highest of recent years, at 10.1%. 

The harmonised CPI fell 0.9% in 2009, after increasing 

2.7% in 2008. The fall in consumer prices in 2009 shall 

be temporary in nature. 

The international fi nancial crisis led to greater diffi culties 

for businesses and private individuals to contract loans as 

well as fi nd credit insurance cover. Business investment 

fell 17.1% in 2009, according to INE. 

39 

Exports decreased by 18.9% between January and 

November 2009 and imports fell 15.6%, excluding fuel. 

In industry, comparing the orders received in the last 

quarter of 2009, with the same quarter of 2008, new 

orders received decreased 14.2%. 

Efacec managed, despite this unfavourable international 

climate, to achieve strong results in 2009, showing its 

competitiveness and the sustainability of its business in 

Portugal and in the World. 

World economies are expected to undergo gradual 

recovery in 2010, albeit slow. According to Report on 

the State Budget for 2010, the Portuguese economy 

is expected to grow 0.7% in 2010. The Government’s 

forecast for 2010 is that investment will continue to fall 

and the unemployment rate will be 9.8%. In terms of 

public fi nances, the budget defi cit is forecast to be 8.3% 

and debt shall remain above 85%. 




Trend of Key Indicators 

Trend of Key Indicators 

2006 

Dec 

40 

2007 

Dec 

IFRS Change 09/08 

2008 

Dec 

restated 

2009 

Dec 

Value % 

Orders Received in the Year M € 432,6 562,8 1.125,1 1.004,2 (120,9) -11 

Portugal M € 258,6 301,4 382,8 432,7 49,9 13 

International Market M € 174,0 261,5 742,3 571,5 (170,8) -23 

Turnover M € 370,4 440,3 642,0 808,9 166,8 26 

Portugal M € 249,8 269,1 321,9 393,1 71,2 22 

International Market M € 120,5 171,2 320,1 415,8 95,7 30 

EBITDA ( Operational Cash Flow ) (a) M € 31,2 34,5 30,9 60,3 29,4 95 

Operating Results M € 21,4 25,4 19,9 40,5 20,6 104 

Operating Results/ Sales % 5,8 5,8 3,1 5,0 

Net Financial Costs M € (3,0) (4,9) (14,9) (7,6) 7,3 -49 

EBT Total (Earnings Before Taxes) M € 21,4 21,7 5,6 33,0 27,4 488 

EAT (Earnings After Taxes) M € 17,1 17,4 7,4 27,1 19,8 267 

Cash Flow (Net Profi t + Deprec. + Prof) M € 26,8 26,4 18,5 47,0 28,6 155 

Shareholders’ Funds M € 82,6 79,5 65,1 111,3 46,2 71 

Net Assets M € 357,6 418,6 680,3 823,8 143,4 21 

Net Financial Liability M € 73,9 106,5 139,3 227,7 88,4 63 

Borrowings 

[Financ. Debt/(Equity+Financ. Debt)] 

% 47,2 57,3 68,2 67,2 

Financial Debt / EBITDA x 2,4 3,1 4,5 3,8 

Average No. Employees 2.492 2.772 3.361 3.867 506 15 

Sales per Employee M € 148,6 158,8 191,1 209,2 18,1 9

41 




Economic and Financial Situation 

For the second consecutive year, the Efacec Group 

achieved total orders surpassing one billion euros in 

value. The business activity of the Group in 2009, despite 

cases of extraordinarily high value orders in 2008, 

allowed the business growth trend to be maintained and 

consolidated, as several contracts of high values and 

qualitatively important were signed. 

Orders in 2009 totalled EUR 1.004 million, 57% of which 

originated from external markets. With this strong 

growth, the Portfolio of Orders at the 31 of December 

2008 was 1098 M€. 

Turnover in 2009 was EUR 809 million, compared to 

EUR 642 million in 2008, which corresponds to an 

overall increase of 26%. Analysis by market shows that 

in Portugal sales increased 22% and growth in foreign 

markets was 30%, which confi rms the trend observed 

in recent years as a result of the internationalisation 

strategy that has been implemented. 

Owing to this growth and improvement in effi ciency 

levels, in EBITDA in 2009 was EUR 60.3 million against 

EUR 30.9 million for the previous year (restated value). 

Operating profi t in 2009 was EUR 40.5 million. In net 

fi nancial results, interest on loans increased from EUR 

7.3 million to EUR 12.6 million as a result of heavy 

investment in fi xed assets. 

A An Annua An nua nual l m mmeet 

eeting tiing of f st staff taff af ff of f th 

the th e S 

erv er erv e ici icing i ing Uni Unit Uniit t - Eu Europ Eu E rop roparq arq arque, ue, Sa SSa Sant nt nta t Ma 

Ma Maria M ria i da d da Fe FFe Feira ira 

i 

42 

On the other hand, there was a net foreign exchange gain 

of EUR 5.6 million, while the previous year a net foreign 

exchange loss of EUR 6.8 million occurred. Overall, the 

contribution of the fi nancial component to the Group's 

profi t was -EUR 7.6 million compared to -EUR 14.9 

million in 2008. Thus, fi nancial costs represented less 

than 1% of total sales. Profi t Before Tax and Net Profi t 

amounted to, respectively, EUR 33 million and EUR 27.1 

million. The Net Profi tability on Sales was 3.4% and the 

Return on Average Equity was 30.8%. 

Net assets of the Group rose 21% to EUR 824 million, 

primarily due to the signifi cant investments made. In 

2009, the investment effort focused in particular on the 

new power transformers manufacturing unit in the USA, 

which mobilized large material and human resources, 

accounting for about 82% of the year’s investment total 

in tangible and intangible assets (these amounted to 

around EUR 92 million for the Group). 

The two joint ventures established in India in the 

Electrical Switchgear business unit also deserve highlight 

for the importance to the international development of 

the Group. 

The impact of the investments resulted in the Group's net 

fi nancial liabilities growing from EUR 139 million to EUR 

228 million by the end of 2009. Despite the increased use

Work W k Group G dduring i th the St Strategic t i Planning Pl P i Meeting M ti (M (March h 201 2010) 

of bank loans, the net fi nancial debt / EBITDA indicator 

at the year’s end stood at a very acceptable value of 3.8. 

Medium and long-term fi nancial liabilities stood at EUR 

104 million, almost 90% of which referred to loans taken 

out for investment purposes, around EUR 54 million of 

which matures at between 5 and 10 years. 

In relation to fi nancial risks, the policies defi ned for the 

risk management of exchange rates, interest rates and 

the price of “commodities” were maintained. 

2009 was marked by strong variations in some of the 

Efacec Group’s major business currencies. Efacec had 

exchange options to hedge cash fl ows of USD 24 million 

and 1 million pounds sterling, at 31 December 2009. 

The Group's strong export component, especially in 

the markets where the dollar is the dominant currency, 

leads to signifi cant exchange rate exposure which is 

permanently monitored and hedged through the various 

types of fi nancial instruments available on the market, 

43 

especially options on currencies. In relation to business 

in Brazil, where Efacec is part of a consortium, there are 

still contracts to fi x currency exchange rates to cover 

payments in U.S. dollars, which represent a nominal 

value of approximately USD 16 million for the Group. 

Regardings to raw materials, which are very important to 

the Energy business, the price of copper on international 

markets rose sharply over 2009, increasing from USD 

3,070 per ton to USD 7,346 per ton (+139%) after 

having fallen 56% the previous year. 

Concerning to interest rates, the reference rates fell 

to the lowest ever levels but, in contrast, there was a 

very signifi cant increase in spreads. Pertaining to bank 

fi nancing, Efacec tries to control its costs through the 

contracting of structured products with hedging interest 

rates. This type of hedge amounted to EUR 115 million 

for loans denominated in Euros and USD 100 million for 

dollar fi nancing, at the end of 2009. 




45 




47 




Portugal, 

a market 

of major 

excellence 

In 2009, the domestic market accounted for 43% of 

Efacec's orders and, at the end of the year, the company 

had 2,948 employees in Portugal - 1,035 managerial 

staff and 1,913 non - managerial staff. 

The Portuguese market continued to be the focus of 

greater and more careful attention from Efacec in 2009. 

This fact is namely due, to the importance of this market 

in the heart of the Group's businesses, in which Efacec 

has maintained, as clients, for many years, the most 

prestigious Portuguese companies in the various sectors 

in which it performs, but also the value of the references 

which it has acquired here, year after year, and which 

has allowed it to conquer complex, diversifi ed and large 

sale projects in the international market. 

On the other hand, Efacec develops activities in Portugal 

which relate to its ten Business Units, in its three hubs in 

Arroteia and Maia (Greater Porto Region) and Carnaxide 

(Greater Lisbon Region) and is also involved in various 

projects and installations which are in progress across 

the country, for the most diverse clients. It is also from 

Portugal that Efacec intends to replicate the businesses 

and activities which it develops in international markets 

which are a priority to the company. 

Also from Portugal, the Efacec Management Systems 

develops its activity of Shared Services, which are 

48 

based on strategies, policies and practices which are 

common to the entire Efacec Group and which are the 

fundamental base for business which occur in Portugal 

but also throughout the rest of the world. 

Efacec, seeking to support its goals of strong growth, and 

increasingly integrating concerns for the sustainability of 

the company in all its areas, adopted various models and 

management processes for its businesses and people, 

aimed at achieving levels of excellence the set it apart 

from the competition. 

The highlights of those processes include the 

management model adopted by Efacec in 2007, which 

covers a signifi cant pathway starting at the Five-Year 

Strategic Planning to the implementation, on a year-byyear 

basis, of the established strategic goals. 

The model is based on the Budget-Strategic Planning 

cycle and the Management Control meetings (Business 

Performance Meetings - RP; and Human Resources 

Performance Meetings - RPRH), and it has demonstrated 

its success. 

The meeting to launch the Five-Year Strategic Planning 

(PE) is usually held in March every year, and it brings 

together Efacec shareholders, the Chairman of the Board 

of Directors of the Company, the Executive Committee 

(EC), the Strategic Planning area, the Managers of 

Visit Visi isit t to 

the he Pow Po Power er r Tra Transf Transformers nsf nsform ormer ers plant 

ant a as part 

t of th the 

he “Get Get t to Know Efacec” Efac facec ec programme - Arro Arroteia, roteia, , P PPortugal 

ort ortuga ug uga g l

Inside the Converter Plant ofthe of the he Ren RRenewables ewables Unit - Portugal 

the Business Units and Market Units (BU and MU) and 

the Shared Services (SP) as well as various frontline 

managerial staff from each of the units. 

A “kick off meeting” for Strategic Planning is chaired 

by Luís Filipe Pereira, CEO of Efacec. The BU and MU 

managers speak following a predefi ned template. 

Following the initial overview by the CEO, a thorough 

analysis (quantitative and qualitative) of the previous 

year is carried out, comparing the results achieved with 

those set forth in the budget and the main achievements 

and problems faced. 

Then the second phase focuses on future planning, based 

on an analysis of growth prospects for the company, 

taking into account the characteristics and challenges 

posed by the competition and the market, as well as the 

existing internal competences and capabilities that are 

available for implementation of the strategy. 

Following a detailed analysis and discussion, the meeting 

concludes with the establishment of the Strategic 

Challenges (medium and long-term) by the Executive 

Committee for the different units of the company. 

The BU, MU and SP submit their Five Year Strategic Plans 

to the Executive Committee between April and May. The 

consolidation of the Strategic Planning of the Units gives 

body to the Efacec Strategic Plan, which is presented to 

the company's shareholders for approval in July of each 

year. 

49 

The Budget Meeting is held in October, with the same 

offi cers attending as the Strategic Planning launch 

meeting. Each BU, advised by the Administration and 

Finance area and other cross-group areas, works as a 

team with each MU, to guarantee, after these bilateral 

meetings, a fi rst version of the budget for the following 

year. The budget includes the growth goals of Efacec for 

the ten businesses in the seven specifi c markets of the 

company as well as for the rest of the world. 

The BU, MU and SP individually discuss their budget 

targets with the EC between October and November, and 

in December the Budget is presented to the shareholders 

of Efacec for approval. 

The RP of the BU and MU and the RPRH run throughout 

the year in parallel to all this budget-focused work. The 

RP of the BU occur on a monthly basis and the frequency 

of meetings in the latter two cases is every four months. 

These meetings guarantee the management control of 

the Company, in a comprehensive manner based on 

quantitative and qualitative analysis. 

It is also important to emphasize that, since the process 

of international growth of Efacec with the consequent 

signifi cant growth in the complexity and size of the 

businesses and projects, more structured management 

and control measures for the company’s dimension and 

risk factors were taken. In 2009, an area of Strategic 

Risk Management was created at the corporate level and 

directly under the CEO, with the appointment of a CRM 

(Chief Risk Manager). 




An area of Strategic Management of Purchases was 

likewise created at the corporate level, through the 

appointment of a CPO (Chief Procurement Offi cer), 

with the aim being to strengthen the competitiveness 

of Efacec. This area is responsible for developing 

strategies and processes in this area and developing a 

comprehensive intervention that extends across the 

entire Efacec Group. It acts in an integrated manner with 

the different procurement departments of the Business 

and Market Units of Efacec, which report to it by function. 

People Management, Innovation and Sustainable 

Development 

Efacec recognises that its employees are fundamental 

to its success, especially to its sustained international 

growth. In 2009, the emphasis was on attention to the 

company's human factor in the sense of developing 

further a culture and climate suitable to international 

expansion, by fostering and carrying on the Human 

Resources Management policies and practices adopted in 

the organisational development phase appropriate to the 

company. 

In this context, there has been growing concern for the 

areas most directly involved in the strategy and design of 

the human resources management in the company, with 

the development of program and practices within each 

unit that are drawn up with the Unit and are prepared and 

tailored to the characteristics of the specifi c businesses 

and people. Accordingly, the aim is for the different 

managers and not the Human Resources area, directly, 

to take on full responsibility for people management. 

Examples of this are the program of the Transformers, 

Switchgear and Automation Units, respectively related 

to the process of systematic down-top and top-down 

proximity/communication with young managers (working 

between 2 and 3 years for the company), the transverse 

process of Team Empowerment and the training process 

Visit by EDF ED EDF R&D &D to Fan Fa Fanhões hõe hões Substation, , REN R RREN 

EN - Portugal Port rtuga ug ugal 

50 

for Team Building, Top-Down Leadership/Communication 

and Coaching for senior management (detailed in the 

chapter relating to each of these units). 

Efacec also initiated this year and as a supplement to 

the standard practices used to integrate new employees, 

taking into account the particular time in Efacec’s life 

which, following the development of a vast program 

of cultural change started in May 2008 and continued 

in 2009 (a detailed description of this project and 

other activities relating to the management of human 

resources in the company, particularly in an international 

context, is provided in the section of this report devoted 

to Shared Services, which provides support activities 

to the Group), an extensive programme to improve the 

knowledge of Efacec. 

Major changes mark the this period of the Company’s 

life cycle and it is essential that they are systematically 

shared with employees. 

In this context, the integration period of each new member 

of Efacec is one of the most signifi cant in the personal 

and professional development of each employee and the 

Company has an extensive integration program which 

has the aim of allowing each new worker to get to know 

as intensely and as rapidly as possible the reality of their 

new environment and thus contribute much more swiftly 

to the achievement of personal and the company’s goals. 

This program can count on interventions from the area 

of Human Resource Management, the Unit where the 

new employee will work and the Executive Committee 

of Efacec. 

The fi rst round of the “Get to Know Efacec” programme 

was held in November 2009 at Efacec’s three facilities, in 

Arroteia, Maia and Carnaxide, and involved around 219 

employees. 

Following presentations, socialising among the 

participants is an important time for establishing contacts 

and answering questions, opening the way for more 

personal dialogue, openness and sharing of knowledge 

which, without doubt, are necessary for a conscious and 

secure integration in the Company. 

The interaction with company managers who have been 

with the company for some time are also important, and 

this is achieved holding a "Breakfast with the CEO”. This 

event began in 2008 and it has generally been considered 

to be of great worth. 

The laying of the fi rst foundations of the Efacec Academy 

Global Learning (EAGLE) project is also a highlight. In 

the current highly competitive environment in which 

Efacec operates, the continual pursuit of knowledge 

and excellence is even more essential for differentiating 

the company as a global player and the need for the

American employees l iin training i i 

systematic implementation of the strategic objectives. 

