Critical invests 3 million euros in new company

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(Corrected) Critical Software will create a new company in the area of ​​information technology solutions for advanced production systems. Critical Manufacturing, whose spin-off is being designed for about a year, will involve an investment of three million euros over three years.

Critical Software will be the reference shareholder, with technology explaining in a statement that «the project has a core promoter at the level of top management with high international experience in advanced production systems.

The investment plan also provides for the possibility of resorting to venture capital partners, «with entities already interested in Germany and Portugal», he emphasizes.

The new company will operate from Porto, with offices in other countries in central Europe and Asia being planned. In the short term, it will allow the creation of 30 new highly qualified jobs.

Critical Manufacturing’s business plan foresees a sales volume of around five million euros in three years, «being subject to a downward revision given the current difficult economic situation», the parent company emphasizes in a statement.

Critical has been pursuing a strategy of specialization by sector of its offer of solutions oriented to critical systems, with Critical Manufacturing being another stage in a plan to create «spin-offs» that saw the birth of Critical Links, Critical Materials and Critical Health.

Editorial note: The original headline of this news item, «Critical invests 3 billion euros in a new company» had a typo corrected in the meantime. Critical’s investment in the spin off will be three million euros and not three billion, as previously stated.