2003 Annual Report - Mondragon Corporation€¦ · Eskola Politeknikoa, Politeknika Ikastegia...

2003 Annual Report

Contents

Highlights 5

Message from the President 6

FINANCIAL GROUP 9• Caja Laboral 12

• Lagun-Aro 14

• Seguros Lagun-Aro 15

INDUSTRIAL GROUP 17• Automotive 20

• Components 21

• Construction 22

• Industrial Equipment 23

• Household Goods 24

• Engineering and Capital Goods 25

• Machine Tools 26

DISTRIBUTION GROUP 27• Eroski Group 28

• Erkop 31

RESEARCH, TRAINING AND EDUCATION 33• Research Centres 34

• Training and Education Centres 37

Financial Statements and Trading Account 42

Employment at the MCC 46• The MCC in Spain 46

• The MCC worldwide 47

Organisational Structure 48

Social and Management Bodies 49

List of MCC Companies 50

3

Certificates and Awards

n 2003, the MCC won a high number of outside awards in the management field. FagorElectrodomésticos won the Prince Philip of Asturias Prize for Business Excellence in

Internationalisation. The same company’s cooking appliance business was a finalist for the EFQMEuropean Prize for Business Excellence and seven of our organisations were awarded the Silver Q byEuskalit, after scoring more than 400 points in an assessment based on the EFQM criteria.

Of the seven award-winning organisations, two are in the industrial area, Soraluce and FagorElectrodomésticos Washing Appliances; one in the service sector (insurance) - Seguros Lagun Aro – andfour in the educational field: Mondragon Goi Eskola Politeknikoa, Politeknika Ikastegia Txorierri, Lea ArtibaiIkastetxea and Ahizke-CIM.

Moreover, five co-operatives were awarded ISO 14.000 Environmental Certification and another fourjoined the European Eco-Management and Audit Scheme (EMAS) register. Eroski became the first MCC co-operative to be awarded SA 8000 Certification for Social Responsibility.

The table of awards, certificates and prizes for Quality and Business Excellence at the MCC was as followsat 31 December 2003:

1 European Prize for Business Excellence won by Irizar.ing Appliances

3 Gold Qs: Caja Laboral, Copreci and Fagor Cooking Appliances.12 Silver Qs: Fagor Electrónica, Orkli, Eroski PGM, Fagor Minidomésticos, Ulma Packaging,

Soraluce, Fagor Electrodomésticos Washing Appliances, Seguros Lagun Aro, Mondragon Goi Eskola Politeknikoa, Politeknika Ikastegia Txorierri, Lea Artibai Ikastetxea and CIM.

4 EMAS registrations: Danobat, Fagor Ederlan, Fagor Electrodomésticos and Maier.1 SA 8000 Certificate for Social Responsibility achieved by Eroski.

33 ISO 14000 Environmental Certifications101 ISO 9000 Quality Certificates

I

★★

★★

★★

★

★★★

★★

★★

E R - 1 9 3 / 1 / 9 4

4

Highlights

Total Sales

International Sales

Resources under Administration*

Equity

Investment

Results

Personnel

8,106

2,165

7,891

2,688

872

335

60,200

9,655

2,551

9,247

3,281

847

410

68,260

9,232

2,455

8,474

3,102

683

370

66,558

2001 2002 2003

* Caja Laboral

In millions of euros

5

n a year characterised by modest economic growth at the world level, stagna-

tion in the main European countries making up our Corporation’s natural mar-

ket and the high level of parity of the euro that affected our exports in the dollar zone,

our sales increased by 4.6%, once the income from the Consum co-operative had

been deducted. Profits were 11% higher than last year.

In the financial area, activity was marked by a highly competitive environment and

the recovery of the stock markets, which had been heavily penalised over the pre-

vious three years. In addition to the good performance of Caja Laboral’s normal ban-

king business, with a 9.1% increase in assets under administration, the securities

portfolio made its contribution, with a very satisfactory year, in which the profit befo-

re tax increased by 8.7% compared to last year.

The industrial area also had a good tear in general terms, with growth of more than

8%. The automotive and construction areas were the most dynamic. However, the

general fall in demand for capital goods had a very negative effect on the machine

tool activity, with significant falls in both turnover and orders won. On the interna-

tional stage, sales increased by 4.5% in spite of the general stagnation in the mar-

kets. As for expansion abroad, Danobat took over the British company Newall and

Copreci started production in Turkey. At the end of the year, the MCC had 38 plants

abroad.

In the distribution area, we continued to open new stores. We consolidated the inte-

gration of the Balearic Island company Mercat into the Group and completed the

year with a turnover higher than last year, in spite of the Consum co-operative lea-

ving the Group. Likewise, Eroski’s commitment to society led to the company obtai-

ning the SA 8000 Certificate for Social Responsibility. It was the first retail firm in

Spain and the second in Europe to do so.

In terms of awards for Management Quality, we had an excellent year. Fagor Elec-

trodomésticos won the Prince Philip of Asturias Prize for Business Excellence for its

internationalisation strategy and Fagor Cooking Appliances was a finalist for the

European Prize for Business Excellence. Seven of our organisations in the industrial,

educational and financial services fields achieved the Silver Q for Quality, after sco-

ring more than 400 points in an assessment based on the EFQM criteria.

I

6

In the training and education area, our education centres and especially our Univer-

sity continued to extend their offer and promote new initiatives, like the inauguration

of the new campus in Irún for business management. Likewise, innovation continued

to play a key role, with the management of projects from the Science and Technology

Plan, the consolidation of Aotek and Orona eic Company Technology Centres and

the launch of new ones like Edertek, Koniker and Lortek

In the institutional sphere I would like to express my satisfaction about how well the

“Subordinate Financial Contributions” have been received in the capital market. We

interpret this success as a clear expression of investor trust in the management of our

businesses. We are sincerely grateful for this and aim to respond with enthusiasm

and efficiency.

I would like to conclude this message with a reference to our commitments in sup-

port of the community and to social responsibility, which has been one of the iden-

tifying features of our Corporation since it was set up. In addition to creating

employment and wealth for the com-

munities in which our companies are

based and taking care of the envi-

ronment, our co-operatives earmark

10% of their profits for projects of a

social nature.

In 2003 we dedicated 38 million

euros in support of educational pro-

jects at the university level and for

vocational training, as well as in the

research field. We also provide finan-

cial aid for numerous cultural activi-

ties. We support development pro-

jects in the Third World and subsidise

programmes and bodies dedicated to

social integration, help for the handi-

capped, looking after old people,

reinsertion of drug addicts, etc.Jesús CataniaPresident of the General Council

7

8

Financial GroupFinancial Group

9

Financial Group Financial Group

he performance of thefinancial sector in 2003

was marked by a continuation inthe fall in interest rates to historicminimum levels and the recoveryof the securities market, heavilypunished during the three pre-vious years.

This situation has had two conse-quences for the MCC’s FinancialGroup. On the one hand, a tigh-tening of the differential marginwith clients; an obstacle that hasbeen overcome by increasing thevolume of assets under adminis-tration, and on the other, theimprovement in the results fromfinancial operations thanks to thepositive contribution of the securi-ties portfolios. In short it can besaid that this Group had a satis-factory year, in terms of bothachieving its profitability targetsand growth in turnover.

In 2003, the fulfilment of theBasic Corporate Objectives canbe summarised as follows:

Customer Satisfaction. In thequality field, work has continuedon the improvement actions selec-ted after the internal and externalassessments carried out. A boosthas been given to knowledgemanagement and the review ofthe process policy, as part of thenew Strategic Plan. It is worthhighlighting that Seguros LagunAro was awarded the Silver Q byEuskalit, after scoring more than400 points in an EFQM assess-ment.

In terms of business activity, pro-gress has been made on theimplementation of the client-com-pany Management Model and toimprove service for this segmentthree new mixed branches havebeen established in Burgos, Leónand Valladolid. In RemoteBanking, Caja Laboral now hasmore than 116,000 active clientsusing the telephone and Internetbanking services, with more than13,000 companies operatingwith Caja Laboral Net, throughwhich more than 5 million trans-actions were carried out over theyear. Other client services thatstand out are automated pay-ments and collections by meansof electronic files (11 million ope-rations in 2003, which is a 20%increase) and sending clientscorrespondence in electronic ins-tead of hard copy format.

Profitability. In banking, thefall in interest rates squeezed netinterest income. In spite of this,the increase in turnover, theimprovement in the results fromfinancial operations and the con-tainment of administration costs inrelation to the operating incomeachieved, as shown by an exce-llent efficiency ratio of 41.7%, ledto an improvement in the profita-bility for the year, with an 8.7%increase in profit before tax.

The positive management ofLagun-Aro’s investment portfolioshould also be highlighted, whichrecorded a net return of 6.71%,which is clearly higher than the

4.49% obtained on average bythe pension funds as a whole inthe domestic market. SegurosLagun Aro also performed verywell, achieving the best results inits history (12.2 million eurosbefore tax, which is 25% higherthan the figure posted in 2002).

Internationalisation. CajaLaboral is the only company inthis Group that carries out activi-ties on the international stage,backed by an extensive networkof foreign correspondents.

The volume of foreign commercialtransactions in 2003 recorded amoderate 1% increase, as a resultof the slowdown in internationaltrade in Europe, accounting foran overall total of 2,023 millioneuros. 65% of this figure wasfrom business from the co-operati-ves and the remaining 35% fromother business clients. During theyear, the network of foreigncorrespondents continued to bestrengthened, with the incorpora-tion of 60 new institutions, to forman extensive network that enablesinternational operations to bedealt with efficiently.

Development. This Group’s tur-nover continued its upward trendin 2003, with total client assetsunder administration recording9.1% growth and bank inves-tment a 22.7% increase. Thecapitalisation of the results achie-ved continued to reinforce CajaLaboral’s net worth soundness,taking equity to 1,043 million

T

10

euros, which is an increase of6.6%. Lagun-Aro’s funds stood at2,766 million euros, which is anincrease of 8.5%.

It should also be highlighted thatin 2003, 14 new branches wereopened, 12 in Castilla-León andZaragoza, taking the total num-ber of branches to 336. This hasmeant that the client base hasincreased by 52,000 people,taking the total to 1,039,000people. As for Lagun-Aro, it has anew record number of members(28,204), beneficiaries (52,835)and pensioners (6,523).

Innovation. As far as banking isconcerned, some new aspectswere the search for commercialinnovation, with a system of pilottests of limited scope and the startup of original commercial initiati-ves. Specific budgets and timewere set aside for this, with infor-mation, assessment and recogni-tion requirements that will enablethe successful initiatives to beextended to other areas.

In the insurance field, two newproducts were developed for hou-sehold economies: Lagun AroHogar Optima and Lagun AroHogar Exclusiva. In the healtharea, the new Lagun Aro SaludVital scheme was added to therange

Social Responsibility. As faras training is concerned, 265courses were given at CajaLaboral in 2003, with a total of72,817 teaching hours, whichwere given to 10,731 partici-pants. A number of different pro-motion courses were also organi-sed, with 948 members participa-ting. Aid was also given for com-plementary studies. Overall, 63%of the total workforce took part insome sort of training activity.