It is also in such an environment that the tackling of 

learning in ever greater depth is absolutely essential 

in Efacec, and to develop platforms and mechanisms 

to more sophisticatedly manage the enormous pool of 

knowledge existing in the company, making it available 

to all stakeholders and encourage innovation and the 

organised production of more knowledge. 

This is the context underlying Efacec Global Learning 

Academy, a project to be implemented in 2010 which 

considers organisational learning and its origins as global 

and globalised factors, necessarily without borders. 

It opens the door to strategies and practices that are 

structured and organised under an academ-based 

seeking to cancel out distance and share with the entire 

community within Efacec and outside of the company the 

best that is produced inside and outside the company as 

regards learning and knowledge management. 

In the same way, Efacec initiated in 2009, under its 

regular investment in the fi eld of innovation, its “Efacec 

Colombo Pilot” corporate program developed through the 

transversal Innovation team of the José de Mello Group. 

This programme has already been implemented at José de 

Mello Saúde, CUF and Brisa. The aim of this programme 

is to encourage the generation and implementation of 

ideas that increase productivity. In other words, doing 

things more quickly, more easily and/or at lower cost. 

it was decided in 2009 to extend this project to the 

Efacec markets and the implementation of the fi rst pilot 

51 

in the international environment is planned for 2010, in 

ACS-Advanced Control Systems, in Atlanta, which will 

be subsequently extended to Efacec Power Transformers 

Inc. 

Important Visits 

In May 2009, EDF R&D, the research and development 

unit of French group EDF, visited the Efacec Automation 

Unit as well as two important jobs concluded by the Unit 

in the fi eld of substation automation. 

EDF is a leading European company in energy, focusing 

on the electricity and gas fi elds. It operates in the various 

business segments electricity, from the liberalised 

segments (generation, marketing and business) to the 

regulated ones (transmission and distribution). 

The EDF R&D party visited the Fanhões substation of 

REN and the Quinta do Conde substation of EDP. Both 

substations are equipped with automation systems with 

integrated numerical protection according to the IEC 

61850 standard, supplied by Efacec. 

This visit allowed EDF R&D to learn about the substation 

automation solutions developed by the Automation 

Unit, as well as its participation in the InovGrid project, 

focusing on the SmartGate solution. 




53 




The new 

developments in the 

Spanish market 

The Spanish economy was one of Europe’s economies 

most affected by the world economic crisis of recent 

years. 

Despite this scenario of severe crisis, Spain is one of 

the newest markets defi ned as priority target for the 

international expansion of Efacec. In 2009, the company 

pursued its development in the market through several 

important undertakings. 

Efacec Systems España SL continued its growth process, 

increasing its workforce to 95 employees at the end of 

2009, which is 50% up compared to 2008. 

The company has offi ces in Madrid (Alcobendas and San 

Fernando de Henares) and Gijón, and it has so far been 

involved in important projects. 

A highlight of which in 2009 was Efacec receiving 

important appreciation from Iberdrola, when it was 

awarded that company’s International Supplier of the 

Year prize, in the social responsibility area. 

The Company reiterated, with the award of this prize, 

its aim of encouraging sustainable development, quality 

and respect for the environment and the prevention of 

occupational accidents in the business management of its 

suppliers, who are selected based on their commitment 

Guijo de Coria Solar Park 

k - Spa Spain 

in 

54 

to those factors as well as the technical and production 

capacity they have demonstrated. 

In addition to the supply of transformers and mobile 

substations, the Efacec Group has contracts with Iberdrola 

for the activities of Energy Servicing (Repair contracts 

for various types of transformers; the transfer of power 

transformers; the assembly, testing and commissioning 

of new transformers supplied since 2001). 

In the Energy fi eld, Efacec is currently a supplier of 

reference for other companies in the Spanish market, 

having supplied in 2009 diverse transformers for the 

Spanish electricity grid manager, Union Fenosa / Gas 

Natural, E.ON España and for Hidro Cantábrico. The 

last company was also supplied with medium voltage 

switchgear. 

Signifi cant projects in other areas were also undertaken, 

including transport infrastructures, the most important 

being the continued work on the Tenerife Metro system. 

The desulphurization work at the thermal power plants of 

Aboño and Soto Ribera, for Hidro Cantábrico, continued 

in the engineering area. 

A further highlight in 2009 of the Spanish market was 

the start up of Servicing activity at the S. Fernando de

Henares Repair Centre, as well as the certifi cation of this 

activity according to ISO 9000. 

The highlights of the Energy Servicing activity were the 

beginning of local activities for the repair of compact 

substations and transformers of Union Fenosa/Gas 

Natural, as well as the contract for load regulator 

maintenance and the power transformer repair contracts 

for Endesa Generacion and for Iberdrola. 

Also of note in relation to Servicing activity in the local 

market was the beginning of cooperation with the Spanish 

Electricity Grid and the homologation of the activity of 

distribution transformers repair by Iberdrola. 

In Renewables, the investment company Greenlight 

Solar Investments Spain, SL was incorporated, which 

is a consortium of Efacec with three other Portuguese 

companies: A. Silva Matos, Nutroton Energias and 

Proef, to promote solar photovoltaic projects for roofs 

and with some projects already in the pipeline. In these 

solar projects, Efacec Sistemas España is the appointed 

contractor. 

Similarly, Greenlight Solar Investments Spain SL, in 

partnership with another Portuguese entity, Rooftops of 

Spain, SL of the Fomentinvest group, were the successful 

tenderers for the award of the rights to use the roofs of 

buildings and schools of the municipality of Telde, in the 

Canary Islands, for the generation of solar energy. 

The estimated power to be installed under this concession 

contract is 5 MWn. 

Efacec Efa fac f ec c pla pl pla plant lant nt n at aat Alc Alcobe Alcobendas obe be benda ndas s - - 

Sp Spain 

55 

In Maintenance contracts at the wind farms of EDP 

Renewables began. At the end of the year, Efacec 

Sistemas de Espanha had in its portfolio the maintenance 

of approximately 200 MW of wind power, corresponding 

to 413 wind turbines. 

Also often in this area is the performance of the contract 

with Hidro Cantábrico for maintenance services at the 

Aboño and Soto Ribera power plants and the contract 

with Dupont for the maintenance of industrial operations. 




57 




Central 

Europe, a market 

in consolidation 

Efacec has been operating in Czechoslovakia since 1991, 

through Efacec Praga. In 2008, Efacec initiated the 

developments needed to create deep roots in the Central 

Europe region, which represents a market of extensive 

opportunity for the company. 

Efacec’s business in this market is currently focused 

on six countries: Czech Republic, Slovakia, Hungary, 

Romania, Bulgaria and Greece. 

Efacec already has eight of its ten business units present 

in this market (Engineering, Switchgear, Automation, 

Renewables, Transformers, Environment, Transports and 

Logistics), which are supported by four local companies, 

Efacec Praga (Czech Republic), Efacec Central Europe 

(Romania), Efacec Contracting Central Europe (Austria) 

and Efacec Engenharia Bulgaria Branch. 

FEURSTEIN FEUR F EUR EU STE STEIN IN automatic aut au a oma matic tic storage st stora orage ge sys syste system ys tem - Aus Austri Austria tri tr t a 

58 

In the Czech Republic in 2009, Efacec submitted its fi rst 

ever bid in the engineering area for a contract out for 

tender from SEPS (Slovenska Elektrizacna Prenosova 

Susta), the Czech and Slovak utility company. 

In the switchgear area, the company maintained its 

market share founded on CEZ (the largest electric utility 

of the Czech Republic). 

The Efacec Praga team underwent reorganisation and 

strengthening during this year and the ISO 9001 quality 

system was implemented. 

In Slovakia, an important order of Fluofi x was obtained 

for E.ON AG, a German company based in Dusseldorf 

that operates in the fi elds of natural gas distribution and 

electricity generation and distribution.

The consolidation of the company (Efacec Central 

Europe) and its teams in Automation, Energy (T & D) 

and Environment, occurred in Romania. A highlight for 

this country was winning a major contract to supply one 

6x200MVA Core Autotransformer. 

In Bulgaria, important contracts with NEK (National 

Electric Company) in the Engineering area were obtained. 

This was Efacec's largest contract in Central Europe. The 

contract concerns the order of three lots of work for the 

upgrade of the Tzarevetz, Burgas and Metalurgichna 

400kV substations, located within a radius of 200 km 

around Bulgaria’s capital, Sofi a. The three batches 

of work, scheduled for completion in a period of 18 

months, include equipment delivery and installation, the 

Asse A AAssembly 

sse ssemb mbl mb y o oof 

f Medi MMedium-Voltage 

edi di dium u Vol ol o tag a e equi equipment qu qui qu q pme pment nt 

59 

construction of all related civil works and commissioning, 

respectively. 

In this country, Efacec is present through its Engineering 

Branch for the implementation of the contract with NEK, 

which has given the Group visibility in the region. 

The main contract in Greece was the supply of Medium 

Voltage Switchgear to PPC (Public Power Company), the 

country’s utility. 

In the Renewables area, the company achieved important 

advances in this market, including the order of a 110kV 

substation for Methana wind farm. 




61 




Maghreb, 

Efacec’s second 

largest market in 

terms of sales 

in 2009 

The Maghreb Market Unit bases its activities on three 

countries: Algeria, Tunisia and Morocco. It had 118 

employees at the end of 2009, signifi cant growth on the 

85 employees in the region at the end of 2008. 

Efacec, which has been operating in the Algerian market 

more than ten years, has primarily developed its activity 

in this country in the Energy sector, working with a 

number of companies, including Sonelgaz, the Algerian 

state energy utility. 

In recent years, the supply of products and services has 

signifi cantly grown in this region, and important deals 

were made in this region in 2009. 

In the Energia area, Efacec obtained in 2009 its largest 

ever order from Sonelgaz, relative to 220/60kV and 

60/30kV substations. 

The Automation Business Unit also received orders 

Sonelgaz Sonelga ga gaz Power Transformer - Algeria 

62 

from Sonelgaz for the supply of command, control 

and protection systems for four new GRTE substations 

(Sonelgaz's energy transmission company): Tissemsilt 

(220/60 kV), Messerghine (220/60 kV), Thniet El Had 

(60/30 kV) and Sidi Kada (60/30 kV). 

The different contracts established with Sonelgaz over 

the years (extension of the Algiers BCC; automation of 

Transmission Substations; maintenance and repair of 

Transformers, etc.) demonstrate the sustainability of 

Efacec’s businesses in Algeria. 

The Transports Unit also won another Telecommunications 

and Telematics order, relative to the area of 

telecommunications operators. The contract is for the 

supply of 1,500 multiplexing and optical transmission 

systems, manufactured by Efacec, for the access network 

of Algerie Telecom.

This order strengthened Efacec’s supply of access network 

equipment to this customer, which has reinforced its 

confi dence in Efacec products in recent years. Algerie 

Telecom has already purchased around 4,000 pieces of 

network access equipment from Efacec, making it the 

main customer among the telecommunications operators 

in the Maghreb. 

Efacec’s credibility in this market was well illustrated 

through the visit by the President of the People’s Republic 

of Algeria to Efacec’s facilities in Matosinhos (Arroteia), 

in June 2005. 

The Moroccan market is likewise one of extensive focus 

for Efacec. In this market, where the company has 

a strong presence in the Transports area, Efacec has 

developed other important business areas, particularly in 

the fi eld of Automation, having received an order in 2009 

40 MVA 220 kV mobile substation for Sonelgaz - Algeria 

63 

to supply a SCADA system for Lydec de Casablanca. 

In Tunisia, where Efacec has been present for some 

years, projects which broaden Efacec's activity portfolio 

in the country continue. The local structure had its human 

resources strengthened. 

In this market, the TRANSTU Manouba line of ONCF - 

Railways of Morocco (a customer of Efacec for several 

years) started operations, using two Efacec traction 

substations, and the company won a contract to supply 

medium voltage equipment to the Ministry of Agriculture. 




65 




Southern Africa, 

an Efacec market 

undergoing 

extensive 

transformation 

Efacec is a company of reference in the area of electricity 

transformation and distribution in the countries of 

Southern Africa. 

In this region, where the company has activities in Angola, 

Mozambique and South Africa, important developments 

were made in 2009 which included, in particular, robust 

growth in Human Resources from 126 employees at the 

end of 2008 to 194 at the end of 2009. 

Efacec Angola, Lda. has obtained important contracts 

in the areas of engineering, telecommunications 

infrastructure, transformers and electrical switchgear, 

and energy servicing, working with companies such 

as ENE – Empresa Nacional de Electricidade, EDEL - 

Empresa de Distribuição de Electricidade and UNITEL. 

The business highlights for Angola in 2009 were the 

establishment of the local Maintenance Unit and orders 

by EDEL for a mobile substation and two 400 MVA 

transformers. 

Maputo p Substation - Mozambique q 

66 

In 2006, Efacec reinforced its participation in Efacec 

Moçambique, Lda., and came to hold 100% of its share 

capital. The main customers of this company are EDM 

- Electricidade de Moçambique and various private 

companies, with important projects in the energy and 

automation areas, such as the Control Centres of the 

Maputo electricity network. 

In Mozambique, Efacec signed, through the Engineering 

Unit, the contract in 2009 for the Rural Electrifi cation of 

the Province of Cabo Delgado. That contract envisages 

the electrifi cation of the northern coast of Mozambique, 

from Mocímboa da Praia (at the border with Tanzania) 

to Palma (100 km from Pemba), with approximately 125 

km of 33 kV line and low voltage distribution to adjacent 

population centres. 

In Mozambique, Efacec has been gradually consolidating 

its position as a major player in energy transmission and 

distribution projects.

Besides Angola and Mozambique, South Africa is also 

a priority country of the Southern African market. 

Consequently, Efacec’s company for South Africa, EFASA 

Ltd., was created in September 2008. 

With offi ces in Johannesburg, Efacec has already won 

important business in this market, especially in area of 

Energy. 

Following the fi rst order received for this market by IST/ 

Powertech, a major local installer, the acceptance tests 

of three Efacec Normacel 11kV panels, for a total of 

42 cubicles, were successfully carried out at its plant in 

Matosinhos, Portugal. 

Partial Par Partia tial view 

iew of o of the th the e Efac EEfacec 

fac acec ec An Ang AAngola ol ola la Se Service Se Service e Uni Unit n t 

67 

The reception was also attended by representatives of the 

end customer Johannesburg City Power, South Africa’s 

largest municipal distributor and one of the largest in 

southern Africa. 

This success led to Efacec, through its switchgear 

business unit, becoming one of the strongest references 

in the South African market, enabling the group’s 

expansion in the region to be leveraged over the next fi ve 

years, especially through the Switchgear, Transformer, 

Automation, Renewables and Engineering businesses. 




69 




India, 

one Market 

with high levels 

of expected 

growth 

Despite the severe global economic crisis, the Indian 

economy has shown surprising growth, only partially 

impacted, in a negative way, in export-dependent sectors 

and segments, which represent less than a quarter of the 

country’s economy. 

Stimulated by a package of around eighty thousand 

million dollars in development incentives, the Indian 

economy grew by approximately 7.9% in the third 

quarter of 2009, with a boom in domestic consumption 

and accentuated creation of jobs, which is expected to 

increase still further in 2010. 

Efacec has been consolidating its position in this market 

of vast opportunities, particularly since India became the 

seventh most important market for Efacec's international 

growth in 2008. Efacec had eighty-two employees in this 

market at the end of 2009, compared with forty-eight at 

the close of 2008. 

Signing of the contract for acqu acquisition q isition of 51% 

1% of God Godrej 

rej r Ef Eface Efacec acecc Auto AAutomation 

uto utoma to mat mation ion on an and d RRobo 

Robotics b tics 

70 

New developments have been increasingly apparent in 

this region, particularly in the Logistics activity, with the 

acquisition of a majority stake in Godrej by GEARL, with 

Efacec now holding 51% of the joint venture (JV). 

Efacec, which has been present in India since 1998, 

formed its fi rst partnership in the country, a JV with 

Godrej, known as GEARL (Godrej Efacec Automation 

and Robotics, Ltd.). This JV, in which Efacec is now a 

majority shareholder, is located in Bombay and had forty 

employees at the end of 2009. 

In terms of airport logistics, Efacec partially outsourced 

the mechanical engineering and manufacturing of 

baggage handling systems for GEARL. 

