Fagor Arrasate and Onapres merge

Industry

Design and construction of Presses and Stamping Systems.

Hydraulic presses.

Fagor Arrasate S.Coop.and Onapres S.Coop., both belonging to the Mondragon Corporation, are pleased to announce the full merge of their activities creating together the Company worldwide with the broadest catalogue of solutions for the sheet metal forming and processing sectors. Following the proper and legal time schedule, Onapres will be absorbed by Fagor Arrasate. As a consequence the merged Company will become the biggest company of forming machine-tools in terms of solutions, with almost 800 employees, seven factories worldwide and a consolidated turn-over of more than 300 million euro what also locates the Company as one of the biggest size in Europe in all kind of machine-tools and the second one in stamping systems.

May 15, 2013

Fagor Arrasate is a world leader in the design, manufacturing and supply of presses and stamping systems, metal cutting and processing lines as well as special equipment for manufacturing sheet metal complex parts. Onapres, in the other hand, has been a referring supplier for more than 50 years in the design and manufacturing of all kind of hydraulic presses, as try-out presses, production presses, die-spotting presses, press-hardening, SMC and composites manufacturing and Forging machines.

Both Companies have been collaborating already during the past years attending to the evident synergy in product portfolio and customers, especially in the automotive sector with references in clients as important as Volkswagen, Ford, Audi, General Motors, Gestamp, Benteler, Ogihara, PSA, Volvo, etc.

A member of the Company said that “We are creating a global partner for our Customers in the Automotive Sector, a partner able to offer complete and integrated solutions, a Company that can install equipment of any type; for processing any material needed for the parts, both in metal and composites; with every technology, whatever is mechanic or hydraulic; with an integrated and in-house product portfolio what guarantees indisputable advantages regarding quality, productivity, business strength, technology and efficiency in commissioning”.

Merge will be made through the scheme of merge by absorptionwith terms unanimouslyapproved by the Boards of both Companies and massively endorsed by the General Members Meetings. Both Companies already share an equal business culture and same values, expecting significant synergies in terms of productivity, service to Customers, Technological Development and competitiveness.

“This merge means a strategic move to propose more added value to our Customers. We are really sure that this merge will increase also our competitive advantage in sales, technology, R&D and Service, improving greatly our already close relationships with Customers and Suppliers. Unifying complementary offers in a single catalogue, we can provide the automotive sector with solutions more advanced and complete. Conversations already had with our Customers show that they evaluate very positively this merge” – said a Director of Fagor Arrasate.