It is also worth highlighting that in2003, 7.9 million euros fromCaja Laboral’s Education andPromotion Fund were also ear-marked for co-operative trainingand promotion, research and cul-tural and health service activities.

Among the aspects relating toLagun-Aro, it should be stressedthat in terms of Employment Aidlast year, a definitive solution wasfound for 17 members who werewithout work. In the economicfield, the reserve fund created forpossible future employment aidneeds was reinforce to accountfor the significant total of 46million euros. �

Juan María OtaeguiMCC Vice-president

Chief Executive - Financial Group

11

CAJA LABORALSdad. Coop. de Crédito

aja Laboral is a financialinstitution set up by the

industrial co-operatives. From thestart it has played an active partin the development of the co-ope-rative movement, by funding andpromoting new activities, havingplayed a key role in the shapingand cohesion of what is todaythe Mondragón CorporaciónCooperativa.

2003 was a positive year for thefinancial sector. In spite of inte-rest rates continuing to fall, thevariable income markets recove-red, thereby eliminating a distor-ting factor that had been affec-ting the sector over the last fewyears. As far as Caja Laboral isconcerned, it was a satisfactoryyear, in terms of achieving itsprofitability targets as well as theincrease in turnover and a goodcost control policy.

The total assets on its balance

sheet stood at 9,787 millioneuros at the end of the year,which was an increase of 6.2%compared to 2002.

Total client assets under adminis-tration accounted for 9,247million euros at the end of theyear, an annual increase of9.1%. Contrary to what has hap-pened in previous years, clients’savings were mainly channelledinto products managed off the

balance sheet, such as unit trusts,and pension and welfare plans,which grew by 30.5% in overallterms. For their part, the assetsincluded on the balance sheet,which include sight and termdeposits, as well as the promis-sory notes issued, recorded anincrease of 6.9% compared to2002.

Equity continued to increase,reinforced by the profitability

Assets under AdministrationIn millions of euros

Bank InvestmentIn millions of euros

2002

6,084

2003

7,465

2001

5,163

EquityIn millions of euros

12

2002

978

2003

1,043

2001

913

2002

8,474

2003

9,247

2001

7,891

C

obtained and the demandingprofit capitalisation policy, tostand at 1,043 million euros. Inaccordance with Bank of Spainregulations, the institution’s capi-tal adequacy ratio was 14.8%,well above the minimum require-ment of 8%.

As far as lending is concerned,bank investment rose by 22.7%.The integration of the Aroleasingsubsidiary in Caja Laboral’sbalance sheet made a considera-ble contribution, taking the totalbalance of the heading to 7,465million euros. Mortgage loanscontinued to be the most dynamicitem, with an annual increase of976 million euros (21.5%). Thisitem now accounts for 75% of allloans granted to the private sec-tor.

The gross investment of the secu-rities portfolio, consisting of fixedand variable income securities,as well as holdings in group com-panies, fell to 1,198 millioneuros, which is 18.4% lowerthan in 2002. This was applica-ble to practically all items,although it was took placemainly in monetary assets andpublic funds.

In terms of the profitability obtai-ned, normal banking businessperformed satisfactorily, asalthough the fall in interest ratessqueezed net interest income,commission and, above all, thegood results from financial ope-rations led to an operating inco-me 12.7% higher than in 2002.Therefore, although the transfersto the provision for loan lossesincreased significantly to reachthe maximum limit required bythe Bank of Spain, the net profitsfor the year were 103 millioneuros, which was 3.4% higherthan in 2002.

In this regard it is worth highligh-ting that the net returns obtainedby Caja Laboral over its averagetotal assets was 1.10% in 2003,which is a very good ratio if com-pared to the average for the sec-tor. �

13

14

LAGUN AROProvident Society

he members of the Lagun-Aro Provident Society are

mainly members of co-operativesforming part of the MondragónCorporación Cooperativa. Lagun-Aro provides social cover forthese people and their beneficia-ries, similar in scope to the Statesystem.

At 31 December 2003, therewere 28,204 members in 113co-operatives, which is a netincrease of 1,002 people. 45%of the new members correspondto the new modes of contributionfor Limited Duration and SpecialQuota members.

As far as pro rata benefits areconcerned, which cover short-term benefits, these totalled 54.8million euros in 2003, mainly inthe following areas:

• Sick Leave, 29.4 million euros(54% of the total)

• Health Care, 21.3 million euros(39% of the total).

As in recent years, it is worthhighlighting employment aid, asits cost totalled 1.2 million euros,with a surplus of 6.4 million eurosgenerated. This amount, added tothe 39.6 million euros from2002, means that there is now apositive balance of 46 millioneuros.

The benefits for Retirement,Widowhood and Invalidity,which have to be guaranteed forlong periods of time and for alarge number of members, arefinanced by reserves to guaran-tee the relevant pensions. This

enabled 56.2 million euros to bepaid out in 2003. At the end ofthe year, there were 6,523 peo-ple receiving pensions.

These benefits are guaranteed byLagun Aro’s funds, which at theend of 2003 totalled 2,766million euros, once the returns onthe investment portfolio had beenapplied. Unlike the previous year,the good performance of thesecurities markets had a verypositive effect on the performanceof the investment portfolio. Incomparison with the close of2002, the fund has increased by218 million euros, which is 8.5%in relative terms. �

T

FundsIn millions of euros

2002

2,549

2003

2,766

2001

2,425

15

SEGUROS LAGUN ARO

003 was a very importantyear for Seguros Lagun Aro,

as it became the first insurancecompany to obtain the Silver Q,an ward for management qualitygiven by the Basque Government,though Euskalit, the BasqueFoundation for Quality, after anassessment based on the EFQMModel for Excellence.

Seguros Lagun Aro is now a mem-ber of the 400 Club, created byEuskalit as a joint forum of lear-ning for the most advanced orga-nisations in terms of manage-ment.

As far as its economic performan-ce is concerned, Seguros LagunAro posted a total income of 182million euros in 2003, which is9% higher than in 2002.

The income obtained from insu-rance premiums totalled 142million euros, which was an incre-ase of 20.5%. In terms of compa-nies, Seguros Lagun Aro accoun-ted for 92 million euros, a 9.7%increase compared to 2002,Seguros Lagun Aro Vida accoun-ted for 50 million euros, an incre-ase of 47.6%.

Moreover, the positive performan-ce of the stock markets, compa-red to the poor performance in2002, meant that the financialinvestments resulted in higherreturns than expected.

The range of services continuedto expand, with two new house-hold insurance products launchedin 2003: Lagun Aro HogarÓptima and Lagun Aro HogarExclusiva. The Lagun Aro SaludVital scheme was also incorpora-ted in the health field.

Four new offices were opened in2003, three to deal directly withclients and one through brokers.They are all located in Vitoria.These new offices take the totalnumber of offices operating in theBasque Autonomous Community,Navarra, Barcelona and Valenciato 68, to serve the company’s240,000 clients.

As far as Customer Satisfaction isconcerned, according to the stu-dies carried out by the ICEA,Seguros Lagun Aro improved itsresults compared to 2002 with avery good score, to enable thecompany to maintain its leaders-hip position in the sector.

As regards People Development,the training policy continued tobe a key factor in the company’sstrategy. In this regard, coursesand programmes were preparedand given to encourage profes-sional development, improvebusiness and people manage-ment skills, as well as projectmanagement and the chairing ofmeetings.

Finally, it should be pointed outthat the workforce was increasedby 24 people over the year,which is an 8% increase, takingthe total workforce to 320 peo-ple. �

2

17

Industrial GroupIndustrial Group

n 2003 industry in ourregion was affected by the

sluggishness of the European eco-nomy and the 20% appreciation ofthe euro against the dollar, whichmade it difficult to export. In thissituation, industrial productionrecorded moderate growth of1.4% in Spain as a whole andslightly less growth (0.7%) in theBasque Country, which was moreaffected due to its greater exposu-re to foreign demand.

The MCC’s Industrial Group’s per-formance indicators remained inmoderate positions over the wholeyear. The best performances camefrom co-operatives operating in theautomotive and construction sec-tors, whilst machinery manufactu-rers have felt the effect of a fall inbusiness investment, although therewere significant increases in activityin engineering and capital goods,as a result of the Matrici co-operati-ve coming on board in 2003.

As far as the Basic CorporateObjectives are concerned, themost outstanding achievementsduring the year were as follows:

Customer Satisfaction. In 2003progress continued to be made inthe improvement of product andprocess management quality, withmost of the ISO-9000 quality certi-fications held successfully adaptedto the new 2000 regulations,which are more demanding. Like-wise, at the end of 2003, therewere 33 business units with ISO-14000 environmental certification.

Improvements continued to madein the EFQM assessments, with

Soraluce and Fagor Electrodomes-ticos Washing Appliance businessawarded the Silver Q by the Bas-que Foundation for Quality (Euska-lit), after scoring more than the400 points necessary to win theaward.

These efforts aimed at improvingquality, general among the co-ope-ratives, have borne fruit in thatFagor Electrodomesticos was afinalist in the European Quality Pri-ze 2003. It is also worth highligh-ting that Irizar won the Coach ofthe Year prize 2004 in Europe,with its PB model.

Profitability. Demand was some-what variable in 2003. It was qui-te high in the domestic market andrather weak abroad, especially inEurope. In this context, profitabilityincreased as the year went on,with the biggest rise in the lastquarter.

Over the year as a whole, theresults of the Industrial Group,before deducting the interest paidon Share Capital, increased by1% compared to 2002, to stand at185 million euros, which accountsfor 4.2% over sales.

Internationalisation. Interna-tional sales, which consist ofexports plus foreign subsidiarysales, totalled 2,152 million eurosin 2003, which was an increase of4.6% compared to 2002. Theweakness of the leading Europeaneconomies and the strong appre-ciation of the euro against thedollar made international growthenormously difficult. This is quiteclear from the fact that internatio-

nal sales only accounted for49.1% of total sales in 2003, com-pared to 50.8% in 2002.

As far as new production plantsabroad are concerned, the mainevents in 2003 were the start ofproduction by Copreci in Turkeyand the setting up of plant byFagor Industrial in the samecountry, the takeover of the Britishmachine-tool manufacturer Newallby Danobat, and the increase ofFagor Ederlan’s holding in Fundi-çao Brasileira to 100%.

In relation to this objective, men-tion must be made of the PrincePhilip of Asturias Prize for BusinessExcellence won by Fagor Electro-domésticos in 2003 for its Interna-tionalisation Strategy.

Development. Total turnover sto-od at 4,379 million euros in2003, which is 8.1% higher thanin 2002. The most significantincreases took place in the Engine-ering and Capital Goods division(31%), thanks to the incorporationof Matrici, followed by the Auto-motive division (16.3%), in a yearin which vehicle registration incre-ased by 3.8% in Spain, althoughin Western Europe as a whole itfell by 1.3%, and the Constructiondivision (15.3%).