GEARL received two important orders from Indian 

Railways.

At the same time, the largest and fastest automated 

warehouse ever executed by GEARL, with a height of 28 

meters and a speed of 2.4 m/s and belonging to Intas 

Pharmaceuticals, entered the commissioning phase. 

The company also developed the fi rst cooperation 

agreements in the area of reconditioning information and 

communication technologies, thus creating education 

and training opportunities in the area of automation. 

Regarding MV activities, the kick-off of the operations 

took off in April 2009, after the offi cial inauguration, and 

different products such as the Normacel L600 25kA, the 

Fluofi x GC excluding the ISFG switch, the Fluofi x GC EDF, 

based on the order specifi cations, the Qbn7 structure 

and the Normacel L-600 earthing switch are already in 

production as part of two joint ventures formed with C&S 

Electric in 2008. Products like the L850 chassis and the 

40 kA structures are already validated as well. 

At the beginning of 2008, Efacec had established two JV’s 

with C&S, one of the four largest Indian groups in the low 

voltage branch. 

These two JV's form part of reasoning to optimise 

costs on a worldwide scale, including the installation of 

industrial centres employing Efacec capital in well-defi ned 

geographic segments. The aim is to make a product costeffective. 

This product has to feature greater fl exibility to 

satisfy the specifi c demands of local customers (product 

customization) and overcome initial hurdles such as 

approval, certifi cation, access to customer, taxes and 

cultural aspects. 

Alongside this, over 300 projects are in progress for 

the production of components, which corresponds to 

approximately 3000 different parts. 

Another highlight in 2009 was the success achieved by the 

Automation Business Unit in prequalifi cation as a SCADA 

Implementation Agency (SIA) of the ambitious Electricity 

Distribution Network Accelerated Restructuring Reform 

Programme, an initiative of the Indian government aimed 

71 

at introducing the SCADA/DMS systems in eighty Indian 

cities. The fi eld of opportunities in this area enables the 

Automation Unit to be identifi ed as one of those that 

presents strong possibilities for implementation in the 

short term, in the Indian market. 

Besides the Automation activity, the Transformer, 

Renewables and Engineering activities were also 

identifi ed as those with the best opportunities of being 

replicated in the Indian market in the near future. 




73 




USA, Efacec’s 

greatest 

achievement to 

date 

For Efacec, the United States of America represents one 

of the most demanding markets in the world, where 

frontiers will tend to accentuate in the near future and 

where local products or solutions will become critical, in 

a reinforced logic of the “buy American” slogan. 

It is in this market, which is both demanding and one of 

the most important for Efacec, that the group has carried 

out its greatest venture to date. 

Efacec’s new production unit in the USA, Efacec Power 

Transformers Inc., will be offi cially inaugurated on 19 

April, 2010. 

The plant, for which the groundbreaking ceremony took 

place on 25 September 2008, was concluded at the end 

of 2009 and began operations in November of that same 

year. 

In December 2009, Efacec’s shareholders, the board 

of directors and the management team travelled to 

Effi ngham for an initial joint visit to the new plant. A 

sense of pride was felt by all those who witnessed the 

great technical and human undertaking accomplished by 

the Efacec teams involved in this project, considered one 

of the largest and most ambitious ever to be implemented 

by the company. 

March 17, 17 2010 - Team eam am of of t tth the e new 

w pow po power 

e transformer plant 

t -U - USA 

SA 

74 

The project, with investments totalling around 180 million 

dollars, also represents one of the biggest industrial 

investments ever made by a Portuguese company in 

the USA, and is considered a “Project Supreme” by the 

authorities of that State. 

Located in the State of Georgia, in Effi ngham county 

(near Savannah), the new plant was built to serve the 

needs of its North American customers, i.e. major US 

utility companies. 

This production unit should create about 600 jobs by 

the end of 2015. In 2009, over fi fty North American 

employees from the new plant, mostly engineers directly 

recruited in the USA by a prestigious team from Efacec 

in Portugal with HR managers and engineers, stayed in 

Arroteia for a period of on-the-job training that began in 

January and lasted approximately eight months. 

According to a survey conducted at the end of this 

training period, the North American employees showed a 

deep commitment to the Efacec project and highlighted, 

in an extremely positive way, the education offered by 

the group and the enhancement of their competitive 

know-how.

Meanwhile, the company also started to form a team 

of Portuguese expatriates from Efacec in the USA, with 

different competences and from different areas, and 

there are now over twenty employees in commissioned 

service at Efacec Power Transformers Inc. and ACS - 

Advanced Control Systems. 

The new employees recruited on American soil are added 

to all the above. All told, the headcount of the Market 

Unit in December 2009 was around 200. 

The new plant, in an advanced phase of qualifi cation 

by the customers, which include Florida Power & Light, 

Southern Company, Oncor, Exelon, Entergy, Allegheny 

Energy, Georgia Transmission and Nstar, started 

operating at the end of November 2009 and will deliver 

its fi rst transformers in 2010. 

In addition to the progress made by Efacec Power 

Transformers Inc., ACS - Advanced Control Systems, 

an engineering company acquired in September 2007 

by Efacec and headquartered in Atlanta, which carries 

activities that complement those of the Automation and 

Control Unit in Portugal, also gained major orders and 

saw some achievements in 2009. 

One of its main achievements was the new contract 

signed with JEPCO, a public electricity distribution 

company that has operated in the Middle Eastern country 

of Jordan since 1938. 

The contract is for the supply, by ACS to JEPCO, of a 

substation automation system. Prior to that, the two 

companies had recently established another contract for 

the supply of an automation system that included around 

500 smart analogue measurement modules integrated 

with aerial switch automation equipment. 

Details of work station at the new power transformer plant in Effi Effingham ngham - USA 

75 

ACS has been involved in the Middle Eastern market 

since 2000 and besides the services mentioned above, 

has supplied a SCADA/DMS system, with electricity 

network management functions, for the command centre 

of JEPCO in Amman. 

The relationship between ACS and JEPCO has been 

leveraged by the technological and institutional 

partnership of ACS and the Automation Unit in Portugal, 

with mutual benefi ts. 

Meanwhile, since the late 1990’s, ACS has had an 

important customer in Taiwan, from whom it supplied a 

major distribution network automation system (probably 

one of the largest in the world), controlling a database 

with more than two million points. 

To carry out and proactively monitor this project, ACS 

created a team in Taiwan, whose activities gradually 

expanded to the rest of the local market. 




77 




Latin America, 

the market that 

accounted for 

Efacec's highest 

growth in 2009 

In 2009, the Latin American market confi rmed its 

enormous present and future growth potential for Efacec. 

Brazil, Argentina and Chile constitute the target markets 

in this region, and Efacec currently employs 474 people 

in these countries, 85 more than in December 2008. 

In relation to Brazil, Efacec’s mainstream country in 

the Latin America market, the end of 2009 marked the 

beginning of a new stage in the operations of Efacec do 

Brasil, now at a new base located in Vila Mariana (São 

Paulo). 

The head offi ce was relocated, in order to achieve the 

goal of rationalising the use of resources and to create 

sustainable conditions for the group’s growth plans and 

business guidelines. 

With the same goal, the company reorganized its sales 

area, which is now structured around market segments. 

Efacec carried out projects of great relevance in this 

country, such as the completion of the opening of the 

Sacomã station, as part of the São Paulo Metro. This 

The Efacec do Bras Br Brasil as asi a l Team 

78 

achievement, accomplished on schedule, brought Efacec 

an excellent image with the customer. In 2008, Efacec 

had won this major contract for the executive project, 

provision and implementation of the electrical traction 

system for line 2 of the São Paulo Metro, leading a 

consortium with TRENDS, with a 70% stake. 

As regards Efacec Energy, a power servicing company 

located in Recife and acquired by Efacec in 2007, a 

special highlight was the visit to Portugal of the state 

secretary for economic development of Pernambuco, 

with the consequent signing of a cooperation agreement 

for the construction of an industrial unit of this company, 

in Suape. 

Efacec Energy also obtained an important contract from 

PETROBRÁS (Bahia) for to the repair of nine transformers. 

Another highlight is Efacec’s profi table participation in 

VIII Simpase, the power system automation symposium. 

In August, Light Serviços de Electricidade SA and the 

Brazilian National Committee for Electricity Production 

and Transmission - Cigré/Brazil, held the eighth edition of

this symposium, at which Efacec was actively represented 

by its Automation Unit, through two communications, 

one entitled “Projecto InovGrid - A evolução da rede 

de distribuição como resposta aos novos desafi os do 

sector eléctrico” (Project InovGrid - The evolution of 

the distribution network as a response to the new 

challenges of the power sector) and the other entitled 

“Soluções Avançadas para Engenharia de Sistemas IEC 

61850” (Advanced Solutions for IEC 61850 Systems 

Engineering). A traditional event in the Brazilian power 

sector, Simpase has become consolidated, since 1992, 

as the primary venue for companies and entities in the 

sector, for the exchange of information and experience 

on issues involving automation and protection, therefore 

Efacec’s presence is considered very important, given 

the strategic interest of the Brazilian market in the fi eld 

of automation. 

Outside Brazil, there have been other important 

achievements in the other countries of this market, 

particularly in Argentina, where Bauen Efacec, a company 

located in Córdoba, which has belonged to the group 

since 1997, began developing new products, with the 

Efacec EEfac 

facec ec Ene Energy 

rgy gy Se Servi Service rv rvi rvice ce - B BBraz 

Brazil raz razil a il 

79 

Normacel Double Circuit Breaker, the Normacel double 

bus for inclement weather and the Qbn7 back-to-back, 

having also initiated operations in the resin components 

centre. 

These projects arose following the offi cial opening, on 

June 12, 2007, of a new industrial unit specialising in the 

manufacture of medium and high-voltage equipment, and 

the remodelling of the fi rst medium-voltage component 

production centre outside Portugal, in 2008. 

Bauen Efacec also obtained its fi rst orders for high-voltage 

disconnecting switches with 100% local manpower. 

The new industrial infrastructures, the implementation 

of the ERP BaaN system and application of management 

procedures and tools common to Bauen Efacec and the 

equipment unit in Portugal, made a strong contribution 

to optimising and motivating the local team. 

In terms of Efacec’s activities in Chile, the main highlights 

are the fi rst order from CGE (Compañia General de 

Electricidad), enabling the company to increase its 

market share in Condenser Banks and Medium-Voltage 

Equipment. 




81 




ROW, the 

enlargement 

of dedicated space 

for global business 

Of these developments, on a global scale, we highlight 

below some of the businesses that Efacec has developed, 

particularly over the last two years, in different markets 

and activities. 

Asia-Pacifi c 

The renewal and increase of preventative maintenance 

contracts, including those involving different ASRS 

(automated storage and retrieval system) suppliers. 

The retention of small projects, besides ASRS, such as 

racking revamping for Eagle Services (maintenance of 

aeronautical engines) 

Various synergies were also developed as part of the ASRS 

project for Hitachi, the end customer of which is LTA-Land 

Transport Authority in Singapore, with reinforcement of 

the local structure for promoting industrial logistics in 

airports of Southeast Asia. 

In Macau, Efacec won an order from CEM-Companhia 

Eléctrica de Macau. 

Dublin Metro ro - IIreland 

reland 

82 

Peru 

In Peru, Efacec Engenharia was registered as the 

potential supplier of public (government) companies and 

was appointed as the new agent for this territory. 

Ecuador and Oman 

In Ecuador and Oman, the new agents were appointed 

for the territory, and several projects were identifi ed in 

different areas: Renewable Energies (wind and solar); 

Environment (waste water treatment); Automation; 

Engineering and Transports. 

Venezuela 

Efacec signed a power transformer and mobile substation 

supply contract in Caracas for the local electricity company 

CADAFE, the fi rst to be signed by the two companies. 

This contract, worth to over 90 million Euros, was up 

until then, Efacec’s largest in the area of Energy. In all,

46 36 power transformers of MVA -115 kV and 24 mobile 

substations of different powers. 

The deliveries occurred in installments during 2009 and 

will continue through 2010. 

Egypt 

Efacec’s Transport Unit won yet another major success 

in its international expansion in the area of advanced 

solutions for transport systems, with the signing of a 

contract for the Cairo Metro with ALSTOM Transport. 

Cape Verde 

The Engineering Unit gained orders from Electra, power 

generation and distribution utility in the territory of Cape 

Verde, as well as for the production and distribution of 

drinking water, and the collection, treatment and reuse 

of waste waters, in certain parts of Cape Verde. 

The contract in question was Lote 1 of the international 

tender “Santiago Island - Power Generation, Transmission 

and Distribution Capacity Development Project”, which is 

for the turnkey supply of a 20/60 kV step-up substation 

in Palmarejo and a 60/20 kV distribution substation in 

Calheta de São Miguel, located on Santiago Island. 

This power generation transmission and distribution 

capacity reinforcement project on Santiago Island, which 

is considered strategic, is the largest to date in Cape 

Verde’s energy sector. 60 kV substations will be installed 

for the very fi rst time, to allow a continuous supply of 

electricity to the entire island without interruptions or 

cut-outs. 

This project is fi nanced by the African Development Bank 

(BAD), the Japan Bank for International Cooperation 

(JBIC), the ECOWAS Bank for Investment and 

Development (EBID) and the government of Cape Verde, 

which also included the expansion of the existing plant 

in Palmerejo and the construction of the 60 kV overhead 

line network, awarded separately. 

83 

Ireland 

In 2007, as a subcontractor of the Somague-Sacyr- 

Bowen consortium, in 2007 Efacec won the tender for the 

new Dublin Light Metro B1 Line (LUAS) with a doubletrack 

length of 7.5 km and 11 stations. 

This contract was the largest ever of won by Efacec’s 

Transport Unit in the international market, and reinforced 

our leading position as supplier of transport solutions, 

particularly for Light Railway Systems. 

This success was the result of extraordinary teamwork 

with the direct participation of a number of Units and 

whose total of responsibility limits originated a high 

quality, competitive and innovative project. The project 

continued with its developments during the year 2009. 

France and the United Kingdom 

Long-term agreements were renegotiated in the United 

Kingdom with the utilities companies EDF Energy, E.ON 

Central Networks and Scottish Power, and in France 

Efacec signed contracts with EDF for the supply of 

Medium-Voltage Equipment. 




85 




87 




With an industrial unit in Portugal, Efacec needed to 

expand its operations into another market due to the 

obvious impossibility of supplying all orders received. 

The United States was the country selected, and in 

November 2009 the Efacec Transformer Unit began its 

new operations in this country. 

The Unit has been giving a special deal of attention to 

the management of its human resources, having initiated 

a project for intensive top-down communication in 

2009, which allows company staff with less than three 

years of service to make presentations, follow a model 

designed specially for this purpose, that reveal the main 

skills, interests and expectations of these young people, 

enhancing their motivation and interest in their work and 

in the projects developed. 

In 2009 the following Orders and Achievements of this 

Unit are singled out as relevant: 

REN – Redes Energéticas Nacionais 

Maintaining the trust that has been demonstrated over 

the years, in the technology, quality and reliability of 

Efacec equipment and solutions, REN –Redes Energéticas 

Nacionais awarded several orders to Efacec in 2009. 

One of these orders, which was the result of a tender 

launched in February 2009, was for 400 kV, 220 kV and 

150 kV transformers, with total power of 3390 MVA. 

These transformers are part of a reinforced investment 

Power Tra Transformer ransf nsf s orm o er Transportation by Schnabel car – MIDAmerican, MIDAmerican USA 

88 

plan by REN for 2010/2011, aimed at boosting the 

capacity and reliability of the energy transfer network 

by building new substations and increasing the power of 

several existing substations. 

EDP Electricidade de Portugal - Portugal 

Besides the usual supplies of transformers for the 

energy distribution network, an important order was 

also won from the EDP group, for the main and auxiliary 

transformers for group 5 of the combined cycle centre, 

in Soto de Ribera (Astúrias). Back in 2007, Efacec had 

supplied the main transformer for group 4 of that centre, 

which belongs to HC Energía – EDP group. 

Cadafe - Venezuela 

A contract with the state-owned energy company 

CADAFE, part of the Corporación Eléctrica Nacional da 

Venezuela group, for the provision of forty-seven 36 

MVA-115 kV power transformers, eleven 10 MVA-34.5 

kV substations, seven 15 MVA-34.5 kV substations and 

six 36 MVA-115 kV substations, from 2009 to 2010. 

