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10/17/2013 - GOOD PROSPECTS FOR FAGOR ARRASATE IN 2013-2014

José María Balzategui, CEO of FAGOR ARRASATE, confirms that the company continues to strengthen its international position with positive expectations.

In his management report, J.M. Balzategui, CEO of Fagor Arrasate, confirmed that the company's successful progress in recent years is set to continue in 2013 and that the evolution of new orders in this period placed to date bodes well for activity in 2014.

He went on to indicate that with over 2 months to go until the end of the financial year, sales are forecast to approach 294 million Euros, constituting a 16% growth over the previous year, a success that is due to the achievements of the parent company, Fagor Arrasate S. Coop. as well of those of the factory in China, Fagor Metalforming Machine Tool Kunshan.

Employment, one of Fagor Arrasate's trademarks, is also maintaining a positive trajectory in 2013, with 790 people now a part of Fagor Arrasate. One should also add to this figure the 50 people who up until recently were part of Onapres and who, by virtue of the merger process approved by both companies in May this year, are now part of the Fagor Arrasate family.

We have continued to reinforce our financial stability with commitments from several financial institutions in 2013, that will enable us to continue implementing our investment plan for the 2013-2016 period, as decided last year.

During 2013, Fagor Arrasate received new orders for 2014 from customers as important as Ford, Acerinox, Great Wall, Erdemir, Gonvarri, Baosteel, Novelis, etc. confirming that our commitment to continue as one of the strongest companies in the forming machine tool sector worldwide is in very good health.

Sadly, it cannot be said that the long crisis affecting the global market has come to an end and it is true that there will be further uncertainty and fluctuation, but Fagor Arrasate's strong international position, with over 90% of our sales going overseas, a growing team of people and a strong commitment to the current socio-commercial project, constitutes firm foundations for the near future.
 

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