In line with the performance ofsales, industrial employment alsocontinued its upward trend,although not as sharply as in 2002.In 2003, 1,431 workers joined theIndustrial Group. 516 of them workfor Matrici, with the other 915corresponding to new jobs created.At the end of the year this took the

IIndustrial GroupIndustrial Group

18

total workforce to 32,597 people,of which 6,709 (20.6% of the total)were working abroad.

Investment is another indicator ofbusiness development. It accountedfor 312 million euros in 2003,which was 17% less than the recordinvestment figures posted in 2002.

Innovation. In 2003 work wascarried out to boost innovation onseveral fronts. The implementationof a system of indicators standsout, which was used to carry outan initial assessment of the actualsituation. A proper strategy wasalso developed and opportunitieswere identified and developed innew sectors of corporate interest.A silo of innovative ideas was setup and work started on the NewScience and Technology Plan tocover the period 2005-2008.

In the R&D field, the MCC is com-mitted to increasing its ability tomeet increasingly more complexrequirements, in order to increaseadded value in the products manu-factured. Therefore, centres spe-cialising in different technologiesare being created in order for the-se technologies to be applied inthe co-operatives. In this regard,after the six centres inaugurated in2002, Edertek, specialising inmetals applied to the automotivesector, was opened in 2003. TheGroup now has 11 R&D centres inoperation, with 517 workers in2003. The plans are to have 580people working in them by theend of 2004.

Social Responsibility. In the socialfield, work continued on promo-

ting co-operative employment, byencouraging contracted workersin the co-operatives to becomemembers. The number of co-ope-rative members in the IndustrialGroup increased by 986 peoplein 2003.

Work also continued on Manage-ment Development and Co-operati-ve Training and Dissemination.The training and co-operativedevelopment programmes wereadapted to mixed classroom andon-line training systems. In theenvironmental field, progress wasmade on an agreement with theBasque Government and a Sustai-

nability Report is being drawn up,which it is hoped will be publishedin 2004.

As far as Health and Safety atWork are concerned, the co-ope-ratives have had the support ofLagunaro-Mondragón, in terms ofadvice and the development ofsupport tools. In this field, thereform of the current legal frame-work that took place in 2003, for-cing companies to have a Preven-tion System, has confirmed the factthat the co-operatives were right tohave anticipated this by implemen-ting their own Workplace Risk Pre-vention systems. �

Total SalesIn millions of euros

International SalesIn millions of euros

InvestmentIn millions of euros

Personnel

19

2002

4,049

2003

4,379

2001

3,475

2002

2,058

2003

2,152

2001

1,769

2002

378

2003

312

2001

282

2002

31,166

2003

32,597

2001

27,050

n 2003 this Division posted aturnover of 898 million euros,

an increase of 16.3%, in spite of thestagnation or slight slump in its cus-tomers’ market. This meant that theDivision has recorded an averageannual rate of growth of 13.3%over the last five years. The numberof jobs also increased significantlyover the same period –7.1% annualaccumulated rate-, with the workfor-ce standing at 6,987 people at theend of the year.

In Mondragón AutomociónCHP, Fagor Ederlan increased itssales by 21.6% compared to 2002,maintaining the upward trend ofprevious years. On the internationalstage, Fagor Ederlan Brasileira’sglobal supply offer to deal with thenew component casting and machi-ning projects of customers like GMand VW stood out. The SuspensionBusiness Unit started the mass pro-duction of the C1 knuckle for Ford,Volvo and Mazda, designed incollaboration with the customer. Thisis the biggest project achieved todate in terms of volume and repre-sents a qualitative leap forward forthe activity as a whole. The EngineBusiness Unit took a big step for-ward, taking on projects of a hightechnological value.

Special mention should also bemade of the work done by FagorEderlan to improve the environment.5% of its total investment was ear-marked for this purpose, leading toEco-Management and AuditScheme (EMAS) registration andcontinuation of ISO 14001 certifi-cation.

Automódulos, with three productionplants -Fagor Ederlan Borja,Automódulos Aragón and Autoejes21-, increased its sales by 70%, topost figures of 121 million euros,

thanks to the Opel Meriva cominginto production, a model for whichthe company assembles the rearaxle.

V. Luzuriaga Tafalla posted a newsales record of 85,000 tonnes butwas unable to pass the record ontoprofits, due to the increases in theprice of raw materials. The com-pany continued to develop new pro-ducts for Volvo Penta and Renault

and successfully carried out trials forcompact graphite blocks, with aSintercast licence. V. LuzuriagaUsurbil confirmed their leadership inEurope for the products they manu-facture and, in institutional terms,started the process to operate on aco-operative basis, by offering theworkers the possibility of becomingco-operative members.

For FIT Automoción, 2003 was anintensive year as far as the processto adapt its facilities to the new calli-per models was concerned.However, the sales and profit tar-gets (134%) were both met.Ecenarro completed its process ofintegration into the MCC, with a sig-nificant adjustment to its structureand clear improvements in produc-tion processes, based on investment

in machinery. Significant orderswere also won from Peugeot, whichwill come into production in 2004.

In Mondragón AutomociónBCM, Batz Sistemas increasedsales by 31% and won the order forthe development and manufactureof the complete pedal module forthe Punto/Corsa platform, with apassive safety system patented byBatz, which comes into operation inthe event of a collision. Cikautxosaw its sales rise by 12.6% andfocused its resources on improvingmanagement in the company’splants in Borja, Zaragoza, CzechRepublic and Brazil, as well as theintroduction of new products.

Maier also took another step for-ward in its efforts to improve theenvironment, by obtaining Eco-Management and Audit Scheme(EMAS) registration. Once again,the company posted a significantincrease in turnover, of 27.7%,obtaining a big improvement in pro-fitability. The company also revie-wed its internationalisation strategy,abandoning South America to focuson Eastern Europe and Asia. FPKstood out for its ability to adapt tothe technological and product chan-ges experienced over the last fewyears, and the start of mass produc-tion of the cockpit carrier for Volvo’sS40-V50, after the complete deve-lopment of the component. �

José María AldekoaMCC Vice-president

Chief Executive - Automotive Division

I

2002 2003

Sales 772 898

International sales 523 542


AUTOMOTIVE

20

he general sluggishness ofthe market, mainly the Euro-

pean, and the effect of the parityof the euro in the dollar zone,affected the Division’s activity. Itposted a moderate 2% increase inturnover, with a stabilisation inforeign sales. This did not preventthe Division from recording a sig-nificant improvement in profitabi-lity and giving a vigorous boost tointernationalisation.

In this regard, Copreci set up asubsidiary in Turkey and began tostudy the possibility of setting upin China. Eika Mexico was laun-ched in Querétaro to producecomponents for electric cookingappliances, and will start produc-tion in the second half of 2004.Orkli extended its facilities in Chi-na and Eika did the same in theCzech Republic. Overall, the Divi-sion ended the year with 20 pro-duction plants, 12 of which arelocated abroad..

In terms of innovation, the advan-ces made in the solid oxide fuelcell project stand out, with levelsof efficiency in line with theLawrence Berkeley National Labo-ratory, which is collaborating withus in this field. In view of theadvances, experiments are goingto be carried out with cells thatcan meet demanding require-ments and be able to help solvethe problems still to be overcome,in order to then start the produc-tion and marketing of this type ofelements.

Progress was also made in thedevelopment of systems related tothe sensorisation of critical para-meters in combustion and was-hing processes. Collaborationwith the National MicroelectronicsCentre (CNM), the University of

the Basque Country and Ikerlan,has enabled us to increase ourknowledge about the variables inplay and the technologies availa-ble to measure and control them.

In White Goods, with a lowlevel of growth in the sector, a tur-nover of 220 million euros wasachieved, with international salesaccounting for 71%. It is worthhighlighting the significant increa-

se in electronic components fordomestic appliances, the launchof a new touch-sensitive range forelectronic control and the increasein market share in North America,in gas and electric cooking com-ponents.

Home Comfort won the BoschPrize as an “Outstanding Sup-plier” and grew by 8% in spite ofthe sluggishness in the sector, withinternational sales in excess of80% of the total. There was also asignificant increase in investmentand production of gas safety com-ponents at the Chinese plant inNingbo, where we also started tomanufacture magnetic units. Therange was also extended at theMexican plant in Guadalajara,with the production of air heating

components. In the Central Hea-ting business unit, expansion con-tinued abroad and our presencein Spain was consolidated thanksto the construction bonanza.

Electronics recorded growth ofmore than 6% in year characteri-sed by complete sluggishness inthe sector, especially in semicon-ductors. This situation was worse-ned by the effect of the parity ofthe euro against the dollar, whichnegatively affected profitabilityand market share. However, theTurkish plant recorded a signifi-cant increase in production capa-city, achieving a good level ofsaturation of its production lines.

The Radio Frequency business unitlaunched a new activity for themanagement of vehicle fleets andprogress was made in the studyfor the start up of a project basedon WI-FI technology. ElectronicSubcontracting recorded stronggrowth, mainly in the domesticappliance sector in the cookingand washing areas. �

José Luis OlasoloMCC Vice-president

Chief Executive - Components Division

T

2002 2003

Sales 422 429



21

COMPONENTS

he Division’s turnover recor-ded a significant 15.3%

increase and its international salesrose by 6.6% to account for19.3% of total sales, with an exce-llent level of profitability.

Systems and Services postedsales totalling 475 million euros,with an increase of 25%. In thiscontext, the consolidated sales ofthe Orona Group accounted for225 million euros, a 21% increa-se, which was 20% in Spain and24% in the rest of the world, withFrance, United Kingdom andScandinavia standing out. Therewas also a strong increase in theorder books, 19 points higherthan in 2002 to ensure a goodlevel of activity for 2004.

In 2003 projects were carried outas representative as the BaluarteAuditorium in Pamplona, the Bou-levard Shopping Centre in Vitoria,the Hotel Sheraton in Bilbao andthe 37-storey Cepsa Towers inTenerife. Lifts and escalators wereordered for the extension to thePrado Museum in Madrid, for theextension to the metro in Bilbaoand the new Zubiarte Centre. Asa result of this intensive activity,the workforce increased by 202people, the production facilitieswere extended in Hernani, toge-ther with the Service Centres,which now number 56. The Oro-na eic Research Centre beganoperation with a workforce of 30people.

Urssa carried out and won anumber of important projects. Inindustrial buildings, three combi-ned cycle stations in Amorebieta,Cartagena and Logroño and theextension of the CERN particleacceleration plant in France. Inurban buildings, the Marqués de

Riscal winery designed by FrankO. Gehry and the AbandoibarraShopping Centre in Bilbao; andin public works, a number of brid-ges in Panama, France, Angolaand the Cantabria region ofSpain.

Ecotècnia had a brilliant year,more than doubling its sales figu-res for 2002. The companymoved to new headquarters,

occupying more 4,000 m2,equipped with the most up-to-datedesign and research equipmentand ended the year with goodorder books that will ensure anexcellent 2004. Important mate-rial and human resources conti-nued to be earmarked for techno-logical development and thecompany opted firmly for interna-tionalisation.