Forming the basis of this contract is the Memorandum 

of Understanding signed by CORPOELEC (Corporación 

Eléctrica Nacional da Venezuela) and Efacec, in October 

2008, which is covered by the Supplementary Economic 

& Energy Milestone Agreement between the Bolivarian 

Republic of Venezuela and the Republic of Portugal of 

May 13, 2008.

Instituto Costarricense de Electricidad - Costa Rica 

Order for 4 power transformers for the Costa Rican 

market, for use by the largest public service provision 

group in the country, ICE. The order is for three 

36.6MVA 230/138/13.8kV single-phase and one 45MVA 

230/34.5+13.8kV triple-phase power transformers. 

JASEC (Junta Administrativa del Servicio Eléctrico 

Municipal de Cartago) - Costa Rica 

Order for two 35MVA 230/13.8kV triple-phase power 

transformers, intended for the Toro III hydroelectric 

plant. 

Iberdrola - Spain 

The business relationship between Efacec and the 

companies of Iberdrola Group began in 2001, with the 

provision to Iberdrola Ingenería y Construcción of a 

400 kV SHELL type autotransformer for the project in 

Monterrey-Mexico. This project marked the beginning 

of a partnership built and consolidated based on a 

relationship of trust and mutual collaboration with the 

various companies of Iberdrola Group, resulting in the 

supply of various types of equipment and services over 

the last few years. 

In 2009, Iberdrola Group, maintaining its confi dence in 

the quality and reliability of Efacec’s transformer unit, 

awarded a total 6.7 million Euros for distribution and 

generation projects in Spain and the United Kingdom, 

which included the orders for the project of Geração 

de San Estan I (six 27.5MVA- 240KV single-phase units) 

and for distribution substations and four 50MVA - 220KV 

transformers. 

Areva T&D - Spain 

An order for two 45MVA 230/34.5+13.8kV triple-phase 

power transformers for the TEJAR substation of JASEC for 

a 

The 

turnkey 

Transformer 

project 

ID 

of 

Department 

AREVA T&D, 

is 

a 

responsible 

Colombian company 

for the 

with 

maintenance 

which Efacec 

and 

has 

development 

been in partnership 

of SW tools 

for 

to 

this 

support 

market 

since 

the unit’s 

2007. 

engineering activity. 

The integration effort of these tools in Wintree2 continued 

in 2009, with special emphasis on: 

Transelectrica - Romania 

• Impulse ST Programme 

Order from Transelectrica, holder of the electricity 

transmission 

• Calculation and 

network 

Outlining 

in Romania, 

of the electromagnetic 

for six 200 

fi 

MVA, 

eld, 

231/121 

with support 

kV power 

for the 

autotransformers. 

solution adopted in the 100MVA, 

400/220kV single-phase autotransformers for Sonelgaz, 

one of which was successfully submitted to the 

short circuit test at the laboratories of KEMA in Holland 

Specifi c jobs in different areas are also highlighted: 

• New types of CORE AT windings: calculation algorithms, 

preparation of project and manufacturing 

processes 

89 

RTE - France 

A contract that includes the design, production, testing 

and supply of fi ve 100 MVA, 150/63 kV and 225/150 kV 

transformers, with a supply option for another two units. 

RTE belongs to the EDF group and is the operator 

for this company’s transmission system in France, 

with responsibility for operations of the highvoltage 

and very high-voltage network in that 

country. It was the fi rst time Efacec had received a 

commission of such signifi cant importance from this 

major company within the sector, in this market. 

Highlights 

The R&D Department of the Transformers 

Business Unit (BU) is responsible for the 

maintenance and development of the software (SW) 

tools that sustains the Engineering activity of the BU. 

In 2009 the effort for the integration of those tools in 

the Wintree2 SW proceeded with a special focus on: 

• Impulse ST program. 

• Calculation and Tracing of the electromagnetic fi eld, 

with the support of the adopted solution from the 

100MVA, 400/220kV single phase autotransformers 

for Sonelgaz (Algeria), one of which was successfully 

submitted to short-circuit test performed at KEMA 

Laboratories in Netherlands. 

• New HV winding types in CORE: calculation 

algorithms, Project preparation and manufacturing 

processes. 

• Implementation of a new system for access to 

project information by welded construction suppliers, 

which enables the fl ow of this information to be fully 

synchronized. 

• Development of an assisted winding system for 

Shell coils, with the use of contact-free continuous 

measuring (laser). 

• Carrying out heating tests with the use of fi bre 

optics – development of usage solutions, results 

analysis, calculation feedback and partnership with 

local supplier (Fibersensing). 

• Thermal modelling of Core transformers, with the 

use of SW CFD. 

• Continuation of the modelling studies for noise level 

calculation and reduction in Core transformers. 

• Support in the new AT cube design solution, to allow 

railway transport - Schnabel car - with the fi rst 

achievement for the 675MVA transformer for Mid 

American”. 




91 




Like the Transformer business, the Switchgear Unit is 

also within the Energy area, considered an area of strong 

future growth for Efacec. 

With an industrial unit in Portugal, Efacec also created 

conditions, between 2008 and 2009, for the development 

of industrial activities in the areas of high and medium 

voltage, in Argentina and in India. 

At the same time, the unit adopted a new image, 

introduced in the wake of the recent corporate image 

change at Efacec, seeking to convey a spirit of dynamism, 

modernity and better visual setting of the mediumvoltage 

cubicles. 

This change, together with the new products developed, 

were presented in October, at the Museu da Electricidade 

(Museum of Electricity) in Lisbon, at a workshop attended 

by the various managements of EDP and of REN, major 

customers of the unit. This pilot event will be extended 

to other key customers and partners, seeking to increase 

and improve communication and strengthen ties between 

the Unit and its customers. 

Also worth highlighting is the importance given by 

the Switchgear Unit to the management of its human 

resources, particularly to the transversal empowerment 

programme, with the start of a behavioural education 

scheme called “PEEE - Efacec Employee Empowerment 

Porto Metro D. João II Station - Portugal 

92 

Programme”, aiming to improve the involvement and 

performance of its employees. The success of the pilot 

programme led to its extension to the other teams of the 

switchgear unit. 

The unit also received RDI certifi cation (research, 

development and innovation) in 2009, in a ceremony that 

took place at Fundação Calouste Gulbenkian, in Lisbon. 

Present at the event, entitled “Sistemas Nacionais 

de Inovação – Experiências e Perspectivas” (National 

Innovation Systems – Experiences and Perspectives) 

were the Minister of Science, Technology and University 

Education, Prof. José Mariano Gago and the Secretary 

of State for Energy and Innovation, Dr. Carlos Zorrinho. 

During this meeting the diplomas for the certifi cation 

in research, development and innovation management 

systems were presented to the companies that, between 

January 2008 and December 2009, had certifi ed their 

RDI management systems in accordance NP 4457:2007. 

These included Efacec Aparelhagem de Média Tensão 

(AMT). 

This fact is all the more signifi cant for the company, 

as Efacec Aparelhagem de Alta e Média Tensão, which 

represents this activity, was the fi rst industrial company 

to become RDI certifi ed Portugal, confi rming the 

excellence of this Unit.

Revamping the Image of all the Switchgear Switchg hge hg ar Products 

Nanotechnology Laboratory - Portugal 

The scientists of the new International Iberian 

Nanotechnology Lab in Braga, Portugal, will be supplied 

with electricity controlled and transformed by Efacec 

equipment. This nanotechnology laboratory, with a 

built area of about 27 thousand m2 , has several offi ces, 

laboratories, a library, auditoriums, a science centre and 

a short-term visitors’ area. 

Efacec, through its Switchgear Unit, supplied and installed 

the switching substation, several substations and the 

medium-voltage ring. Normafi x cubicles, oil-immersed 

distribution transformers and dry-type transformers will 

also be supplied. 

93 

Other important orders and achievements of this unit in 

2009 include: 

REN – Redes Energéticas Nacionais - Portugal 

In the area of high-voltage equipment and solutions, 

REN ordered several hundred 400 kV, 220kV, 150 kV and 

60 kV disconnectors and circuit breakers from Efacec. 

Supply to more than 30 substations country-wide. 

EDP Distribuição – Portugal 

EDP continues to be a key partner, with an extended 

range of products that vary from modular cubicles, 

blocks and cubicles with withdrawable switchgear, to 

substations and OCRs, as well as disconnecting switches 

and circuit breakers, totalling orders for Efacec of several 

hundred medium and high-voltage products. 




Annual Annua ua uallmeet mmeeting 

eet ee eet eeting ing ng of o the Switchgear Swit wi chg hgear ear Unit Un U it – Casa da Música, Mú Músic sic sica Porto Por Porto 

GALP, GENERG, PORTUCEL - Portugal 

Once again, the Switchgear Unit was one of the main 

suppliers of Medium-Voltage equipment for large national 

projects, particularly for the provision of switchboards of 

high technical complexity for several projects, including 

Galp, Portucel, Andritz (Baixo Sabor), Hospital de S. João, 

ETAR de Lisboa (Lisbon water treatment station), Metro 

de Gondomar, International Iberian Nanotechnology Lab 

and many others. 

The main renewable energy projects also featured MV 

equipment, including the Ferreira do Alentejo Solar Plant 

and MARL, the world’s largest photovoltaic centre in an 

urban environment. 

São Paulo Metro and Companhia Paulista de Trens 

Metropolitanos - Brazil 

Important orders were received, and have now been 

delivered for the São Paulo Metro and CPTM (Brazil), 

integrating benchmark projects in Efacec group’s 

Transport area. Through this, the Unit reinforces its 

strategic growth plan with a signifi cant increase of export 

orders, keeping abreast of the internationalisation in the 

strategic markets of the Efacec group. 

94 

Sonelgaz - Algeria 

Important supplies continued to Algeria in 2009 with 

several hundred medium-voltage cubicles and highvoltage 

disconnecting switches, taking partnership 

relations with the various installers a step further 

and maintaining a signifi cant presence in the Algerian 

electricity transmission and distribution network. 

LYDEC - Morocco 

In Morocco, the various “Régies” (regional energy 

distribution companies) maintained their preference 

for Efacec, with the purchase of thousands of mediumvoltage 

cubicles. We also highlight the supply of the 

fi rst draw-out switchboard to LYDEC (energy distribution 

company from Casablanca). 

Southern Africa: Mozambique, Angola and South 

Africa 

The Unit has played a part in the development of 

Mozambique, through the remodelling of the MV network 

of Maputo, emphasising the supply of more than eighty 

MV/LV substations, dozens of MV cubicles to substations 

of EDM.

Several medium-voltage switchboards and high-voltage 

disconnecting switches for various installers, EDEL and 

ENE were also supplied to Angola. 

In South Africa, in addition to the delivery of 3 MV 

switchboards to CITY POWER, there were also an order 

for another MV switchboards for the energy distribution 

company of Johannesburg. 

CEZ - Czech Republic and Romania 

The Central Europe region gained several orders for the 

electricity companies and for various industrial projects, 

with special emphasis on CEZ (the Czech Republic and 

Romania), VCE (Slovakia) and PPC (Greece), with a 

contract for several hundred cubicles, increasing the 

strong presence of medium-voltage cubicles in the Greek 

distribution network. 

EDF – France 

A pluriannual contract for the supply of thousands of 

Fluofi x GC compact cubicles to EDF is in progress. This 

order is particularly important, not just because of the 

amounts involved, but also due to the acknowledgement 

of the high standards of quality, making the Switchgear 

Unit one of the main suppliers of medium-voltage cubicles 

to this prestigious French energy distribution company. 

Orders were also received from several French installers 

for major export projects, such as various electrical 

substations in Ivory Coast, Mauritania and Algeria. 

95 

Highlight 

In 2009 the Switchgear Business Unit completed a 

series of activities in line with its the strategic plan. 

The year began with the presentation of the new 

graphic brand image for all the new and current 

products of the BU, giving it a more modern, coherent 

and clear-cut image. 

Where 2008 had already been a very active year 

in external testing activities and approvals by 

customers, 2009 managed to duplicate this activity, 

with increasing requests and needs for tests, as a 

consequence of the new products and markets that 

emerged. 

Two new products were successfully certifi ed that 

should signifi cantly leverage the business of the Unit 

(BU): a new series of isolated compact and modular 

gas-powered cells for the 36 kV (Fluofi x 36) and a 

new vacuum circuit breaker for 50 kA (Divac 1250G), 

as well as a new mechanism for the high-voltage 

disconnecting switches. 

In terms of customer approvals, in 2009 the unit 

witnessed the reinforcement of its position as a 

prestigious supplier to EDF (France), and in the same 

year its products were approved at another renowned 

customer E.On. The year was also characterised by a 

series of actions to gain full approval of the Normafi x 

and Fluofi x ranges in Spanish utilities. The technical 

approval of high-voltage disconnecting switches in the 

Spanish electricity network was also a milestone in 

2009. 

Given that reducing environmental impacts also 

involves reducing waste, in 2009 the unit implemented 

more effi cient processes. One of these processes was 

a direct result of the introduction of the electronic 

material supply system (KanBan3G), after detecting 

an opportunity to eliminate waste from the packaging 

that arrived at the production line on a daily basis. 

These were replaced by returnable packaging that is 

reused, in a permanent loop between the suppliers 

and the plant, signifi cantly reducing the levels of 

waste of cardboard and plastic. 

In 2009 the BU also confi rmed its four certifi cations, 

namely ISO 9001 (quality), ISO 14001 and OSHAS 

18001 (environment and safety) and NP 4457 

(innovation management system). 




97 




Developing strong activity in the area of Energy Servicing, 

Efacec is highly skilled in this business area in Portugal 

and in markets such as Spain, Maghreb, Southern Africa, 

the United States, and Brazil, particularly through the 

activity developed by Energy Service (Recife), a company 

with a majority shareholding acquired by Efacec in 2007. 

In 2009, the unit signifi cantly increased its business 

volume through the maintenance of integrated 

businesses. In the same way, it improved its operating 

facilities in rotating machines and power transformers, 

with the expansion of the manufacturing area. 

It restructured its marketing area, particularly in relation 

to the industry area, and began operations in Madrid. 


Unit are singled out as most relevant: 


REN awarded Efacec three assignments for Substation 

Revamping 

substations. 

and transfer of transformers between 

Mai Mainte Maintenance nt nance of Rotating Machines 

98 

One of these contracts involves the remodelling of the 

Pereiros and Pocinho substations, at operating voltage 

levels of 60 and 220 kV. The services consist of the 

provision of disconnecting switch poles, electrical controls, 

engineering for adaptation of the new equipment to the 

existing equipment at the substation, and fi nal checks 

before the start-up of the equipment. 

This order follows on previous projects that have 

obtained good results, namely in Carrapatelo, Alto de 

Mira, Vermoim and Tunes. The other two assignments 

are for the maintenance and transfer of transformers 

between substations. 

The services involve the maintenance and transfer of 2x 

single-phase transformer banks of 3x 40 MVA, 220/63 kV 

between the substations of Vermoim and Vila Pouca de 

Aguiar. A 250 MVA, 400/150 kV three-phase transformer 

between the substations of Falagueira and Ferreira do 

Alentejo. A 63 MVA, 155/66 kV three-phase transformer 

between the substations of Pereiros and Estremoz. A 63 

MVA, 155/66 kV three-phase transformer between the 

substations of Chaves and Estremoz.

Partial Par artial view of the new aerogenerator plant - Arroteia, Arroteia Portugal 

EDP Distribuição - Portugal 

EDP Distribuição awarded four contracts for the 

remodelling of different substations. 

The revamping of the substations of Campo Alegre and 

Campo 24 de Agosto in Oporto is intended to equip ND5 

type MV switchboards existing in the two substations, 

with Normacel type “cassettes”. 

At the Parede and Entrecampos (in Lisbon) substations, 

the company will replace all the mobile components of 

the N1300 MV switchboard, where oil-powered dielectric 

is used, with new mobile components which use vacuum 

as the cutting technology. 

This kind of intervention enables a circuit breaker that 

has reached the end of its life to be replaced with another, 

more technologically up-to-date one, giving the cubicle 

full operability and transforming a compartmented 

cubicle into a metal clad one. 

99 


The unit signed a contract with Société Algérienne de 

Production de l’Electricité for the repair of two 220MVA, 

235/13.8kV power transformers at the thermoelectric 

power station in Marsat El Hadjaj in Oran, Algeria. 

This contract includes the provision of new windings 

to be manufactured in Portugal by the Transformer 

Unit, together with a vast amount of repair work at 

the customer’s facilities, by the local servicing team in 

Algeria. 

This is an extremely important contract, given the 

size of the machines to be repaired (the largest Core 

transformers ever repaired by Efacec), and since it is 

the fi rst time this customer will be working with Efacec 

Servicing. 

Since 2003, Efacec has maintained a solid position in 

Algeria in the area of power transformer repair, having 

already repaired several transformers ranging from 

20MVA to 80MVA in power for GRTE, an Algerian power 

transmission company. 




100

101 





Unit are singled out as most relevant: 


Supply and installation of a 220 kV capacitor bank panel 

in a turnkey contract, for the substations of Trajouce and 

Fanhões (in Portugal). 

Galp Power - Portugal 

Order from a cogeneration power plant in Matosinhos 

through an ACE (supplementary grouping of companies) 

with ENSUL/MECI. 

For the supply of a 60 kV industrial substation and the 

expansion of the 60 kV switching substation, as well as 

the supply and assembly of the electrical equipment, and 

the control and instrumentation equipment. 

CADAFE - Venezuela 

The Unit won the largest contract to be awarded in the 

area of Energy, for CADAFE, the Venezuelan electrical 

utility company, which will receive between 2009 and 

2010 forty-six 36 MVA - 115 kV power transformers 

EDI EDIA D A - Alqueva, Alqueva Portugal 

102 

and twenty-four mobile substations of different powers: 

eleven 10 MVA – 34.5 kV substations; seven 15 MVA – 

34.5 kV substations and six 36 MVA – 115 kV substations. 

This was the fi rst contract signed by the two companies. 

The basis of this contract is the Memorandum of 

Understanding signed by CORPOELEC (Corporación 

Eléctrica Nacional da Venezuela) and Efacec in October 

2008, which is covered by the Supplementary Economic 

& Energy Milestone Agreement between the Bolivarian 

Republic of Venezuela and the Republic of Portugal of 

May 13, 2008. 


Contract for the 220 kV Messerghine and 60 kV Sidi Kada 

substations. For the supply of equipment, studies, civil 

construction and assembly, as well as the contract for 

the 220 kV substation of Tissemsilt and 60 kV substation 

of Theniet El Had, for which Efacec also provided the 

equipment, studies, civil construction and assembly. 

Sonangol - Angola 

The shut down of Luanda refi nery project.

Alqueva l Dam - Portugal l 

Electra - Cape Verde 

Turnkey supply of a 20/60 kV step-up station at Palmarejo 

and a 60/20 kV distribution substation at Calheta de São 

Miguel, located on Santiago Island. 

This Electricity Production, Transmission and Distribution 

Capacity Reinforcement project, Santiago Island, which is 

considered strategic, is the largest to date in Cape Verde’s 

energy sector, with the installation of 60 kV substations 

for the very fi rst time to allow a continuous supply of 

electricity to the entire island without interruptions or 

cut-outs. 

103 

National Electric Company - Bulgaria 

The unit was awarded a contract for the National Electric 

Company of Bulgaria, which was at the same time, 

the largest contract ever obtained by Efacec in Central 

Europe, and the fi rst to be won in Bulgaria. 

The contract comprises three lots for rehabilitation 

of the 400kV substations of Tzarevetz, Burgas and 

Metalurgichna, situated within a 200 km radius around 

the city of Sophia. The three lots of work, scheduled for 

completion in a period of 18 months, include equipment 

delivery and installation, the construction of all related 

civil works and commissioning, respectively. 




104

105 




Formed by a young and highly dynamic team, the 

Automation Unit has focused on strengthening its ties 

with universities and higher education institutions, in 

its continuous pursuit of young people with profi les of 

excellence. 

An example of this are the various actions carried out 

with universities to present the challenging career 

opportunities offered by the Unit, involving the Unit’s 

active participation in classes/seminars. 

Concerning Human Resources management, the Unit 

has implemented an interesting top-down internal 

communication programme, which began at the end of 

2009 and involved, among other aspects, the execution 

of an organisational climate survey targeting the unit’s 

employees and the defi nition of a coaching programme 

targeted at team managers. 

From a business point of view, many achievements and 

orders were obtained by this Unit throughout 2009, with 

special emphasis on: 

REN - Redes Energéticas Nacionais - Portugal 

REN ordered an innovative wide/area monitoring system 

from Efacec to monitor its transmission networks. 

The need to monitor European power networks was 

reinforced with the events of November 2006, when 

the European network was divided into three “islands” 

due to a cut-out in Germany’s transmission network. 

An extended frequency load shedding was needed 

as a result. In Portugal, a large part of this task was 

done with Efacec equipment. Efacec’s scope of supply 

Guifões Command and Control Substation – Video surveillance Porto Metro - Portugal g 

106 

will include confi guring, integrating and commissioning 

the remote monitoring system, comprised of a central 

system installed at the National Dispatch and of Phasor 

Measurement Units (PMUs) installed at the Recarei 

substation. 


The Unit received major orders from Sonelgaz, 

an Algerian energy generation, transmission and 

distribution company, for the supply of command, 

control and protection systems for four new substations 

for Sonelgaz’s energy transmission company, GRTE: 

Tissemsilt (220/60 kV), Messerghine (220/60 kV), Thniet 

El Had (60/30 kV) and Sidi Kada (60/30 kV). The supply 

for the two transmission substations (220/60 kV) includes 

two command, control and protection systems based on 

the CLP 500SCC platform, incorporating Efacec BCU 500 

panel control units, together with Efacec TPU 420 family 

and third party protection systems. The supply scope 

for the two distribution substations (60/30 kV) includes 

two command, control and protection systems based on 

the CLP 500SCC platform, incorporating Efacec TPU 420 

family protection systems. 

KOSTT - Kosovo Electricity Transmission, System 

and Market Operator - Kosovo 

KOSTT ordered the supply of supervision and control 

systems for twenty-one substations of its electricity 

transmission network. 

KOSTT is responsible for the management and operation 

of the electricity transmission system in Kosovo, a 

system that comprises 1186 km of overhead lines with a

transformation capacity of 2400 MVA. The contract is for 

the supply of remote terminal units, based on the CLP 

500RTU platform, a technology entirely developed by 

Efacec. At the level of each substation, all the devices to 

be supplied (UC 500E, BCU 500) will intercommunicate 

through a LAN, according to Standard CEI 61850. The 

synchronisation of these devices will be performed by 

GPS. This is Efacec’s fi rst contract in Kosovo in the area 

of energy systems automation. 

São Paulo Metro - Brazil 

In the area of railway systems, Efacec do Brasil will 

conduct the project for the São Paulo metro system, 

which is being expanded with new lines. An automation 

and protection system will be provided for the electric 

traction network of the new line, and for the associated 

traction substations. The system will be based on the 

CLP 500 platform, with the use of terminal units and TPU 

S420 protection, and UAC 420 acquisition and control 

units. 

CTEEP - Brazil 

The project for CTEEP consists of the supply of 

supervision, control and digital protection systems 

for two transmission substations, Mairiporã and Porto 

Ferreira, with voltage levels of 138/88/13.8 kV. The 

various system devices will be integrated in accordance 

with Standard CEI 61850. 

Bandeirante - Brazil 

The project for Bandeirante consists of the supply of 

devices for remodelling of existing substations. For this, 

the company will supply TPU S420 terminal and protection 

units, as well as UAC 420 acquisition and control units. 

ANDE - Paraguay 

Also in the area of power networks, Efacec do Brasil 

was awarded the contract by ANDE of Paraguay, for the 

supply of supervision, control and protection systems 

for three substations, Colonel Oviedo, Acaray and KM30, 

with voltage levels of 220/66/23 kV. The system will 

be based on the CLP 500 platform, with integration 

of own and third party protection relays. Efacec Brazil 

will be responsible for the confi guration, testing and 

commissioning, together with the company’s Automation 

Unit in Portugal. 

107 

Highlights 

Development of the SmartGate and GFault-e 

devices that allow telecommand and automation of 

transformer substations, and also the concentration 

of data originating from smart meters (energy boxes) 

and its remittance to the counter management system. 

This development was performed within the InovGrid 

project organized by EDP Distribuição, and was subject 

to an application to QREN. The other participants in 

this project besides EDP Distribuição and Efacec, were 

LOGICA, JANZ/CONTAR, EDP Inovação and INESC 

Porto. 

The company concluded the development of a DTS 

(dispatcher trainer simulator) to be installed in the 

system supplied to EEM (Empresa de Electricidade 

de Moçambique). In the area of the SCADA/DMS/ 

EMS systems, the company concluded its automatic 

diagram generator, online database editor and 

synoptic editor developments with the incorporation 

of connectivity, also incorporating support for the 

transformer substation equipment (DTC / SmartGate). 

The year 2009 marked the start of the effective use of 

the BCU500, developed as part of the INTEGRA project 

in 2008. The equipment was used in command, control 

and protection systems for the transportation networks 

in Peru and Paraguay, and also for command, control 

and protection systems for the distribution networks 

in Portugal and in Romania. Its use is scheduled to 

begin in 2010 at REN, in Bahrain, and in Kosovo. 

The company also continued with the development 

of the new range of digital protective relays (line 

differential, distance and transformer differential) in 

2009, with application in the transportation network, 

and the development of cutting-edge engineering 

tools, for automation and protection systems. These 

projects, partially fi nanced by QREN, are scheduled for 

completion in the second half of 2010. 

On the other side of the Atlantic, at ACS, the company 

continued with the development of NTX20, a remote 

distribution automation unit, for equipment prototypes 

already existed. Also, In the SCADA/DMS/SEM system 

line, functionalities were incorporated in the FDIR (fault 

detection isolation and network restoration) module 

and in the interface with geographic information 

systems (GIS). 




108

109 




This Unit won numerous orders and achievements in 

2009, with special emphasis on: 

ETAR do Ave - Portugal 

Domestic and industrial sewage treatment station that 

covers the regions of Póvoa do Varzim and of Vila do 

Conde. It has treatment capacity of 3000 m3 /h for 

200,000 inhabitants. 

Hospital de S. João - Portugal 

Remodelling of the air conditioning and electrical facilities 

for adaptation to the cogeneration project. 

Remote Management for Águas do Centro - Portugal 

Monitoring and centralised control of several points of the 

supply network, including water tanks and miscellaneous 

mechanical equipment. 

Dust removal for Galp - Portugal 

Provision of the design and installation of two electrofi lters 

for the fuel boilers of the Sines and Matosinhos centres. 

Sopac - Portugal 

In the area of dust removal, supply of a dust collector to 

the Fertilizer plant. 

ERSUC ALGAR and RESULIMA - Portugal 

Three energy recovery systems for solid waste landfi lls 

with energy production. 

Construction of the Pedrogão Step-u Step-up p-up p SStation 

Station 

110 

Suldouro - Portugal 

Supply of the second oOrganic Valuation Centre 

(composting plant) to EGF – Empresa Geral de Fomento, 

which is part of the Águas de Portugal group. 

The production of energy from the organic fraction of 

Urban Solid Waste - USW is a recent technique that 

enables added value to be derived from this by-product 

instead of simply dumping it in landfi lls, separating 

plastic and glass and combustible waste – CDR at this 

facility of Suldouro, and in a screening operation. 

In the initial phase the organic USW is separated from 

the remaining waste in a screening line, with automatic 

removal from the rest of the waste by gravity and ballistic 

separators and crushers. This is followed by a washing 

operation and further fi ne separation. It is only after these 

treatment phases that the organic raw material attains 

a new granulometry suitable for anaerobic digestion. 

The organic matter is then fed into digesters, where it 

undergoes hydrolysis, fermentation and methanisation. 

The biogas released is burned in cogeneration groups, 

generating electric and thermal energy. The thermal 

energy is used for the actual digestion process, heating 

the digesters to a temperature close to 30ºC to activate 

the biological degradation faster. 

Suldouro will be separating 50,000 tons of waste per 

year, with estimated organic production of 20,000 tons. 

The forecast daily energy production is close to 18 MW. 

The total amount of this award is EUR 18 million, with the 

work of Efacec corresponding to EUR 12 million. 

EGF – Águas de Portugal - Portugal 

Provision of three biogas burning facilities for three waste 

landfi lls, with the performance, design, construction,

LFOTOBIO LF LFOTO OTO O BI BIO BI IO – Com Combin Combined bi bined ed processes proces e ses of solar so solar lar photocatalytic ph photo otocatalytic tic an aand db dbiol biological iol ologi ogical ox oxida oxidation ida d tio t nfor for the purifi purification cation of offleac leachates leachat 

h es from fromms m ssanitary 

ani anitar t yl yland landfi andfil fil fills ls 

supply and assembly of three biogas energy tapping 

systems produced in the landfi lls of Resulima, Ersuc and 

Algar of the EGF group – Águas de Portugal. 

They consist of the production of electric power for direct 

sale to the national network from the burning of biogas 

in internal combustion engines. The total installed power 

is 4.8 MW. 

Water Treatment Plan of Maputo - Mozambique 

The Environment Unit, in a consortium with Mota-Engil 

and Visabeira, will execute the design and the supply of 

the electromechanical equipment for the water treatment 

station of Maputo, with an estimated treatment capacity 

of 4200 m3 /h. 

The design and installation are the responsibility of 

Efacec. 

Wastwater Treatment Plant of Ticleni and Targu 

Carbonesti - Romania 

In partnership with Efacec Central Europe, Efacec 

Ambiente will be executing the design and the 

electromechanical supply for the Wastewater Treatment 

Plants of Ticleni and Targu Carbonesti in Romania. 

111 

Highlights 

Participation in CEBIO – Network of Competencies for 

Bioenergy in the Biogas working group. 

After the good results obtained in the pilot model, 

development of an experimental prototype for 

treatment of leachate (liquid effl uents from solid waste 

landfi lls), using sunlight as an inductor for the creation 

of oxidants that help degrade the pollutant substances 

from the leachate. 

Development of a pilot plan for the removal of 

sulphidric acid (H2S) by organic processes, with use in 

deodorisation and biogas washing systems. 

Study and selection of microorganisms for organic 

odour treatment systems applied to natural support 

structures: Heather, gorse and pine bark. 




112

113 




Key orders and achievements of this Unit in 2009 are: 

During 2009 the unit continued with its maintenance 

activity for EDP Distribuição and for EDP Renováveis, as 

well as global maintenance in the area of health for José 

de Mello Saúde and for the CUF Hospitals and Clinics. 

With the exception of the Industry market, the main 

contracts were continued, namely for the following 

customers: BRISA, OGMA, CLC, REFER, Sporting, 

Portuguese Air Force, Hospital Garcia de Orta, SAMS, 

Centro Hospitalar de Lisboa Central. 

EDP Renováveis - Portugal 

EDP awarded Efacec the contract to maintain eighteen 

wind farms in Portugal and Spain. The three-year contract 

involves the maintenance of the three wind farms of 

Campollano, in the Spanish province of Albacete, and the 

Vilanova wind farm in Portugal. 

Efacec obtained 124 Megawatts in Spain and 26 

Megawatts in Portugal of the 400 Megawatts of power 

installed in EDP’s wind farms. 

Porto Port rto o Metro MMetr 

etro o - 

Portugal 

114 

Football Stadiums - Portugal 

The Unit has taken on the whole lot for the maintenance 

of football stadiums for Portugal’s three largest clubs with 

the signing a maintenance contract with Sport Lisboa 

and Benfi ca involving the overall maintenance of medium 

and low-voltage electrical systems, electromechanical 

systems, including HVAC (heating, ventilation and air 

conditioning), fl uid networks, centralised technical 

management and all the infrastructure maintenance 

for the stadium. This contract will be added to those 

already signed by the company on 1 August, 2003, with 

Sporting Clube de Portugal and on 1 January, 2009 with 

Futebol Clube do Porto (Estádio do Dragão and Pavilhão 

Desportivo do Dragão Caixa), both with the same scope 

as this new contract. 

Central Termoeléctrica do Pego - Portugal 

Global maintenance agreement (duplication of the 

previous agreement).

NAMSA - Portugal 

Design and development of a solution for air conditioning, 

ventilation and heating of radar control equipment 

shelters for the Nato Maintenance Supply Agency 

(NAMSA). 