Biurrarena recorded a high levelof growth of 20% and promoted anumber of projects in the environ-mental field, winning the contractfor a domestic appliance recy-cling facility, a business with goodprospects for the future. Lana star-ted to manufacture wooden struc-tures with different ornamentaland construction uses.

In spite of the more or less generalcrisis situation, the ULMA Grouprecorded moderately positiveachievements. Sales increased by5% to close to 362 million euros,of which 103 million were inter-national sales. Net profits wereclose to 16 million euros. Thesefigures demonstrate the sustainedgrowth recorded by the Groupover the last few years, with oneof its main assets continuing to beits diversification strategy andcommitment to Total Quality.

Employment continued its upwardtrend, with 124 people joining theGroup during the year. This tookthe total workforce, including sub-sidiaries, to 2,598 people, ofwhom 474 (17.9%) were workingabroad. Efforts continued to bemade to promote co-operativeemployment, with a net increaseof 146 active members.

Significant progress was alsomade in the development of theTotal Quality Management Systemin all the Group’s business units,now that the EFQM model hasbeen consolidated as the basicmanagement reference. �

Jesús MaizteguiMCC Vice-president

Chief Executive - Construction Division

TCONSTRUCTION

2002 2003

Sales 725 836



22

he year was characterisedby the sluggishness of the

most developed countries’ econo-mies, with only slight improve-ments at the end of the year, andthe continuing weakening of thedollar against the euro. In thissituation, the Division as a wholeperformed well as, althoughsales growth was moderate com-pared to previous years, profitsexceeded the excellent level pos-ted in 2002.

Leisure-Sport continued to per-form well, in spite of the negativeeuro-dollar parity, with an 8%increase in sales and excellent

levels of profitability. The successand rate of product and businessmodel innovation played a deter-mining role in this. Dikar-Win-group carried out a far-reachingrenovation of their products, withhighly innovative modifications intheir basic systems, confirmingtheir leadership with an interna-tional turnover in excess of 80%of the total. Eredu continued toprogress with a 13% growth insales, based on new product pro-grammes and a high level of costefficiency.

Orbea continued its internationalpenetration, strengthening itsposition and image, also basedon having got product designand innovation right, especiallythe carbon frame and the double

suspension frame. The company’ssolid business position and effi-ciency in terms of processes andtechnology led to very attractiveprofitability.

Technical Components andEquipment continued to deve-lop and consolidate. Ampo gotits significant investment pro-gramme, started in 2002, to fullcapacity, with the completion ofthe new valve plant, and focusedits efforts on improving efficiency.Ederfil concentrated on strengthe-ning its strategic focus, by bac-king the transformation of Beckerinto a co-operative enterprise

and its joining the MCC, in orderto set up a more solid, leading-edge unit in the European Union.

Irizar won the “Coach of the Yearin Europe” prize with its Irizar PBmodel. This is a prize thatrewards the industrial andmechanical excellence of manu-facturers who launch new modelsonto the European market and isrecognised as one of the mostimportant in the world in its cate-gory. The company continued toexpand abroad with the consoli-dation of its plants and subsidia-ries in other countries, onceagain recording good levels ofefficiency and profitability. Her-tell and Urola also continued toconsolidate their businesses andprofitability.

Industrial Services consolida-ted the positions achieved, main-taining profitability and prepa-ring platforms to tackleglobalisation. Alecop continuedto make progress abroad. Alkar-go reinforced its quality anddevelopment in the power marketand Coinalde boosted its interna-tional development, preparingprojects to open up a gap interms of its leadership in Europe.

Mondragón Graphics increasedits sales by 9%, standing out forits customer support and servicewith the intensive use of ICTs anda significant improvement in pro-

fitability. Oiarso and Osatu boos-ted their international develop-ment through product innovationand working hard to find morecompetitive supply sources, topromote other possibilities offocusing their business. �

Iñaki OtañoMCC Vice-president

Chief Executive - Industrial Equipment Division

TINDUSTRIAL EQUIPMENT

2002 2003

Sales 557 575



23

he sluggishness in the Divi-sion’s traditional European

markets, in both the domesticappliance and furniture sectors,meant that sales only recorded aslight increase compared to2002. It was a very fruitful yearas far as quality was concerned.Fagor Electrodomésticos won thePrince Philip of Asturias Prize forBusiness Excellence, Fagor’s Coo-king Appliance business was afinalist in the European Prize forBusiness Excellence and the Was-hing Appliance business wasawarded the Silver Q. The com-pany also achieved EuropeanEco-Management and Audit Sche-me (EMAS) registration.

In Domestic Appliances, thedomestic market improved some-what compared to 2002. This ledto a 6.8% increase in sales in acontext of tough competition andsqueezed margins. Abroad expor-ting became more difficult, due tothe weakness of the Europeancountries Fagor exports its pro-ducts to, and the strong parity ofthe euro against the US dollar inthe dollar zone. All this led to aslight fall in international sales,which accounted for 41% of totalsales.

As far as foreign subsidiaries areconcerned, the business project inArgentina had to be abandoneddue to the crisis in that country.Extra Electroménager in Moroccoand Shangai Minidomésticos inChina both performed well. Wro-zamet in Poland was reinforced,as a strategic commitment lookingto the future, with a 4.6 millioneuro investment in three new pro-duction lines to produce washingmachines, refrigerators and gas

hobs, with a capacity to manufac-ture 140,000, 160,000 and150,000 units respectively. Like-wise, the holding in Elco-Brandtled to the exchange of 361,780domestic appliances and500,000 washing machinemotors, to the overall value ofmore than 70 million euros.

In Spain, Fagor maintained its lea-dership, with a market share of21%, according to data fromAnfel. The company’s threebrands were among the top ten inthe sector and the Fagor brandwas reinforced as the market lea-der. Domusa also had an exce-llent year, increasing its sales by20% and growing 16% in theinternational market, in spite ofthe crisis.

In institutional terms, the 9 millioneuro increase in capital carriedout by Fagor members and thegreat success of Fagor Electrodo-mésticos’ first issue of the “Subor-dinate financial contributions”stand out. This project, designed

in 2003 and materialised early in2004, generated a demand threetimes greater than the 60 millioneuro issue, which had been dou-bled from the initially planned 30million euros.

In Furniture, it was an extremelytough year, with a 14% fall insales and the start of a series ofbusiness overhaul and reorganisa-tion measures, which will culmina-te in 2004 and will also includethe launch of new product ranges.

Catering Equipment managedto increase sales by 11.6%,thanks mainly to Fagor Industrial’spenetration into new internationalmarkets, which enabled the com-pany to increase its foreign turno-ver by almost 40%. As far as thecompany’s expansion policy isconcerned, in addition to theplants in Cordoba, Catalonia andVilleneuve in France, new plantswill go into operation in Polandand Turkey in 2004. �

Fernando Gómez-AcedoMCC Vice-president

Chief Executive - Household Goods Division

THOUSEHOLD GOODS

2002 2003

Sales 1,080 1,093



24

aking into account the diffi-cult situation that the sector

is experiencing practically allover the world, the overall perfor-mance of the Division has to beconsidered satisfactory. It mana-ged to increase turnover by 31%,due in part to the incorporation ofMatrici, and international salesby 65.4%, and achieved anacceptable level of profitability. Ininstitutional terms, the process ofthe integration into the MCC ofthe Loramendi company fromVitoria was consolidated.

Automation and Control hada complicated year due to thewidespread crisis in the machinetool sector and the revaluation ofthe euro against the dollar. Thismeant that although there was15% growth in physical terms,there was stagnation in monetaryterms. The foreign market accoun-ted for 69% of Fagor Automatio-n’s sales, which boosted the com-pany’s penetration into SoutheastAsia and especially China, whereit is studying the possibility ofincreasing its production facili-ties. The final investment was alsomade in the new Eskoriatzaplant, aimed above all at the pro-duction of optical rules.

In Forming Machinery theorders won were 12% better thanin 2002, pointing to a trendtowards consolidation in demand,which it is hoped will continue in2004.

The list of customers continues tobe large and of high quality,including in the automotive sectorFord/Volvo, Volkswagen/Seat,Renault, DaimlerChrysler, PSAGroup, Opel/GM, BMW, Hondaand Saipa (Iran), as well as

megasuppliers like Magna,Tower, Johnson Control, Benteler,Gestamp, Tenneco, GKN, Valeoand Oxford. In the domesticappliance sector General Elec-tric/Mabe, Whirlpool/Fadsa,Electrolux, Bosch-Siemens, May-tag and Fagor. In the iron and ste-el industry Thyssen Krupp, Acera-lia/Arcelor, British Steel, EkoStahl, Acerinox, Bamesa andNamasco.

Forming and Assembly, anew unit made up of Batz Tro-quelería and Matrici, recorded astrong 26% increase in sales.However, as happened with thesector as a whole, not many neworders were won, which pointstowards a difficult year in 2004.

In organisational terms, the crea-tion of the unit led to a co-ordina-tion of the sales management ofthe two co-operatives and theimplementation of a new custo-mer-oriented model at Matrici,based on minifactories with ahigh level of autonomy, similar towhat has already been done suc-cessfully at Batz.

Engineering and Consultingposted a turnover similar to thatof the previous year. In a difficult

year for the sector, an 18% incre-ase in orders was achieved, withsignificant forecasts for growth in2004 in terms of both sales andemployment, in practically all are-as of activity. �

José Ramón GoikoetxeaMCC Vice-president

Chief Executive - Engineering and CapitalGoods Division

TENGINEERING AND CAPITAL GOODS

2002 2003

Sales 292 384



25

n an especially tough yearfor the sector, the Division’s

turnover fell by 20% compared to2002. This was a direct result ofthe widespread fall in demand forcapital goods, the strong appre-ciation of the euro against thedollar and the increasing pricedifferential built up in recentyears in comparison with the mostindustrialised countries in theEuropean Union, Japan and theUnited States. Moreover, inves-tment decisions are being increa-singly moved to Eastern Europeand above all Asia, where accessis more complicated.

Machine Tools posted a turno-ver at 80% the level of 2002,although the level of internationa-lisation was high as 78% of thetotal came from operationscarried out abroad. Orders alsofell by 14% compared to 2002, ayear in which the orders won hadalready fallen by 23%. Thesefigures confirm the serious crisisthe sector is suffering and itsrepercussions on the DanobatGroup.

As far as orders won are concer-ned, the ranking was headed byGermany with 18%, followed byUnited States (13%), Italy (9%),France (8%) and Russia (7%), acountry that started dealings withthe Division in a strong way, withan order for four grinding machi-nes to the value of 4 million eurosfor the Salut aeronautical firm.

As part of this internationaldimension, the takeover by theGroup of the British firm Newallstands out. This company manu-factures grinding machines for theaeronautical and automotiveindustries, with clients as impor-tant as Rolls-Royce, GE, Pratt &

Witney, American Airlines andBoeing. This takeover has streng-thened Danobat’s leadership inthis field. Apart from Newall, theGroup has another two plants inGermany: Overbeck specialisingin grinding and Danobat-Bimatecin milling.