Lusosider - Portugal 

O&M (Operations & Maintenance) contract in the specialty 

of Electricity of the Lusosider Facilities. 

BPI – Banco Português do Investimento - Portugal 

Maintenance agreement in the HVAC specialty at the 

facilities of BPI in the Lisbon area. 

GE - Portugal 

Maintenance work and auxiliary equipment of wind farms 

of GE. 

KOODZA - Portugal 

Global maintenance agreement for the facilities of 

KOODZA (large retail areas of sports equipment). 

DECATHLON - Portugal 

Global facility maintenance agreement. 

CUF Adubos and SOPAC - Portugal 

Automatic Bagging and Palletising Assembly project at 

the plants in Setúbal. 

Portucel - Portugal 

Mechanical assembly of the new paper machine and the 

respective cutting-machines. 

CUF Químicos Estarreja - Portugal 

Increase of capacity of the aniline and chlorine plants and 

assembly of the new nitric acid plant of CUF Químicos 

Estarreja. 

Spain 

Start of wind farm maintenance activity. 

Petrobrás - Brazil 

The Unit renewed a contract of strategic importance to 

Petrobras (FAFEN). 

115 

Angola 

In Angola the Unit initiated its operations in the market 

of industrial maintenance. 

Special emphasis is also given to on the Unit’s entry into 

new activities, such as the start of the Energy Certifi cation 

process and Internal Air Quality Control activity, in the 

facilities and health markets, seizing the opportunities 

provided by the new legal framework, the start of 

provision of services and responsibility of transformers, 

the creation of a new business segment related to 

industrial projects and assemblies and the start-up of the 

maintenance activity of small-hydro plants. 

Certifi cations and qualifi cations 

Special emphasis is placed on the renewal of the 

certifi cations in quality, environment and safety, the 

environmental certifi cation of ACE EME2 and the renewal 

of the INCI permits. 

Highlights 

Project carried out at the general aeronautical 

material workshops (OGMA). 

This project consisted of the replacement of four 

diesel pick-ups with seven electric golf carts, which 

alone brought signifi cant savings in rental costs and 

fuel consumption. 

These changes also enabled the company to reduce 

the price of the service provided. 

It also introduced bicycles as the preferential means 

of travel. 

About thirty employees are now getting around by 

bicycles - some restored, others purchased. 




116

117 




The year 2009 confi rmed the activity of the Renewable 

Energy Unit, focusing on wind, photovoltaic solar, 

microgeneration and wave power. 

This Unit obtained ISO9001 certifi cation in the 

certifi cation audit carried out by APCER, which involved 

the: “Marketing & Sales, conception, development, 

management and performance of turnkey projects, 

production, installation, testing, start-up, maintenance 

and technical assistance of electrical power plants which 

use a primarily renewable source of energy. 

In 2009 the Unit was one of the founding entities of 

the TER competence Network, Associação Rede de 

Competência em Tecnologias de Energias Renováveis 

(Renewable Energy Technology Competence Network 

Association). 

TER is a non-profi t scientifi c and technical association 

whose purpose is “the pursuit of the activity of research, 

development and innovation in the area of science 

and technology of renewable energies, as well as the 

development of solutions in this area, based on the 

primary production of knowledge”, bearing in mind the 

criterion “the interest of the national industry and its true 

capacity to enhance the national or international value 

Detailed view of the Converter Plant of the Renewables Unit - Portugal g 

118 

of the technologies, products and processes developed” 

as well as “the existence of basic technical and scientifi c 

competences” in Portugal. 

Efacec also takes part in project Green Islands, the 

objective of which is to design and implement an 

innovative energy system with large-scale incorporation 

of renewable energies, effi cient management of 

energy consumption, implementation of intelligent 

energy networks and introduction of electric vehicles, 

developing an integrated methodology that responds to 

the new challenges for the defi nition of a new paradigm 

of energy systems. This methodology will therefore focus 

on analyzing the technical, economic and social viability 

of the implementation of projects in the Autonomous 

Region of the Azores (Portugal). 

The unit signed a technological assignment agreement 

with GREENPOWER for the production of photovoltaic 

solar converters, with unit power of 100 kW and 

possibility of modular assembly up to 500 kW. This 

second assembly line will be situated in Maia, with the 

production of 100 units already estimated for 2009. 

This extends the supply of Efacec equipment to turnkey 

photovoltaic installations, promoted by the company

Offi Official i l opening i of f the th Photovoltaic Ph t ltt i SSolar l Energy E MAR MA MARL - Li LLisbon, b PPortugal t l 

itself or for third parties, in the different regions of the 

world where it is present. 

It also formed a partnership with GALP in the scope of 

microgeneration, which will involve the supply of twelve 

microgeneration facilities at GALP petrol stations, in 

the Lisbon area. It was a pilot project, now successfully 

concluded, and which made it possible to form a work 

team that will study the expansion of this project, in a 

second phase, to another eight gas stations. 

Following the partnership previously formed with EDP, 

for the MyEnergy programme in microgeneration, this 

new agreement serves to boost Efacec’s leadership of 

this market segment, as a preferential partner of the two 

largest companies in Portugal in the area of energy. 

The Unit took part in the auction of phase C of the 400 

MW Wind Farm Competitive Tender, having won lot 11 of 

6 MW in Figueira da Foz. This will be the fi rst wind farm 

promoted by the company itself, to be won by Efacec’s 

Renewables Unit, and forms part of a positioning strategy 

which includes the entire value chain, from promotion to 

construction, including the operation and maintenance 

of the farms and integrating products and services from 

its portfolio, such as transformers, electricity equipment, 

installation of interconnecting lines with the network, 

electricity adaptation substations and electricity networks 

from the farm, among others. 

119 

MARL- Mercado Abastecedor da Região de 

Lisboa (Whosesale Market for the Lisbon Area) 

Portugal 

Central Fotovoltaica do MARL, one of the largest urban 

photovoltaic centres in the world, is the product of an 

ambitious and highly complex project, representing 

an investment of 31 million euros organised by MARL 

Energia (whose shareholders are Caixa Capital, the New 

Energy Fund, Fomentinvest and Efacec). The execution of 

the project will be the responsibility of the consortium led 

by Fomentinvest SGPS and including Efacec and Elecnor. 

The photovoltaic panels are 220 Wp Atersa A-220, 

installed at the Centre, with polycrystalline silicon 

technology (greater electric effi ciency and optimisation of 

the center’s costs) and high power density, a characteristic 

that allows the inclusion of more Watts per square metre, 

which is an important factor due to the area restrictions. 

The energy generated by the panels, in continuous 

current, is converted into alternating current by the 

59 inverters produced in Brazil, installed in the 24 

Transformer Substations next to the slopes and buildings. 

Eleven of these Transformation Substations have 315 

kVA of power, while the remaining 13 have 250 kVA, all 

interconnected by a 10 kV medium-voltage network. All 

the energy produced is distributed to the network of EDP 

through the Switching Substation, connected to EDP’s 

substation at the facilities of MARL. 




Central Fotovoltaica Porto Santo - Portugal 

Efacec is responsible for the turnkey supply to Nenergias 

(Nutroton Group), of a photovoltaic solar centre, with 

2MW of power, in Porto Santo island, Portugal. The 

photovoltaic centre of Porto Santo will contribute to 

reducing dependence on fossil-fuels, in Porto Santo 

island, helping to reduce greenhouse gas emissions by 

around 1666 thousand tons of CO2 per year. 

The production of photovoltaic energy is suffi cient to 

supply the equivalent of 540 households, in other words, 

it produces the energy necessary to meet the annual 

requirements of a signifi cant proportion of the resident 

population of the island. 

Central Fotovoltaica de Caniçal - Portugal 

Following a private tender process, Efacec was chosen 

for the construction of a photovoltaic centre in EPC 

(engineering, procurement and construction) regime, 

with nominal power of 6MW on Madeira island, more 

precisely, at Caniçal. The entity organising this project is 

Nenergias, a company belonging to the Nutroton Group. 

This project is included in an existing plan on the Madeira 

archipelago, which is aimed at reducing CO2 emissions 

and at the same time, reducing the dependence on oil. 

The reduction of emissions will make the archipelago 

Photovoltaic Photo otovoltai taic system syst st s em of the Unive Universidade versi s dad da d e dde 

de e AAveiro 

Aveiro r - Portugal Port rt r uga ugal 

120 

greener, a factor that enhances is potential for tourism. 

This centre will avoid the emission of 4998 tons of 

CO2, while allowing the supply of electricity to 1620 

households on Madeira island. Its contribution to the 

island’s electrical system is 11000 MWh per year. 

Central Fotovoltaica da Universidade de Aveiro - 

Portugal 

Efacec Engenharia, through its Renewables Unit, 

provided the Universidade de Aveiro with a photovoltaic 

system in turnkey regime with 200kW of power, through 

the installation of 936 photovoltaic modules at the top 

of two buildings of the university. The selection of these 

fi rst two buildings took into account the availability 

and accessibility of the roofs and the proximity of the 

buildings to the public electricity distribution networks. 

Implemented within the scope of the Programme 

“Energy Effi ciency in the UA”, jointly fi nanced by the 

government, the energy micro-production project is 

one of the structuring actions of the set of interventions 

being developed by the Universidade de Aveiro, and with 

which Efacec is associated through the provision of an 

innovative solution in the area of renewable energies.

Central Fotovoltaica do Instituto Politécnico de 

Bragança - Portugal 

An innovative and competitive solution enabled our 

company to come fi rst in the public tender launched 

by Instituto Politécnico de Bragança for the supply of a 

“live farm” specialising in the dissemination of renewable 

sources of energy and the technologies involved, 

contributing actively, in a regional and national context, 

to a better perception by the community of the real costs 

of energy solutions and of the best alternatives, in order 

to stimulate more effi cient behaviours and more rational 

use of energy. After the signing of the contract work 

agreement, the company began work on the installation 

of the various components of the farm of renewable 

energies, with completion scheduled for the beginning 

of 2010. This included the installation of 46kW of 

photovoltaic modules and 10 kW of wind microturbines, 

with the respective monitoring systems. 

Central Fotovoltaica Bezmer - Bulgaria 

The Unit has already completed the acquisition of the fi rst 

project in Bulgaria: A photovoltaic farm of 4 MW, to be 

built in the location of Bezmer, with estimated electricity 

generation of around 4800 MWh/year. 

The acquisition of the company - Bezmer Energy OOD 

- is accomplished in phases, associated with project 

development milestones, with Efacec becoming the 

owner of all the capital stock as soon as all the licenses 

required for construction are issued. Start of construction 

scheduled to begin in June. 

The farm will use polycrystalline silicon panels, installed 

on fi xed structures, and will come equipped with 

conception/design inverters and own manufacture of 

the Renewables BU, as well as Efacec medium-voltage 

transformers and cubicles. 

Other photovoltaic and wind farms are to be negotiated 

in the region of Central Europe, a strategic market for 

the Group, seeking to create a project pipeline that will 

enable regular activity in the Renewables business. 

Ventinveste - Portugal 

The unit supplied 76 sets – electric generator + electronic 

power converter – to Ventipower for incorporation in the 

2 MW wind towers of REpower. 

This project is part of Efacec's participation in the 

Ventinveste consortium that was awarded the license to 

install 400 MW of wind energy in Portugal. 

121 

Microgeneration systems 

Within the strategy outlined for generation distributed 

in Portugal, the Renewables Unit launched an integrated 

solution (photovoltaic solar, thermal solar and wind) that 

has already enabled it to surpass the milestone of 200 

installations with a competitive and viable solution. 

Efacec is a partner of EDP’s microgeneration solution 

known as “MyEnergy”. 

Highlights 

Project SolarSel 

Project QREN (National Strategic Reference 

Framework) jointly promoted by Efacec (project 

leader), FEUP (University of Oporto, School of 

Engineering), CIN, CUF and EDP Inovação, seeking 

to develop an innovative assembly line of DSC cells. 

The innovation of this project essentially involves two 

aspects: 

• The DSC-glass cell production unit in Portugal 

• The development of an innovative cell sealing 

system. 

DSC’s or Dye-Sensitised Solar Cells, also known 

as Grätzel solar cells after their inventor, Professor 

Michael Grätzel), are an emerging photovoltaic cell 

technology that is not yet commercially available, bit 

has extremely promising potential. 

Potentially the DSC technology is more versatile, 

inexpensive and adapted to the situation of our 

country. 

This project is also categorized at PCT Energia as an 

anchor project, intended to foster the research and 

development of photovoltaic technologies. 




122

123 




We emphasise below the main projects and achievements 

of this Unit in 2009: 

Electric Mobility - Portugal 

Efacec is one of the main players in the Portuguese 

Electric Vehicle project, contributing to changing 

paradigms in relation to the new models of energy and 

environmental sustainability, it constitutes an area that 

adds multiple competencies, promoting the convergence 

of various technological areas, particularly in relation to 

electrical and electronic equipment, systems, information 

and communication systems, product engineering, and 

others. 

Porto Metro - Portugal 

Construction of the new line of the Porto metro, which 

links Estádio do Dragão to Venda Nova (Gondomar), in 

a joint project by the Porto metro and the Consortium 

formed by the companies Somague, Soares da Costa, 

Mota-Engil, Monte Adriano and Efacec. This new line, 

the fi rst to be built in the 2nd expansion phase of Porto’s 

metro network, extends over 7 km with 10 new stations, 

and inauguration scheduled for 2011. 

In the global contract, Efacec will be responsible for 

supplying all the electromechanical components, from 

the traction substations to the expansion of the existing 

control centre. 

The supply scope includes: in the energy systems: 

Por or orto to t Met M ro, o, Verde Ve Verde 

rd s s 

sstat 

tat at ation io ion i on - 

Por or ortug tug tugal 

124 

catenary, substations, lighting and electrical 

installations; in the operations support systems (OSS): 

communications, public information system, video 

surveillance, digital transmission, radio, fi re detection, 

access control and Command Centre; the road signalling 

systems; the energy telecommand network (SCADA) 

and technical supervision; the tunnel ventilation and 

pumping systems; and expansion and modernisation of 

the existing Command Centre. 

Oran and Constantine light railways - Algeria 

The Unit accomplished yet another important 

achievement in its international expansion in the area 

of advanced transport systems solutions with the recent 

signing of two contracts with ALSTOM Transport S.A. for 

the provision of systems for the Oran and Constantine 

light railways. 

The project involves two new double-track light railways 

with a total length of 27 km, and 43 stations. The 

transport service will use a total of 57 ALSTOM Citadis 

302/402 vehicles. 

This contract involves the design, supply, testing 

and start-up of the operating support system (OSS), 

embarked and central component, of the public address 

system in the stations, the Wi-Fi radio communication 

system and of the command centre for real-time 

management of the transport services of the light railway 

network in question.

Electric El ti car di display l stand t d as part t of f th the MOBI MOBI.E E project j t 

Algérie Telecom - Algeria 

The business unit, through the telecommunications and 

telematics business division, won yet another major 

international order in the area of telecommunications 

operators. The €660,000 contract is for the supply of 

1,500 pieces of multiplexing and optical transmission 

equipment, manufactured by Efacec, for the Algeria 

Telecom access network. 

In recent years, Algeria Telecom has purchased around 

4,000 pieces of network access equipment from 

Efacec to become the main customer in the area of 

telecommunications operators in the Maghreb. 

125 

São Paulo Metro - Brazil 

The expansion project for Line 2, initially called the 

Paulista Line, is in the late construction phase, ensuring 

a total capacity of 370,000 people per day on this line. 

For this process, Efacec do Brasil Energy Systems 

Automation area and the Transport Unit, working as a 

team, won the bids for the provision of the supply system 

for the traction system and automation and protection 

system of the third rail power system. This provides 

power to the train and the low-voltage system for the 

entire station. 

The project entails the detailed engineering of the energy 

system for the stations under construction, Sacomã, 

Tamanduateí and Vila Prudente, and for the Pátio de 

Tamanduateí, which will serve as a garage and workshop 

for the trains on this line. Also part of the project is 

the 138/88/22kV primary substation in Tamanduateí, 

which will provide power to the 22kV network and, once 

changed to 750Vcc, to the engines of the railway cars via 

connections from the so-called third track. 




Tenerife Metro - Spain 

In this 2nd phase Efacec was responsible for the global 

electromechanical solution. This expansion will allow the 

implementation of line 2 of the MLT (Metro Ligeiro de 

Tenerife), which will be composed by two new branches 

(La Cuesta and Tíncer) and an existing common link 

with line 1. Four new stations will be added in total. As 

per the initial project, Efacec will play a very important 

role in this new phase by managing the two contracts of 

the electromechanical component of this expansion: the 

Energy Contract (including catenary, adaptation of traction 

substations and Low Voltage network of the new stations 

) and the Systems Contract, managed jointly with the 

Spanish company IKUSI (including and road and railroad 

signalling, operating support system, communications, 

video, information to the public and ticketing). Following 

the investments made in this transport sector, and its 

responsibility in the management of contracts, Efacec 

will supply some of the most critical equipment and 

systems from its own line of products, in order to keep 

the light railway functioning: Electrical Equipment, Fleet 

Management and Vehicle Tracking System (OSS), SCADA 

Remote Units, and all the software of the control centre, 

based on the EFARAIL platform. 

Tenerife Tene ene e erif rif r e MMetro 

etr etro o - Spain 

S SSp 

126 

Luas Metro - Ireland 

This new line, with offi cial opening scheduled for May 

2011, reinforces Efacec’s presence in the Irish market. 

The fact that Efacec had the knowledge and capacity 

to win the customer’s trust, in this very demanding 

country, shows that we on track to reinforcing our 

position as key suppliers of light railway solutions. The 

supply, carried out by several of Efacec’s units, involved 

the following elements in the energy systems: catenary, 

substations, lighting, energy telecommand (SCADA) 

and electrical installations; and in signalling: operating 

support system (OSS), road traffi c management and 

railroad signalling management; and in the Information 

Systems: communications, public address system, digital 

transmission via fi bre optics and radio; and in the safety 

systems: video surveillance, fi re detection and access 

control; and command centre of the entire light railway 

network (including the existing network).

Cont Control 

Center r o 

oof 

f t he h Lua L s sM s Metr M Metro 

o - Ir Irela eland nd 

127 

Highlights 

In addition to the ID projects already in 

progress, the company started several 

strategic projects that obtained the support of QREN 

(Nacional Strategic Reference Framework) in 2009: 

PROSINAL: Development of a signalling system for 

light railways and low traffi c railway lines. In the 

scope of this project, an agreement was signed 

with Metro do Porto, S. A. for delivery of one of its 

passenger transportation lines for carrying out tests 

in a real environment. 

SMART CENTRE: Development of new modular 

functionalities for the railroad and road transport 

command centres. 

IT_EV: Development of the design of the electric 

vehicle mobility network for Portugal - MOBI.E. A 

demonstration of the possible technologies and 

services involved was given at the rollout of the 

MOBI.E network during the Recharge Portugal 

conference. 

ECORAIL: Development of solutions for utilizing 

braking energy. An agreement was also signed for 

this project with Metro do Porto, S. A., for the delivery 

of its network for tests. 

MFS/CTTB: Instruments for use in spacial applications 

of ESA (European Space Agency). 




128

129 




In 2008 the following orders and achievements of this 

Unit are singled out as the most important: 

Sonae Distribuição - Portugal 

Sonae Distribuição awarded Efacec the supply of an 

automatic transportation and pallet picking system for 

a temperature of -25ºC, to be installed at the Maia 

distribution centre, Efacec's second system performed in 

a frozen product handling and storage environment. 

This order is extremely important as Efacec had been 

looking for the chance to supply an automatic system to 

one of the largest Portuguese economic groups for several 

years, and it will enable Sonae to start to analyze new 

projects in the area of automatic picking and screening. 

Efacec's good performance in the supply of the frozen 

product warehouse at Panike in Maia was important, and 

was highly praised by the customer, enabling Efacec to 

capitalize on Sonae’s confi dence in its equipment, which 

subsequently lead to its choice of our company. 

Central Automatic Storage g System y - Portugal g 

130 

Lubango Airport - Angola 

In January 2009 Efacec was commissioned by the Spanish 

company INDRA for the provision and installation of the 

baggage handling system at Lubango Airport in Angola. 

The assignment included the supply of eight check-in 

conveyors, sundry conveyors, a sorting carousel, and 

two arrivals carousels, as well as the respective control 

and supervision system (SCADA). The supply also 

involved integration with the X-ray equipment in order 

to inspect all hold luggage, in accordance with current 

international standards. The project amounted to around 

600 thousand euros. 

Lubango Airport underwent extensive works to restore 

the infrastructure, in order to welcome the participants 

of the African Nations Championship football tournament 

that took place in January 2010, and was hosted by

Transport Systems & Automated Warehouse 

Angola. Besides building a new terminal building, the 

works also included the remodelling of runways, control 

tower, runway lighting and fl ight approach systems. 

The company in charge of the main assignment, with 

investments of over 65 million euros, was the consortium 

formed by the companies HOMT (Spanish) and Zagope 

(Andrade Gutierrez Group).” 

131 

Highlights 

In 2009 the Logistics Business Unit, proceeding with 

its strategy of providing innovative and differentiating 

solutions, maintained a high investment in Research 

& Development, which enabled it not only to conclude 

projects from the previous year with enormous 

success, but also to initiate new projects. 

Among these was the start-up of a totally automatic 

storage system for 6000kg coils based on an innovative 

storage design in multi-depth with the use of a satellite 

car for the customer ATF, from the Portucel-Soporcel 

group, in Setúbal (Portugal). The fi rst fully automatic 

storage system for frozen products - temperatures of 

-30ºC - also based on the use of a satellite car, in this 

case for pallets, was delivered to Panike. 

The logistics business unit also saw the success of its 

applications to QREN, which enabled it to start two 

extremely ambitious projects: 

• The development of a high-speed sorting system, 

based on a carousel of smart boards, using prime 

materials and state-of-the-art activation systems, 

such as linear motors and contact-free energy 

transmission. 

• The development of a robot for storage of large 

volumes using composite materials and state-of-theart 

control and viewing systems. 

These projects are considered of strategic relevance 

for the unit in its growth challenges, also following 

the trends of the distribution market –dealing with 

an increasingly higher number of major companies, 

in an individual manner and with minimum response 

times - , as they will enable signifi cant expansion of 

the range of opportunities, for customers at airports 

and distribution centres. 

At the same time, the Logistics Unit maintains an active 

presence in the technological cluster PRODUTECH, 

where it participates together with other technological 

and scientifi c partners in the Flexible Systems for 

Internal Logistics and Mobile Robotics Technologies 

projects. 




132

133 




Shared Sh S ared Services Meeting (March 2010) - Portugal 

al 

Shared Services, fundamental support for the different activities of Efacec around the world 

It is from Portugal that Efacec Management Systems 

develops its Shared Services activity, based on strategies, 

policies and practices common to the entire Group and 

which provide fundamental support for company business 

in Portugal but also for the rest of the world. 

134 

Efacec relies on an experienced and highly qualifi ed team. 

At the end of 2009 the company had 4565 employees, 

of whom more than 150 were involved with research and 

development activities. 

The company invests heavily in training and development 

bearing in mind the strategic options of the Group, its 

activities, business and private profi le of its employees.

Administrative and Financial Area 

During 2009, the fi nancial area was essentially involved 

in two projects of major importance to the group, and 

which had a considerable impact in terms of the fi nancial 

information published. 

With start-up in 2008, the process of Analytical 

Consolidation enabled the company to publish its 

consolidated accounts at the end of 2009, based on the 

analytical matrix of the group (consolidated reporting by 

Business Unit and simultaneously by Market Unit). The 

inclusion of all the group’s legal entities in ERP BaaN 

environment was also completed this year as a further 

contribution to the process. Moreover, a specifi c team was 

135 

created to provide support to the group’s international 

branches, to facilitate timely delivery of accounts and 

improve the quality of the fi nancial information published 

for the consolidation. 

An important investment was made in information 

systems (IS) in 2009, with the acquisition and 

development of a new type of software for annual budget 

execution, encompassing all of Efacec’s national and 

international entities. For the fi rst time in September/ 

October 2009, the company executed the annual 

budget for the year 2010, based on the assumption of 

consolidation by business unit and of consolidation by 

market unit (Consolidation based on the new analytical 

matrix). This tool will continue to be developed based 

on the premise of decentralisation of the annual budget 

process, also allowing its use for budget control in 2010 

and subsequent years. 

Information Systems 

During 2009, Efacec continued its process of expanding 

ERP BaaN to the international companies of the group. 

Hence in 2009, ERP began to be used by two companies 

of the group in India (CSE and ECS) as well as Efacec 

Power Transformers and Efacec USA, in the United States. 

2009 was also the year when the fi rst steps were taken 

towards improving Reliabilities, Bandwidth and Service 

Quality Assurance, improving accessibility by our 

international delegations to our private data network. 

Accordingly, international accessibility to the “Efacec 

Communications Network”, previously supported via the 

INTERNET, began to use private links in Brazil, the United 

States and Argentina that enabled the expansion of our 

VPN to those markets. 




Corporate Co C rporate Development Deve ve v lop lopmen men menttM tMeet MMeeting 

eet eeting ing ng (D (Dece (December ecemb mber 2009) - Portugal Portu rt gal 

People Management 

The number of transversal programmes, as well as 

the specifi c projects in the areas of organisational 

development and Human Resources, in a national and 

international context, increased greatly in 2009. 

Aware of the growing development of Human Resource 

Management and Communication practices in Portugal, 

the internationalisation of Efacec’s operations has been 

one of the group’s main priorities, resulting in a signifi cant 

increase in the number of international employees, both 

local and expatriate, of around 30%. An increase of more 

than 55% was also seen in the number of expatriate 

employees from Portugal for projects, technical and/ 

or management positions, and at the end of 2009, the 

Group had around 123 expatriate employees in the 

different Market Units. 

In addition to the management of these employees, the 

Human Resources Management area in international 

context supervises the local people human resources 

teams, taking part in the development and implementation 

of HR policies in the different countries, also preparing 

studies, reports and other documents to support decisionmaking 

by the heads of the various Market Units. 

To ensure more personalised and comprehensive support 

for expatriate employees, the company has reinforced its 

international tax area. 

It has also initiated the implementation of the GDD - 

performance appraisal and development management 

process for the international branches, at Efacec do 

136 

Brasil and at Efacec Algérie, hiring local human resources 

in these companies, with the direct cooperation of 

International HR, and organising training periods in 

Portugal, in the areas of Strategic Management and 

Operational Management of HR. 

The area of Human Resource Management in Portugal 

continued to be actively involved in the recruitment and 

selection process (begun in 2008) for the engineering, 

design and production specialists for the team at Efacec 

Power Transformers. The training process of these 

employees began in the USA in October 2008 and was 

held from January to December 2009 in Portugal. 

Management of Cultural Change Project 

In 2009, the company concluded its Cultural Change 

Management Project, which essentially based on four 

major project cornerstones (efaINmotion, efaEvolution, 

Meeting of International Employees and efaPI), 

coordinated by Strategic Management of Human 

Resources, aimed at helping to develop and reinforce a 

culture of internationalisation at Efacec. 

In the scope of efaINmotion, the offi cial closing sessions 

of the programme were held at Efacec’s three national 

hubs. The sessions were attended by the executive 

committee, with participation of the CEO, Mr. Luís 

Filipe Pereira, who presented the main events that 

took place in the company in 2008 and gave forecasts 

for 2009, as well as the conclusions of this project and

its repercussions for Efacec. The programme gave the 

management an opportunity to refl ect on the situation 

of the company, its past and present and, fundamentally, 

the path to be taken in the future for the achievement of 

Efacec’s strategic objectives. 

efaEvolution, targeted at non-management staff, 

was developed in the last quarter of 2008 by the 

Innovation and Human Resources Operational 

Management team, resulting in an organisational 

awareness and communication solution for the group’s 

internationalisation strategy by 2013. The goals of the 

programme included the sharing of the internationalisation 

strategy and the promotion of knowledge, attitudes and 

behaviours that support this strategy. 

A total of 118 four-hour awareness sessions took place in 

the months of November (2008), January and February 

(2009), attended by 1500 employees from Arroteia, Maia, 

Carnaxide and BCI Operating Centres. In each session, 

employee’s views of the work climate and job satisfaction 

were gathered. The Strategic Objectives of Efacec and 

its international organisation were also presented. The 

Boomerang simulation game gave employees a chance 

to learn more about the company’s various International 

Markets, its Corporate Values, History, Customers, Vision 

for the future, and business risks. The “Efacec in the 

World” panel gave everyone the opportunity to express 

their personal vision of Efacec. Employees also took part 

in identifying practical examples of the application of 

Corporate Values (“values in action”) and building their 

Individual Development Plan. 

The sessions held gathered key input and suggestions 

from employees through an organisational atmosphere 

and satisfaction questionnaire. The results of this 

questionnaire confi rmed that the employees feel 

internationalisation is an essential process for the 

137 

sustainability of the company. Opportunities for 

improvement were found in the areas of recognition and 

teamwork, revealing unique aspects in each part of the 

workplace, which will be handled by future initiatives. 

Efacec’s globalisation project and consequent growth 

in the various international markets involves the 

adoption of English as the company’s offi cial language, 

as this is considered a universal language and enables 

easier communication with the various countries where 

businesses is carried out (government organisations, 

customers, suppliers, and stakholders). It also enables 

our international employees to become more involved 

in the strategic and operational aspects of our business, 

especially in situations where employees of different 

nationalities, with different native language, are present 

(such as meetings). To achieve these goals, a transition 

project was carried out in 2008 and 2009 – project efaPI 

- to change Efacec’s offi cial language from Portuguese 

to English. 

By the end of 2009, Efacec had given training in English 

to 408 employees, 216 at management level and 192 

staff. 




Pre r sen sentat tat tation ion of t th e IDO I DO D cer c tifi ca 

ca tio tion n d ddipl 

ipl ploma p oma ma to to the th e CEO C EO E of o Efa Efacec cec eec 

Innovation and Sustainable Development 

Management of Ideas 

In September 2008 Efacec started a six-month pilot 

project as part of the Colombo programme. This 

programme was developed by a transversal Corporate 

Strategies and Innovation team of José de Mello group, 

and has been implemented in various platforms of the 

group, (José de Mello Saúde, CUF and Brisa). Colombo is 

aimed at encouraging the generation and implementation 

of ideas with a view to increasing productivity, in other 

words, doing things more quickly, more easily and/ 

or at a lower cost. It is open every employees of the 

Efacec companies. The pilot project was contributed to 

by around 300 employees, who presented 629 ideas, of 

which 164 were approved for implementation. To support 

the programme, an idea management tool was developed 

internally through the Innovation portal on the Intranet. 

Transversal actions of raising awareness and training 

were also carried out. At the end of this period, more 

than 100 employees had won prizes, and a Smart car 

was awarded to the best idea of this entire Pilot Project. 

At the end of 2009, following the resounding success of 

the programme, the company started the second edition, 

this time running for 1 year. The actions of publicizing 

and raising awareness for the Colombo idea programme 

were reinforced. 

In June the “Environment Month” initiative took place 

to promote the sharing of good environmental practices 

among the employees. Thirty ideas were presented, also 

using the Innovation portal on the Intranet. 

138 

Connection to the National Scientifi c and 

Technological System, (SCTN) 

(SCTN) 

In 2009, giving shape to its concerns in the area of 

sustained development and aware of its responsibility to 

play an active role in the scientifi c and academic sphere, 

Efacec strengthened its network of agreements with the 

universities, which currently extends to around a dozen 

institutions. 

Actions were carried out to strengthen Efacec’s ties 

with SCTN, with special emphasis on “Efacec's Day at 

the University of Minho (UM)”, aimed at the practical 

implementation of the Cooperation Agreement between 

Efacec and UM. The event took place at The UM School of 

Engineering in Guimarães and was designed show dayto-day 

reality of Efacec. In addition to a technological 

exhibition, Resumes were received from students, and 

sessions s were held to present the company’s activity and 

job j opportunities, as well as work sessions with restricted 

participation, on topics selected by Efacec, aimed at 

identifying areas of work that the two institutions have 

in common. 

Another important event was Efacec’s presence at the 

Jobshop of Instituto Superior Técnico de Lisboa (IST), 

once again aimed at publicising Efacec and its job 

opportunities. An analysis of student evaluations on the 

company shows that the features most often associated 

with Efacec are “a dynamic, growing company”, “a good 

employment opportunity”, “an international presence” 

and “a credible, renowned company”. 