In addition to increasing its inter-national presence, the DanobatGroup started an innovative pro-

ject of high strategic value, withthe launch of the new Goimek co-operative. This company will startproduction at the end of 2004and will be engaged in themachining of strategic parts, ofgreat technical complexity, higheconomic value and high preci-sion. It will have an initial work-force of 65 highly qualified andexperienced people, who willmainly work on large sized parts,for which there at not manymachining companies at theworld level. This will mean thatDanobat can offer the sector anintegrated service, which notmany companies are able to do.

Another important, forward-loo-king commitment is the “Himach”Technology Centre for High Per-

formance Machining, that formspart of Ideko and is located inElgoibar. At a cost of 7 millioneuros, this centre will be built in2004, when it will also start tooperate in a 1,500 m2 buildingequipped with the latest machi-nery. It will have a team of 18researchers, which it is hoped willrise to 50 by 2007.

Himach is part of the DanobatGroup’s conviction that futurecompetitiveness in the sector isgoing to be based on the intensi-ve incorporation of new high per-formance machining technologiesin machine tool products. Conse-quently, the general aim is “rese-arch and apply, in collaborationwith customers, advanced highperformance machining technolo-gies” with the specific targets of:developing efficient machiningsystems and processes and impro-ving machine tool reliability andfeatures.

Woodwork Machinery, Too-ling and Fixtures had anotherdifficult year, with a 12% fall inturnover and a drop in the orderbooks compared to 2002. Theforecasts point to another compli-cated year in 2004. �

Antonio EcheverríaMCC Vice-president

Chief Executive - Machine Tools Division

IMACHINE TOOLS

2002 2003

Sales 189 151



26

27

Distribution GroupDistribution Group

onsumer spending wasmoderately positive in

2003, although the performancewas not the same in all segments.It focused mainly on durablegoods, leisure and products rela-ted to health and physical well-being.

As far as the regulations gover-ning the sector are concerned, lastyear the restrictions on the ope-ning of new stores were intensi-fied, spreading to all the Autono-mous Communities. Moreover,these regulations are not exclusi-vely limited to large stores, but aregradually being extended to othertypes of stores.

The MCC’s Distribution Group,made up of the Eroski Group andthe agricultural-food businessgrouping Erkop, continued togrow by opening new stores andstarting up new initiatives. In2003 there were also two impor-tant changes in its compositionas Consum decided to leave andthe holding in Mercat was incre-ased, in order to fully integratethis company into the EroskiGroup.

The most important milestones inthe Distribution Group’s fulfilmentof the Basic Corporate Objecti-ves were as follows:

Customer Satisfaction. Oneof the most important eventsduring the year was the achieve-ment of certification to the SA8000 international standard dea-ling with Social Accountability,based on an audit carried out byBureau Veritas Quality Internatio-

nal. The Group became the firstSpanish retailer and the secondin Europe to obtain this certifica-tion, which confirms a commit-ment to social responsibility andrespect for human rights in rela-tion to consumers, workers, sup-pliers and society in general.

Another important aspect was thelaunch of the “Soluciones Multi-hogar” outlet, to meet a numberof domestic requirements. This isa retail space offering all types ofinsurance (health, household,car, accident and life), financialservices, and repairs, alterationsand emergencies at home.

Mention must also be made of theunification of the perfume storesunder the IF (In Faradis) name,bringing together 147 storesengaged in this line of business.This new trade name will combinethe current philosophy of customerservice and attention with a new,revolutionary view of the modernperfume store.

Profitability. In order to impro-ve organisation and promote pro-fitability, in 2003 a new manage-ment tool was incorporated thathas marked a milestone in theadvance of supermarkets, ena-bling detailed control of the rangeand prices at each outlet, as wellas precise knowledge about pro-ductivity and stock control in thestore.

A lot of work was also done tostrengthen the logistics chain forsupplying stores. To this end, anew depot was inaugurated inMalaga to facilitate the supply ofstores in Andalucía, the depot inPonferrada was extended to beco-me the main distribution base forCastilla-León and Asturias, andthe fresh produce depot in ACoruña was improved.

The commercial activity inherentto the Eroski Group performedwell, with an increase in marketshare, as a result of the high levelof investment to increase the Grou-

CDistribution GroupDistribution Group

28

p’s presence in the different partsof Spain. Together with the conti-nuous improvements made inmanagement, this led to a 12%increase in profits in 2003.

Internationalisation. Althoughmost of its activities take place inSpain, the Distribution Group alsooperates in France through its sub-sidiary Sofides, which currentlyruns 3 hypermarkets and a chainof 19 supermarkets.

In 2003, the most importantaspect in international terms wasthe setting up of Alidis (AlianzaInternacional de Distribuidores), acompany set up to channel theagreement between Eroski andthe French group Les Mosquetai-res (Intermarché). This will signifi-cantly increase negotiating andpurchasing capacity with interna-tional manufacturers.

Development. The DistributionGroup continued to invest heavilyin 2003. It was a year in which itreinforced the different storechain formats, with 144 additio-nal sales outlets, of which 8 werehypermarkets. Organic growthwas complemented with an incre-ase in the holding in Mercat, aswell as the takeover by ViajesEroski of the wholesaler DíasLibres. These two companieshave now been integrated intothe Group.

The takeover of Mercat was fun-ded by the second issue of “Eros-ki Financial Contributions”, to thevalue of 70 million euros, whichwas subscribed by shareholdersin compensation for the sale.

In Erkop, the inter-business co-ope-ration project in the egg produc-tion sector stands out, with Mibaas the technological partner ensu-ring product quality. Likewise, thecatering activity continued with itsexpansion plan, successfully set-ting up in Aragón, Asturias, Can-tabria and Castilla-León.

Overall, the net investment madeaccounted for 515 million euros,which was 88% higher than thefigure for 2002.

The growth in the store chainmeant a 2% increase in sales inspite of the departure of Consum.Without taking Consum intoaccount, the increase was 20%. In2003, the Group took on 5,485new workers, leading to a netincrease in the workforce of 186people.

Innovation. The renovation andapplication of new technologies isa fundamental part of the goodperformance of the DistributionGroup.

In this regard in 2003 the storageand distribution system for the per-fume business was modernised,by means of the implementation ofa new network platform that willenable the whole activity to bemanaged on line.

The first massive electronic labe-lling system in the Spanish marketwas also implemented. The labelsprovide information about the pro-duct, price, availability of specialpromotions, thereby offering shop-pers and store staff greater conve-nience.

InvestmentIn millions of euros

Workforce

Total salesIn millions of euros

29

2002

5,182

2003

5,276

2001

4,631

2002

274

2003

515

2001

563

2002

32,036

2003

32,222

2001

30,158

In the agricultural-food area,Erkop also carried out technologi-cal improvements in the integratedproduction of agricultural produ-ce, as well as the microbiologicalquality of the food prepared andcomponent traceability in feedmanufacture.

Social Responsibility. In 2003,the Eroski Group Foundation sig-ned collaboration agreementswith different bodies, amongstwhich the following stand out:Doctors beyond Frontiers, to fundthe project to prevent and treatChagas disease in Bolivia, withthe Juan Ciudad NGO, an orga-nisation for sustainable Humandevelopment and InternationalCo-operation, to supply surplustextiles and footwear from thehypermarkets for use in LatinAmerica and Africa, and withIntermón-Oxfam, for awarenesscampaigns about Fairtrade.

Among the activities carried outby the Foundation the followingstand out: “Idea sana” (HealthyIdea), aimed at offering shoppersinformation about food, healthand personal wellbeing; TheHealthy Idea Schools havecarried out more than 800 pro-grammes in 208 of the Group’sstores, in 15 Autonomous Com-munities, with the participation ofmore than 18,000 consumers.Another activity was the AdviceService about buying toys, whichwith the collaboration of psycho-logists and educationalists gaveadvice to more than 125,000parents about the most suitabletoys to develop the capabilities oftheir children.

The desire to involve the workers,through their participation inownership and management, issomething that makes the Groupstand out. In 2003, a total of13,079 owner-workers benefitedfrom the share out of the 52

million euros of profit obtained,which was 30% higher than in2002. This money was reinvestedin the Group to fund its develop-ment.

Finally, the Consumer magazineconsolidated itself as the consu-mer affairs magazine with thehighest circulation in Spain, withmore than 400,000 copies amonth. �

Constan DacostaMCC Vice-president

Chief Executive - Distribution Group

30

Erkop. The Agricultural-Food clus-ter performed well in 2003, witha 14% increase in sales. The cate-ring activity continued to expand,increasing its market share in theBasque Autonomous Communityand successfully penetrating newmarkets in the Aragon, Asturias,Cantabria and Castilla-Leonregions.

Miba took part in an inter-busi-ness co-operation project in theegg production sector. A marke-ting company was set up, with anumber of producers as partnersand Miba as the technologicalpartner providing know-how inorder to ensure product qualityand traceability throughout thewhole value chain.

Other projects started in previousyears were also completed. Thisled to an improvement in the inte-grated production of agriculturalproduce, the microbiological qua-lity of pre-prepared food and thetraceability of the components infeed manufacture.

As far as the meat and milk mar-ket was concerned, the droughtrecorded during the summer hadvery negative consequences, withstrong increases in the prices ofraw materials like wheat, corn,soya, etc., which affected the per-formance of farms. �

31

Research, Training and EducationResearch, Training and Education

33

esearch and technologicalinnovation have been a

constant feature in the Corpora-tion and a basic pillar for busi-ness development. The MCC’sdifferent Technology Centres arethe main driving force behind theCorporation today. In 2003, the-se centres had an overall budgetof 34.4 million euros and aworkforce of 613 people.

Ikerlan, the first centre set upby the MCC in 1974, specialisesin integrated product develop-ment. In 2003 its activity wasmarked by a slowdown, whichaffected the demand for projectsfrom companies. The Centre’srevenue totalled 13.6 millioneuros, of which 3.2 million camefrom generic and strategic rese-arch projects and 9.3 million forcontracted R&D projects. It had181 researchers and techni-cians, in addition to 43 interns.

Among the most outstandingaspects were the inauguration ofthe extension work on the Cen-tre’s facilities, presided over bythe Basque Primer Minister JuanJosé Ibarretxe, aimed especiallyat reinforcing the infrastructurededicated to microtechnologies.On the international stage, Iker-lan won approval for two pro-jects in the EU’s VI FrameworkProgramme and another in Eure-ka programme. The Centre alsoparticipated in the working com-mission for the Industrial Designand Production programme forthe National R&D&I Plan 2004-2007, drawn up by the Ministryof Science and Technology.

R

Aotek aims to maintain a levelof excellence in the technologiesintegrated in the products deve-loped and manufactured byFagor Automation –NumericalControls, Regulators and PositionPickup Systems- which cover:Kernel CNC numerical calcula-tion, Automatics, Vectorial con-trol, User interfaces, Operatingsystems, Connectivity andOptics. In 2003, it had a teamof 30 researchers and a budgetof 1.5 million euros.