As part of a project of the Automation Unit to strengthen 

ties with institutions of higher education, two initiatives 

were carried out with the cooperation of the Human 

Resources Strategic Management area: one with the 

Porto University Faculty of Engineering (FEUP) and one 

with the Porto Superior Institute of Engineering (ISEP). 

Through a class in IT Engineering, the objective was to 

present Efacec, the Business Unit, and a specifi c theme 

of interest students, as well as the job opportunities that 

exist within the company. 

In April, Efacec employees took part in a class at FEUP, 

on the theme. “Innovation and Development: A Project 

Management and Human Resources Perspective”. The 

session was attended by students of the master’s degree 

course in IT Engineering and Computing, together with 

guest teachers and researchers. 

In May, the Automation Unit once again held a class, 

at ISEP, on the topic “Web Solutions with Integration of 

Vector Graphs”. The session was attended by students 

of the Electrotechnical and Computer Engineering and IT 

Engineering degree courses, together with teachers and 

guest researchers.

One outcome of these interactions was the addenda 

to the agreement with the Univeristy of Minho, which 

resulted in the cooperation in different projects. Project 

SINUS, development of a range of active power fi lters; 

Project ECORAIL, for the development of metro braking 

energy usage solutions and SMARTCENTER, development 

of new modular functionalities for railroad and road 

transportation command centres. 

In national surveys, such as the IPCTN - National 

Scientifi c and Technological Potential Survey and CIS – 

Community Innovation Survey, both run by the Planning, 

Strategy, Evaluation and International Relations Offi ce, 

(GPEARI), of the Ministry of Science, Technology and 

Higher Education, Efacec has systematically ranked 

as one of the most innovative companies in Portugal, 

demonstrating the group’s unwavering faith in research, 

development and innovation. 

Participation in the 2nd phase of COTEC DSIE - Initiative 

for Sustained Development of Business Innovation also 

reinforces Efacec's ties with SCTN. 

In the 1st phase, now complete (2006-2008), there were 

four main projects that resulted in the availability of a 

set of models and tools, namely the fi rst Portuguese 

Standards for Research, Development and Innovation 

Management (RDI), the Innovation Scoring System 

for self-assessment of innovation and the RDI Activity 

Identifi cation and Rating Guide, as well as its pilot 

application at fi fteen companies. 

The 2nd phase (2008-2010), was aimed chiefl y at the 

expansion of the free use of the above mentioned 

instruments to about 650 companies in Portugal, and 

the internationalisation of the innovation scoring system, 

and the regulatory framework on RDI management 

(NP4456:2007, NP4457:2007, NP4458:2007 and 

NP4461:2007). 

139 

As part of these actions Efacec's participation has 

focused on its mission of boosting the implementation 

and certifi cation of RDI management systems, and 

designing tools to support and facilitate companies in 

SGRDI certifi cation. 

The goals of guaranteeing the conception of elements 

to raise awareness of companies in relation to the 

implementation and certifi cation of the RDI management 

systems, in accordance with NP4457, were achieved 

through the creation of an explanatory guide to the 

RDI regulatory benchmark, a Manual of Good Practices, 

and a document of Questions and Answers on the 

implementation of an SGRDI, in accordance with the 

requirements of NP4457:2007). 

Innovation Management 

In terms of Innovation Management, the certifi cations 

of the RDI management system in the Switchgear Unit 

and Efacec Sistemas de Electrónica were maintained with 

zero non-conformities, the application of the Innovation 

Scoring tool being a determining factor for identifying 

not only the strong points, but also the areas needing 

improvement, and support for defi ning future strategies. 

The applicability of the Knowledge Management System 

recommended by the RDI Management System, 

IDIoteca, was consolidated. On a daily basis, employees 

from all areas of Efacec query and/or provide information 

that is relevant for their jobs. The company’s presence 

at associations, trade fairs, seminars, training programs 

and other events, the registered patents and trademarks, 

key market studies, and agreements and partnerships 

established, are just part of the vast information 

accessible to all employees. 




Visit to the new power transformer plant in inEffingham Effi ngham - -USA 

USA 

Public Recognition 

The year 2009 once again provided fertile ground 

for public acknowledgments. All this is proof that the 

contribution of Efacec’s activities is recognized by society 

in general. 

In June, Efacec ranked third in the Sustainable 

Development Award organised by the consulting fi rm 

Heidrick & Struggles. The award was received by Efacec’s 

CEO, Luís Filipe Pereira. In all, two hundred candidates 

entered the competition; the twenty-fi ve best placed 

companies receiving a diploma, while the fi rst fi ve places 

also received a special prize. The fi ve winners, from 

fi rst to fi fth, were BES, Portugal Telecom, Efacec, BCP 

and BP Portugal. The criteria used in this award were 

based on the practical application of the triple bottom 

line management philosophy that analyses sustainability 

according to three dimensions. social, environmental and 

management. 

In June Efacec once more appeared in the limelight, 

receiving an honourable mention in the 2nd edition of 

the Innovation Product Award, promoted by COTEC and 

Unicer. The Cotec Award’s main purpose is to publicly 

recognise and promote innovative products (goods or 

services) or product families developed by domestic 

or international companies, of any size, operating 

in Portugal. Efacec presented an application with its 

SmartGate solution, developed by the Automation 

140 

Unit. Mr. Luís Filipe Pereira Efacec's CEO received the 

honourable mention, which was presented by the 

Portuguese President Aníbal Cavaco Silva. 

Efacec also submitted an application with the Efacec 

Automação e Robótica, which gained an honourable 

place on the shortlist for the award. 

Finally, in November, at Palácio de Congressos de 

Riojaforum, in Logrono (Spain), Iberdrola presented 

Efacec with its VIII Supplier of the Year Award in the 

area of Sustainability. During the course of the event, 

Iberdrola reiterated, with the award of this honour, its 

goal of encouraging sustainable development, quality 

and respect for the environment, and the prevention 

of occupational accidents in the business management 

of its suppliers, who are selected based on their 

commitment to the above mentioned factors, and on the 

technical and productive capacity demonstrated. It also 

revealed the international nature of this award, which 

is granted to companies selected from among all the 

Iberdrola suppliers at international level. It also stressed 

the decisive contribution made by the award winners, 

to Iberdrola’s position as one of the top fi ve electricity 

companies at worldwide level.

Most relevant Corporate facts in 2009 

In 2009, Efacec made signifi cant advances in the 

fulfi lment of its strategic objectives of growth in the 

international market and consolidation of the national 

market, through countless achievements, with special 

emphasis on: 

• The continuation of the construction activities of Efacec 

Power Transformers Inc. (PTInc.), Efacec’s power 

transformer plant situated in Effi ngham (Georgia- 

USA), the largest project in the company’s history. 

With an overall investment of around 180 Million USD, 

the plant, for which the groundbreaking ceremony 

took place on 25 September, 2008, was concluded at 

the end of the year 2009 with beginning of operations 

in November of the same year. 

• The continuation of the process necessary to extend 

Efacec’s operations to the markets selected as priority 

markets for the company, particularly as regards the 

future presence of the Renewables business in the 

USA and Transformer business in India. 

• There were also new developments in India in the 

area of logistics activity, with the acquisition of the 

majority shareholding Godrej, by Gearl - Logistics, 

with Efacec now holding 51% of the Joint Venture. 

• Also in the international arena, the strengthening 

of Financial Management and Human Resources 

Management strategies, policies and practices in the 

141 

international subsidiaries and support to expatriate 

employees of Efacec, as well as the implementation of 

the BaaN ERP in the India Market Unit. Certifi cations 

were also obtained for the quality management 

systems of Efacec Sistemas in Spain, for the Servicing 

Unit and for the quality management system of Efacec 

Central Europe and Efacec Contracting Central Europe. 

• The creation, at corporate level, of a Strategic 

Procurement Management Area, with the appointment 

of a CPO (Chief Procurement Offi cer), one of several 

steps taken to boost Efacec’s competitiveness. This 

area will be responsible for defi ning strategies and 

processes in this scope and will develop a global 

intervention across the whole Efacec group, operating 

in an integrated way, with the different purchasing 

departments of Efacec’s Business and Market units, 

which will report to it functionally. 

• Likewise, the essential steps for the creation at 

the corporate level of an area of Strategic Risk 

Management were taken in the second half of 2009, 

with the appointment of a CRO (Chief Risk Offi cer). 

• The conclusion of the efaINmotion (targeting 

management staff) and efaEvolution (targeting nonmanagement 

staff) projects, both cornerstones of 

the cultural change project developed in 2008, which 

essentially aimed to reinforce and accelerate Efacec’s 




17 117 March 2010 - Team from the new powe power ow rtran transformer ansfo sforme r rplan plant a ti t in nt n the he h USA UUSA 

cultural change process, is based on standards 

considered relevant for the global market. EfaINmotion 

was concluded with the performance of three offi cial 

closing sessions held in January 2009, at each one of 

the hubs of Arroteia, Carnaxide and Maia, conducted 

by the CEO of Efacec, Mr. Luís Filipe Pereira, with the 

presence of the Executive Committee. 

• The presence of Efacec in the technical consortium for 

electric mobility in Portugal. Due to the mobilisation 

efforts of the domestic industry in this area, benefi ting 

from government institutional support, the technical 

support of EDP Inovação, and the coordination 

of INTELI –Efacec, CEIIA, Critical Software and 

Novabase have taken the initiative of establishing a 

framework for the development and deployment of 

a complete solution for an electric mobility supply 

and support infrastructure that is 100% portuguese. 

From the loading points (slow and quick) and their 

intelligent interaction with the electrical network, to 

the advanced combined communication, management 

142 

and billing systems, the entire system was developed 

with a focus on the citizen, systematically integrating 

economic, energy and environmental aspects 

associated with mobility of each user. 

• Achieving third place in the Sustainable Development 

Award 2009, awarded by Heidrick & Struggles. Efacec 

was placed among the top fi ve companies awarded the 

prize, out of a total of 200 organisations in competition. 

The selection of winning candidates (BES, Portugal 

Telecom, Efacec, BCP and BP Portugal) was based on 

the triple bottom line management philosophy, which 

analyses sustainability based on three aspects: social, 

environmental and management. The applications 

were analyzed by an advisory committee that 

included representatives from the business sector and 

the academic world. This was the fi rst time Efacec 

participated in the award, obtaining 84.6% against 

a multinational average of 81.2% (the category in 

which Efacec was included). 

•

• The distinction, with an honourable mention, in the 

second edition of the Innovation Product Award, 

organised by COTEC and Unicer. During the ceremony 

held on 3 June, 2009, Efacec received an honourable 

mention, presented by the Portuguese President, 

Mr. Aníbal Cavaco Silva, as a result of its application 

with a solution developed by its Automation Unit, 

SmartGate. This solution is a LV/MV Transformer 

Substation controller and it is one of the many Efacec 

solutions helping to reduce the carbon footprint. 

• The winning of the Premio Suministradores Iberdrola 

2009 (Iberdola Supplier of the Year Award) for 

the category Corporate Social Responsibility, an 

achievement that was announced by the quality and 

environment management of Iberdrola. 

• The achievement of RDI certifi cation according 

to NP4457:200, by the High and Medium-Voltage 

Switchgear Business Unit. Managing Research, 

Development and Innovation, present in aspects of the 

product, process, marketing and organisational areas, 

143 

was the challenge launched to the R&D, marketing 

and planning teams, supported by the innovation 

team. Encouraged by the diversity of RDI projects and 

by the excellent performance in the establishment of 

interfaces (surveillance and technological cooperation, 

internal and external analysis, intellectual property 

and knowledge management), the team systematised 

the practices and the procedures of knowledge 

management and the RDI projects. 

• The choice of Efacec as the company for the 

Business Case Competition 2009 of Lisbon MBA, 

a joint programme of the economics schools of 

the Universidade Nova de Lisboa and of school of 

Economics Business Sciences of the Universidade 

Católica Portuguesa, in cooperation with the MIT 

Sloan School of Management. 

• The certifi cation of the quality, environment and 

safety management system of the Renewables Unit 

and the certifi cation of the environmental and safety 

management system of the Transformers Unit. 




Getting to know Efacec programme - Maia 

• The visit of the EDF - Electricité de France R&D to 

Efacec by the Automation Unit, situated in the Maia 

hub, as well as two major customers of Efacec in 

the area of substation automation. EDF R&D is the 

research and development unit of the French group 

EDF, one of the European leaders in the area of energy, 

operating in the fi eld of electricity and gas. The EDF 

R&D delegation travelled to REN’s Fanhões substation, 

and to EDP’s Quinta do Conde substation, both of 

which have automation systems, with integration of 

numerical protections, in compliance with standard 

CEI 61850, all supplied by Efacec. 

• The Colombo Ideas Award ceremony, for the fi rst 

quarter of 2009. Besides the award for approved 

ideas, Efacec employees whose ideas were approved 

up to 15 December, 2008 also qualifi ed to compete for 

the quarterly awards: Most Ideas Approved and Best 

Idea. The existence at Efacec of an idea management 

methodology like that of Colombo enables the company 

to come into contact with the most innovative ideas in 

the world at present. 

144 

• Efacec celebrated its sixtieth anniversary in 2008. 

In order to mark a very important date in the life 

of the company, Efacec took the necessary steps to 

publish, at the beginning of 2009, a book that shows 

its development and which speaks of the fundamental 

milestones of its 60 years of existence. This book 

describes the fi rst fi ve decades (the object of a 

previous publication) and specially highlights the facts 

and events of the last ten years which were greatly 

marked for the competitive conditions of the company 

and for its future development, in Portugal and in the 

international markets.

Acknowledgments 

2009 was yet another year of important achievements 

in the sustained fulfi lment of Efacec’s targets growth, to 

which we add, as a constant concern, the satisfaction of 

our stakeholders. 

We therefore express our gratitude to the shareholders 

of Efacec, José de Mello and Têxtil Manuel Gonçalves 

Groups, for their unequivocal support to the projects 

developed in 2009, and to our growth and development 

strategy. 

We are also particularly grateful to our customers, 

suppliers and fi nancers for the preference and confi dence 

shown in 2009. 

To our employees, partners par excellence in our 

company, and the main factors in the success of Efacec’s 

performance and the sustained building of its future, we 

are deeply grateful for all the determination, dedication, 

competence and efforts that you demonstrated, once 

again, in 2009. 

For our employees who carry out their activities on the 

international market we extend our special thanks for 

their entrepreneurial spirit, high sense of responsibility 

The COTEC Awarded is handed over by the Portuguese President to th the CEO of 

f Ef Efacec 

145 

and unconditional support for the growth of Efacec 

beyond borders. We emphasise here, and particularly 

with respect to the year 2009, the excellent work 

developed by the team of employees, both Portuguese 

and Americans, of the new Efacec Power Transformers 

Inc. and all those who contributed to making it possible, 

in just two years, to go from the signing of the contract 

executed with the State of Georgia, at the end of 2007, 

to the beginning of operations of this new plant, at the 

end of 2009. 

Our thanks also go to Public and Local government 

entities for the way in which they have worked with and 

supported Efacec in 2009. 

To the Board of the General Shareholders' Meeting 

and the Supervisory Board we also wish to extend our 

appreciation and thanks for all their competence and 

commitment in the performance of their respective 

functions. 

Once again we state that our achievements in 2009 

would not have been possible without the support of all 

partners who are at the centre of Efacec’s concern! 




Proposal for the Appropriation of 

Profi t 

The Board of Directors proposes that the individual Net 

Income of the year 2009 of EFacec Capital, SGPS, S.A., 

totalling € 20,165,857.25, be invested as follows: 

Legal Reserve € 1.008.300,00 

Free Reserves € 3.257.557,23 

Dividends € 15.900.000,02 

Leça do Balio, 25.03.2010 

Board of Directors 

Mr. Francisco de la Fuente Sánchez 

Mr. Luís Filipe da Conceição Pereira 

Mr. Alberto Joaquim Milheiro Barbosa 

Mr. Alberto de Freitas Martins 

Mr. Artur Fuchs 

Ms. Maria do Rosário Mayoral Robles Machado Simões Ventura 

Mr. António do Pranto Nogueira Leite 

Mr. Daniel Bessa Fernandes Coelho 

Mr. João Afonso Ramalho Sopas Pereira Bento 

Mr. José de Morais Cabral 

Mr. Luís Miguel Nogueira Freire Cortes Martins 

146

147

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