ResearchResearch

Edertek is the CHP Grouping’sTechnology Centre, engaged inthe development of new mate-rials and parts for the automotivesector. It operates in close colla-boration with its clients, to rein-force its position as a top deve-lopment supplier. It beganoperation in 2003, with a bud-get of 1.7 million euros and aworkforce of 17 people, whichwill increase by 22% in 2004.The budget for 2004 will be 2.4million euros and investment willaccount for 1.08 million euros.

34

Maier Technology Centre(MTC), specialises in the rese-arch and development of thermo-plastic parts and units for theautomotive, domestic appliance,telephony and consumer electro-nics sectors. It operates on thebasis of concurrent engineering,in close collaboration with itsclients, consolidating its positionas a development supplier in linewith the demanding require-ments of the sector. In 2003, itsworkforce totalled 103 people,consisting mainly of senior engi-neers and technicians, in addi-tion to 19 interns. It ended theyear with a turnover of 6 millioneuros.

MIK, a Business and Organisa-tional Research Centre, which, inits second year of operation, hada workforce of 18 people and aturnover of 815,000 euros. It isplaying a leading role in the co-ordination and development ofthe Conex Programme, aimed atstrategic research into businessmanagement, which will end in2004, as well as the configura-tion of the Basque Country’s Cen-tre for Co-operative Researchinto Business and OrganisationalManagement.

Koniker, specialising in For-ming and Assembly, has itsheadquarters in Mondragón. Itwas set up in June 2002 byFagor Arrasate, Batz, Mondra-gon Assembly, Ona Pres andAurrenak. It was created to dealwith R&D projects in a co-ordina-ted way and take advantage ofsynergies in the forming,assembly, machinery and toolingareas. In 2003, it had a work-force of 11 researchers, opera-ting in teams with the technicaldepartments of the different com-panies. It has a budget of526,000 euros.

Lortek, located on the Univer-sity of Mondragón campus inOrdizia, was set up in 2002 tocarry out research into advancedjoining technologies and proces-ses. It is divided into four highlyinterrelated areas: Design, Pro-cesses, Non-destructive Tests andIndustrial production, roboticsand automation. In 2003, thecentre’s first year of operation, ithas a budget of 305,000 eurosand a team of 18 people.

Ideko, specialising in MachineTools and part of the DanobatGroup, ended the year with arevenue of 5.3 million euros, ofwhich 55% came from contrac-ted research projects, and therest from strategic and pre-com-petitive research projects, with ateam of 102 people. In 2003,the Centre continued workingwith important German centreslike WZL, IFW, IWM and IWT,experts in machining technolo-gies and the Universities of Mon-dragón, the Basque Country,Navarra and Cartagena, specia-lising in sheet metal machining.

Ideko carried out important pro-jects for Group companies and,within the European programmeframework, successfully comple-ted the Prima and Amadeus pro-jects and made progress withSmartool. It participated in theIberoamerican High Performan-ce Machining Pibamar and tooka leading role in the Spanishequivalent Retemar, as well as anumber of different initiatives inthe MCC’s Science and Techno-logy Plan. HiMach is a far-rea-ching Ideko project that willcarry out research into high per-formance machining technolo-gies, starting in 2004.

35

Modutek focuses on the deve-lopment of modules and systemsfor the automotive sector, withthe help of modern CAD equip-ment, combining the know-howof the MCC’s Technology Cen-tres, the contribution of the Uni-versity of Mondragón and indus-trial experience of theAutomotive Division. In 2003, ithad a budget of 1.5 millioneuros and a workforce of 15people.

Orona eic (Elevator, Inno-vation Centre), engaged inresearch and development of liftsand elevators, is a result of thestrategic importance that Oronagives to innovation, with a Cor-porate Management responsiblefor ensuring the Group competiti-ve products and technologies.Ikerlan and the University ofMondragón are partners in theenterprise. In 2003, its first yearof operation, it had a budget of1.6 million euros and a workfor-ce of 30 people.

The Packaging Technologi-cal Center (UPTC), linked toUlma Packaging and engaged inthe development of packagingequipment, it operates on threelines: Specialisation guide pro-jects, including advanceddesigns, optimum product packa-ging system, machine dynamics,regulation and control and inno-vation process; On demand rese-arch projects focused on thePacific wrapping line, the Scor-pius heat sealing line and theOptima high production heat for-ming line; and the Promotion ofnew activities aimed at productprocessing and packaging non-food products. In 2003, the cen-tre had a budget of 850,000euros and a workforce of 26people.

The Garaia Innovation Park,located in Mondragón, is anambitious project to promoteinnovation and technology, bycombining the work of the Uni-versity, Technology Centre andcompanies. After the approval in2003 of the General Urban Plan-ning Plan and the plans affectingthe area it is located in, in 2004the development plan is schedu-led to be carried out togetherwith the start of the constructionof the modular building dedica-ted to laboratories and innova-tion. �

36

UNIVERSITYOF MONDRAGON

,995 students registered fordegree courses at the Univer-

sity of Mondragon for the acade-mic year 2003/04. This was anincrease of 2.6% compared to2002. 386 students did postgra-duate degrees in academic year2002/03, bearing in mind thatthe figures for 2003/04 will notbe available until the end of theyear.

In academic terms, the most outs-tanding features were the introduc-tion, in the academic year2003/04, of the new Teacher Trai-ning Physical Education speciality,at the Faculty of Humanities andEducation Sciences in Eskoriatza.

As far as opening out to other are-as is concerned, in 2003 a lot ofwork was done with the LocalCouncils in Irún and Hondarribia,as well as with companies and ins-titutions in the area, to develop anew university campus in Irún. Thecampus will focus on businessmanagement and from the 2003-2004 academic year offer a Busi-ness Science course specialising intwo areas: “International Trade”and “Business Logistics and Trans-port”, activities of great importan-ce in business environments thatstraddle frontiers.

Work continued on the design ofthe curriculum and the implemen-tation of the new educationalmodel in the form of the Mende-berri Project. The basic aim of theproject is to redesign the tea-ching/learning process based onproviding education that focuseson a wide range of values, skills,and abilities, in addition to thespecific technical aspects of eachindividual course.

During the academic year2002/03, three pilot experienceswere started up for three degree-courses, with the participation ofmore than 140 lecturers in thedegree-course modification pro-cess. Very positive results wereobtained, leading to a higher levelof satisfaction, on the part of boththe teaching staff and the students.The application of the new modelhas been extended to anotherthree degree-courses for the aca-demic year 2003/04.

In the research field, collabora-tion with companies, technologycentres and other institutions wasintensified to develop researchprojects in the different knowled-ge areas affecting the three facul-ties. �

3

Training and EducationTraining and Education

37

OTHER TRAININGAND EDUCATION CENTRES

uring the academic year2002-2003, the Politek-

nika Ikastegia Txorierri had390 students within the statesystem and gave 39 vocationaland in-service training courses(3,890 hours), attended by 570people, mainly people alreadyin work.

The commitment and involvementof people, together with thewidespread use of informationtechnologies, enabled the centreto obtain the “Silver Q” forManagement Quality, awardedby the Basque Governmentthrough Euskalit. Txorierri wasthe first vocational training cen-tre in Bizkaia to receive theaward, after scoring more than400 points in an assessmentbased on the EFQM model.

Lea Artibai Ikastetxea alsohad an excellent year, whichalso culminated in the awardingof the “Silver Q” by the BasqueGovernment, in recognition ofthe centre’s level of managementexcellence. Work was alsocarried out on certifying the foodand polymer laboratories to theISO standard. In the academicfield, the first MU EngineeringCourse in Polymers was giventogether with a number of pos-tgraduate courses.

Overall, the different secondaryeducation, engineering and trai-ning cycles were studied by 741students. The in-service trainingcourses aimed at people in workwere attended by 1,313 wor-kers. 13 business projects werestudied together with the Azaro

D

Foundation. It is hoped that thesewill provide more then 30 newjobs in the area.

CIM (Centro de Idiomas Mon-dragón) had 3,780 students:1,300 in its Academic Division,955 in its Business Division, 850in the Bai&By centre in Vitoriaand 675 in the Bai&By centre inSan Sebastián. It was also awar-ded the “Silver Q” for Manage-ment Excellence by the BasqueGovernment, becoming the firstlanguage school to gain thisrecognition in the BasqueCountry.

In 2003, Arizmendi completedthe merger process started sevenyears ago, leading to the legalconsolidation of the new co-ope-rative. This has required an inter-nal construction, that has meantredefining, completing and deve-loping further the General Fra-mework of the co-operative andreorganising the General Servi-ces (including Personnel, Admi-nistration, Buildings Manage-ment and Maintenance andComputer Services).

The priorities during the yearwere: establishing a unique Edu-cation and Remuneration Systemto meet all requirements andagree a proposal for an earlyretirement plan. Likewise, a via-bility study was carried out forthe co-operative given the newchallenges it has to face. Theaim is to generate a resourcemargin that will enable the newEducational Project proposed tobe tackled, based on co-operati-ve values. A study was alsocarried out of the education offe-red to 0-3 year olds, togetherwith the investment required. �

38

As in previous years, the 17th edi-tion of the Masters Course in Co-operative Management was runwith 12 participants and the aca-demic backing of the BusinessScience Faculty of the University ofMondragón, accounting for 510hours. A Distribution Companymanagement course was also orga-nised for Eroski, with 16 peopleattending and accounting for 200hours per person.

In the Co-operative Training area,two “Ikas” socio-business courseswere run for degree holders, for 24people who had recently joined aco-operative; work continued on theapplication of the “Ordezkari”Social Body Development Systemfor Governing Councils, which wasused by 124 Governing Councilmembers; and 6 courses were runfor 75 Social Council members. The“Bazkide” model for new co-opera-tive members and internal commu-nication was used by 22 Co-opera-tives with 725 participants.

In terms of Internal Communication,the T.U. Lankide magazine conti-nued to be published on a monthlybasis, with a circulation of 10,700copies a month. In the area ofSociological Studies, the PeopleSatisfaction survey continued to beapplied. As far as Co-operative Dis-semination is concerned, informa-tion continued to be given about theCo-operative Experience, witharound 1,200 people visiting Ota-lora to find out about the Mondra-gón Co-operative Movement in situ.

MONE, Mondragon NegozioEskola, was set up by the Univer-sity of Mondragon, LKS and theMCC. It aims to provide manage-ment training and development tohelp managers to carry out theirtasks in the current competitiveenvironment. In 2003, 1,586hours of training were given, withthe participation of 114 managersfrom around one hundred compa-nies.

Among the training activities offe-red, the organisation of an Execu-tive MBA stands out, led by theBusiness Science Faculty of the Uni-versity of Mondragon. In this pro-gramme, in addition to traditionalclassroom sessions, three innovati-ve lines of work were introduced:e-training, individual coachingand a permanent channel of com-munication between participantsand trainers. �

MANAGEMENTTRAINING CENTRES

talora, the Co-operativeand Business Training Cen-

tre, ran a Conversational SkillsDevelopment Programme in itsManagement Development Unit,with the participation of 20 co-operative managers. The coursewent on for 9 months and accoun-ted for 3,100 hours. A High Per-formance Team Development Pro-gramme was also run for the EroskiGroup, with the participation of75 people and accounting for6,000 hours. A two-day Innova-tion Conference was also held,attended by 58 people.

O

39

Financial Statements and Trading AccountEmployment at the MCCOrganisational Structure

Company and Management BodiesList of MCC companies

Financial Statements and Trading AccountEmployment at the MCCOrganisational Structure

Company and Management BodiesList of MCC companies

41

AssetsFixed 3,772 24.6 3,937 24.1 165 4.4

Current 11,565 75.4 12,372 75.9 807 7.0

Total Assets 15,337 100.0 16,309 100.0 972 6.3

LiabilitiesEquity 3,102 20.2 3,281 20.1 179 5.8

External Partners 128 0.8 147 0.9 19 15.0

Long term creditors 2,182 14.3 2,894 17.7 712 32.6

Short term creditors 9,925 64.7 9,987 61.3 62 0.6

Total Liabilities 15,337 100.0 16,309 100.0 972 6.3

Balance Sheet of Mondragón Corporación Cooperativa(After Distribution of Net Surplus) (millions of euros)

HEADING31.12.02

Amount % distr. Amount % distr. Amount %

31.12.03 Annual Variation

his part of the Annual Report offers an overall viewof the Mondragón Corporación Cooperativa, by

presenting the Corporation’s financial statements andtrading account for the end of 2003. Likewise, a compar-ison of these figures with those for the previous yearshows year-on-year developments.

The information given refers to the integrated BalanceSheets for companies that make up the Corporation, aswell as the composition of Value Added generated bythem over the last two years.

To obtain these integrated statements, balances reflectingoperations between the companies that make up the MCChave been offset, and internal economic movements havebeen removed, in order to delimit the actual situation ofthe Corporation as far as its outward appearance is con-cerned.

In relation to 2002 it should be stressed, that in spite of thewithdrawal of Consum, significant advances were made inboth the size of the MCC and its economic results, in bothabsolute and relative terms.

MCC Financial Statements and Trading Account as at 31-12-03

T

MCC's Balance Sheet at 31.12.03showed a total volume ofassets under administration of 16,309 million euros, an

increase of 972 million euros over the year, which is 6.3%in percentage terms.

The Group that contributed most to this growth was theFinancial Group, whose balance, after the adjustmentsmade to consolidate the asset and liability balances of theco-operatives in Caja Laboral, increased by 592 millioneuros, due to the increase in savings attracted and loans

granted to clients by the financial institution.

The most outstanding features of each heading of the bal-ance sheet of the Mondragón Corporación Cooperativa asat 31.12.03 are detailed below:

BALANCE SHEET

42

Fixed Assets

At the end of 2003, the MCC's fixed assets totalled 3,937

million euros, after having increased by 165 million euros

(4.4%) during the year.

Total net investment made during the year accounted for

847 million euros, which was 24% higher than the previ-

ous year. Depreciations applied in 2003 rose to 422 mil-

lion euros, which is 11.9% more than the figure recorded

in 2002.

Current Assets

The current assets heading is the largest element of the net

worth of the Corporation and the one that grew the most

in 2003 in absolute terms (807 million euros), which was

7% in relative terms.

73% of this increase came from the Financial Group, and

was mainly due to Caja Laboral’s bank investment. The

loans granted to clients heading increased the most, with

a rise of 1,059 million euros, mainly in the mortgage loan

area, to the detriment of investment in public debt and

other financial institutions, whose balances fell as they

became less attractive due to the falls in interest rates.

In terms of growth, this Group was followed by the

Industrial Group, which recorded an annual increase of

133 million euros, due to an increase in turnover as part

of the Group’s constant development.

In the Distribution Group the current assets is not espe-

cially important, as it only accounts for 27% of total assets

and is distributed practically evenly between Stock and

the financial accounts. It increased by 59 million euros in

2003.

Equity

The MCC's Equity totalled 3,281 million euros at the end

of the year, with Share Capital accounting for 1,659

million euros and Reserves for the remaining 1,622 million

euros.

During the year Equity was considerably strengthened, as

in spite of Consum leaving it increased by 179 million

euros (5.8%). This increase was due to the profitability for

the year, together with the demanding policy for capitali-

sation of surplus, which is mainly reinvested to self-finance

development. Equity was reinforced by the second issue of

the subordinate financial contributions by the Eroski

Group in 2003, which accounted for 70 million euros.

External Partners

In the last few years the MCC has combined internal

growth with the development of new companies in colla-

boration with external partners, both on the domestic

market and on the international market. This has led to a

gradual increase in the participation of external partners

in joint ventures.

The capital holdings of these external partners are mainly

to be found in companies included in the consolidated sta-

tements of the industrial co-operatives and the distribution

sector. The total for external partners accounted for 147

million euros at 31.12.03, a rise of 15% over the year. This

increase came from the Distribution Group and corres-

ponds to partners remaining in some companies, mainly

Mercat, in which the Group took a majority holding in

2003.

Long-term liabilities

The balance of MCC funding from third parties with a

period of maturity of more than one year underwent

growth of 712 million euros (32.6%) in 2003, to total 2,894

million euros at the end of the year.

The leading role in this increase was played by the

Financial Group, which was responsible for 92% of the

increase. This was due to the considerable increase in Caja

Laboral’s term deposits, reinforced on this occasion by the

issue of mortgage bonds to the value of 300 million euros,

with maturity in 2013.

Short-term liabilities

This balance sheet heading increased quite moderately by

62 million euros (0.6%) during 2003, due mainly to the fall

in sight accounts and short-term deposits in Caja Laboral,

resulting in a 138 million euro reduction in the institution’s

short-term liabilities.

43

Value Added 2,421 100.0 2,598 100.0 177 7.3

Personnel costs (1,413) (58.4) (1,524) (58.7) 111 7.8

Internal Yield 1,008 4.6 1,074 41.3 66 6.6

Financial Costs (251) (10.3) (213) (8.2) (38) (15.1)

Cash flow 757 3.3 861 33.1 104 13.7

Depreciations (377) (15.6) (422) (16.2) 45 11.9

Operating Profit 380 15.7 439 16.9 59 15.5

Transfers and other income (10) (0.4) (28) (1.1) 18 180.0

Surplus on year 370 15.3 411 15.8 41 11.1

In the Industrial Group, there was a 118 million euro incre-

ase (8.7%) in short-term liabilities, in line with the expan-

sion in turnover, whilst in the Distribution Group, the incre-

ase was 5%.

It should also be mentioned that, in addition to traditional

savings, Caja Laboral registered an increase in off-balan-

ce sheet savings schemes, mainly unit trusts and pension

and welfare plans. The balance of these schemes came to

2,788 million euros at the end of 2003, after an increase

of 652 million euros (30.5%) over the year. This significant

increase was due to the good performance of the varia-

ble income market, which boosted the settlement value of

funds possessing shares, whilst attracting new participants,

and the low interest rates in force, which turned savings

away from traditional schemes.

VALUE ADDED

To complete this commentary on the MCC's Balance Sheet,

the following table is offered in which a comparison is

made of the financial statements for the last two years,

after being structured on the basis of the composition of

Value Added.

HEADING

Value added generated by Mondragón Corporación Cooperativa(millions of euros)

2002

Amount % distr. Amount % distr. Amount %.

2003 Annual Variation

The overall Value Added generated by the MCC in 2003

increased by 7.3% to total 2,598 million euros.

The biggest part of this Value Added was generated by

the Industrial Group, which with 1,356 million euros

accounted for 52% of the total. It was followed at a dis-

tance by the Distribution Group with 32%, with the remai-

ning 16% corresponding to the Financial Group.

Personnel Costs rose by 7.8%, due to the considerable

amount of job creation in the MCC. Wages accounted for

58.7% of the Value Added generated, which was a three

tenths higher than the previous year, mainly due to the

adverse effect the slowdown in the economy had on the

use of the Industrial Group’s production capacity.

Financial Costs were contained at 213 million euros, which

was15% lower than in 2002, as a result of the withdrawal

of Consum and the falls in interest rates, which meant that

their absorption of value added fell by 2.1 points, to

8.2%.

44

Company Tax 20 5.4 37 9.0

Education and Coop. Prom. Fund 38 10.3 39 9.5

Interest on Cap. Contr. and Monet. Divds. 101 27.3 108 26.4

Capitalised Profit 211 57.0 227 55.1

Total Surplus on Year 370 100.0 411 100.0

The depreciations applied by the MCC in 2003 totalled

422 million euros, with year-on-year growth of 11.9%, as

a result of the high level of investment. The Industrial

Group accounts for the most depreciations (221 million

euros, 52% of the total), followed by the Distribution

Group (183 million euros, 43% of the total).

After all the expenses have been deducted, a Trading

Profit of 439 million euros was achieved, which was 15.5%

higher than in 2002.

Non-trading income consists mainly of transfers to provi-

sions, profits attributable to external partners and extraor-

dinary results. The figure for 2003 came to –29 million

euros, compared to -10 million euros in 2002.

Therefore, the Final Surplus on the year totalled 411 million

euros, which is an increase of 11.1% compared to the figu-

re recorded in 2002.

The following table briefly summarises how this Surplus

has been distributed compared to 2002.

HEADING

Distribution of Mondragón Corporación Cooperativa Surplus

(in millions of euros)

31.12.02

Amount % distr. Amount % distr.

31.12.03

The first three headings in the table refer to external payments. The last one covers the significant capitalisation of the remaining

Surplus, in the form of co-operative dividends or reserve funds.

45

Communities ManufacturingCompanies Hypermarkets Supermarkets

and othersBank

Branches Jobs

4.101Galicia

541Asturias 635

Cantabria33.450Euskadi

847La Rioja

2.275Aragón

1.229Madrid

1.375Castilla La Mancha

636Murcia

Baleares 3.151Canarias 95

1.715Castilla León

400Extremadura

3.232Andalucía

1.153Valencia

1.700Cataluña

3.661Navarra

(31-12-2003)

The MCC in Spain

Employmentby Communities

Total Employmentin Spain60.196

Andalucía 2 10 95 - 3.232

Aragón 5 2 137 28 2.275

Asturias - 1 21 - 541

Baleares - - 130 - 3.151

Canarias - - 1 - 95

Cantabria 1 2 24 1 635

Castilla y León 1 4 92 51 1.715

Castilla La Mancha 1 4 16 - 1.375

Cataluña 4 4 17 2 1.700

Extremadura - 1 12 - 400

Galicia 3 3 566 - 4.101

La Rioja - 2 48 11 847

Madrid - 2 29 1 1.229

Murcia - 4 8 - 636

Navarra 9 2 90 51 3.661

Valencia 1 5 26 1 1.153

Total without the Basque Country 27 46 1.312 146 26.746

46

Jobs

Geographicdistributionof employment

U.S.A.

Mexico (4)

Mexico (1)

U.S.A.

Mexico (4)

Mexico (1)

Corporate Offices (7)Plants abroad (38)

Italy (2)Italy (2)

U.K. (3)U.K. (3)

Poland (1)Poland (1)

Czech Republic (4)Czech Republic (4)

Iran (1)Iran (1)

India (1)India (1)

India (2)India (2)

China (6)China (6)China (1)China (1)

Thailand (1)Thailand (1)

Germany (2)Germany (2)

Rumania (1)Rumania (1)Turkey (1)Turkey (1)

Russia (1)Russia (1)

Brazil (1)Brazil (1)Brazil (5)Brazil (5)

France (4)France (4)

Morocco (2)Morocco (2)

The MCC worldwide

Basque Country49 %

Rest of Spain 39%

International 12 %

18.744 21.20425.317

42.129

68.260

1983 1988 1993 1998 2003

47

INDUSTRIAL GROUP

Presidency

General Council

CONGRESS

GENERAL COUNCILSTANDING COMMITTEE OF THE CONGRESS

Construction

Components

Automotive

Industrial Equipment

Household Goods

Engineering and Capital Goods

Machine Tools

President: Otaegui, Juan María

Vice-president: Salegui, Francisco

Members: Ajuria, José AntonioAlustiza, José AntonioAndrés, José LuisAnsoategui, Juan JoséArrieta, Juan JoséAstigarraga, Jesús MaríaEsnal, JokinGandarias, José IgnacioGantxegi, JavierIgartua, IñakiLarramendi, José MaríaMadinagoitia, José LuisMarkaide, AgustínMartínez, DanielOruna, AngelTrancho, Alberto

General Secretary: Celaya, Adrián

President: Catania, Jesús

Vice-president: Aldekoa, José MªDacosta, ConstanEcheverría, AntonioGoikoetxea, J.RamónGómez-Acedo, FernandoMaiztegui, JesúsOlasolo, José LuisOtaegui, Juan MªOtaño, Iñaki

Officers: Gárate, José IgnacioGisasola, José MªHerrasti, Jesús MªLaspiur, Miguel AngelUzkudun, Juan Mª

General Secretary: Celaya, Adrián

OrganisationalStructure

Socialand Management Bodies

FINANCIALGROUP

DISTRIBUTIONGROUP

Research, Training and Education Centres

48

José Mª Aldekoa Fernando Gómez-Acedo Constan Dacosta

Antonio EcheverríaJesús Maiztegui José Luis Olasolo Iñaki Otaño

Juan Mª UzkudunJosé Ignacio Gárate

José Mª Gisasola Jesús Mª Herrasti Miguel Angel Laspiur

Adrián Celaya

Juan Mª OtaeguiPresident

of the Congress

Jesús CataniaPresidentof the General Council

General Council

J.Ramón Goikoetxea

49

Banking

CAJA LABORALPº José Mª Arizmendiarrieta s/n20500 Mondragón(Gipuzkoa)Tel.: 34 943 719 500Fax: 34 943 719 778Servicio.de.Atencion.al.Cliente@cajalaboral.eswww.cajalaboral.es

Activities:Banking

CAJA LABORALGESTIONPº José Mª Arizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 790 114Fax: 34 943 790 116www.cajalaboral.es

Activities:Unit trust management

Insurance

LAGUN ARO VIDACapuchinos de Basurto 6-2º48013 Bilbao(Bizkaia)Tel.: 34 944 798 300Fax: 34 944 798 383www.seguroslagunaro.com

Activities:Life insurance

SEGUROSLAGUN AROCapuchinos de Basurto 6-2º48013 Bilbao(Bizkaia)Tel.: 34 944 798 300Fax: 34 944 798 383www.seguroslagunaro.com

Activities:General Insurance

Social Welfare

LAGUN AROPº José Mª Arizmendiarrieta s/n20500 Mondragón(Gipuzkoa)Tel.: 34 943 790 100Fax: 34 943 793 531E-mail:[email protected]

Activities:Social welfare coverfor co-operators

LAGUNARO-MONDRAGONPº José Mª Arizmendiarrieta s/n20500 Mondragón(Gipuzkoa)Tel.: 34 943 790 100Fax: 34 943 793 531

Activities:Joint workplace riskprevention service

BATZ SISTEMASBº Torrea 32-3448140 Igorre (Bizkaia)Tel.: 34 946 305 000Fax: 34 946 305 020E-mail: [email protected]

Activities:Assemblies. Bodyworkassembly.Hand brake levers. Jacks.Pedal units. Rear axles.

CIKAUTXOBº Magdalena 2, B48710 Berriatua(Bizkaia)Tel.: 34 946 137 000Fax: 34 946 137 040E-mail:[email protected]

Activities:Injection moulded and overmoulded parts.Rubber mixes.

CIKAUTXO CZ.Letni,3867PSC 46801Jablone Nad NisouRepública ChecaTel. 00 42 042 8302224Fax 00 42 042 8302239E-mail: [email protected]

Activities:Rubber parts.

PARANOAInd. BORRACHA-CIKAUTXOAv. Casa Grande, 1.731Piraporinha CEP 09961-902 Diadema-SP-(Brasil)Tel. 55 11 40666533Fax 55 11 40666182E-mail:[email protected] has a 21%holding and MCCInversiones a 14%holding.

Activities:Rubber parts.

ECENARROAmilaga Kalea, 1520570 Bergara(Gipuzkoa)Tel. 34 943 769 235Fax 34 943 765 637

Activities:Screws, studs, ball joints and special parts.

FAGOR EDERLANGaztanadui, 4220540 Eskoriatza(Gipuzkoa)Tel.: 34 943 719 000Fax: 34 943 719 001www.fagorederlan.es

Activities:Suspension arms. Knuckles.Mechanism casings. Clutch housings.Gearbox covers.Discs. Drums. Calipers.Cylinder head coversDifferential gearboxes.Gearboxes.

FAGOR EDERLANBRASILEIRARodavia Fernao DiasKm. 887 Cx. postal 15Bairro Ponte AltaCEP 37640-000EXTREMA-MG-BRASILTel.: 55 35 34358200Fax: 55 35 34358248Fagor Ederlan and MCCInversiones have aholding.

Activities:Casting of automotive partsand components.

FAGOR EDERLANBORJAPol. Barbalanca, s/n50540 Borja (Zaragoza)Tel.: 34 976 869620Fax: 34 976 869642E-mail:[email protected] Ederlan has a100% holding.

Activities:Assembly of front suspensioncolumns for cars.

GALDANPol. Ibarra, s/nAlsasua, NavarraTel.: 34 948 563 675Fagor Ederlan has a 50%holding.

Activities:Aluminium die casting.

AUTOMODULOSARAGONPolígono Barbablanca50540 Borja(Zaragoza)Tel.: 976 866 077Fax: 976 866 078

Activities:Assembly of rear axles for cars.

FIT AUTOMOCIONBarrio San Juan, s/nApdo. 8020570 Bergara(Gipuzkoa)Tel.: 34 943 769 044Fax: 34 943 769 156MCC Inversiones andFagor Ederlan have a66% holding.

Activities:Manufacture of brake calipers.

FPKBº San Antolín, 1648170 Zamudio(Bizkaia)Tel.: 34 944 523 605Fax: 34 944 522 156E-mail: [email protected] Inversiones has a50% holding.

Activities:Plastic assembly supports.Engine covers. Noise shields..

LUZURIAGATAFALLATafalla (Navarra)Tel.: 34 948 700 250Fax: 34 948 702 054E-mail:[email protected]

Activities:Cylinder blocks and headsfor engines.

Financial Group Industrial Group

List of MCC Companies

AUTOMOTIVE

50

LUZURIAGAUSURBILC/ Txiki-Erdi20170 Usurbil(Gipuzkoa)Tel.: 34 943 370 200Fax: 34 943 365 564

Activities:Casting of brake housings.

MAIERPol. Ind. Arabieta, s/nApdo. 10348300 Gernika(Bizkaia)Tel.: 34 946 259 200Fax: 34 946 259 219E-mail:[email protected]

Activities:Plastic injection moulding.Die making. Finishes: chrome-plating,screen-printing, heatengraving, painting, laser, etc.

MAIER NAVARRAPolígono Ind. Elordi, s/n31979 Iraizotz-Ultzama(Navarra)Tel.: 34 948 309 210Fax: 34 948 309 333E-mail:[email protected]

Activities:Plastic injection moulding.

MAIER UKChaserwater HeathsIndustrial AreaAttwood RoadBurntwoodWest Midlands WS7 8GJ(Reino Unido)Tel.: 00 44 1543 277460Fax: 00 44 1543 278752E-mail:[email protected] has a 60% holdingand MCC Inversiones a40% holding.

Activities:Plastic injection mouldingand finishing.

CHROMECOLichfield RoadBrownhillsWest Midlands WS8 6LH(Reino Unido)Tel.: 00 44 1543 453333Fax: 00 44 1543 575402Maier has a 60% holdingand MCC Inversiones a40% holding.

Activities:Plastic injection mouldingand finishing.

FERROPLASTPolígono “A Granxa”Parcela 2, Rua 136400 Porriño(Pontevedra)Apdo. 6015 36210 VigoTel.: 34 986 342 020Fax: 34 986 342 999E-mail: [email protected] has a 51%holding.

Activities:Thermoplastic injectionmoulding.

MAPSACtra. Echauri, 1131160 Orcoyen(Navarra)Apdo. 100231080 PamplonaTel.: 34 948 325 011Fax: 34 948 325 323E-mail:[email protected]

Activities:Manufacture of aluminiumwheel rims.Manufacture of water pumphousings.Low pressure and gravitycast aluminium parts.

CONSONNIBº Trobika, s/nApdo. 35E-48100 Munguía (Bizkaia)Tel.: 34 946 156 331Fax: 34 946 156 281 [email protected]

Activities:Sheathed tubular heatingelements for domestic andindustrial uses..

COPRECIAvda. de Alava, 3E-20550 Aretxabaleta(Gipuzkoa)Tel.: 34 943 71 94 99Fax: 34 943 79 23 49E-mail: [email protected]

Activities:Components for gascooking, electric andelectronic cooking, washingmachines, dishwashers andhome comfort.

COPRECI DO BRASILAv. Eurico AmbrogiSantos, 1900 A Distrito IndustrialPiracangaguaCEP 12010-970Taubaté SP BRASILTel.: + 55 12 286-1573 Fax:+ 55 12 286-1553E-mail:[email protected]

Activities:Taps and safety systems fordomestic for gasapplications.

COPRECI MEXICOC/ Uno, nº 736 Z.I.Guadalajara44940 Jalisco MEXICOTel.: + 52 33 3 145 19 63Fax: + 52 33 3 145 10 56E-mail:[email protected]

Activities:Valves for gas barbecuesand taps for domestic gascookers. Valves for gasheaters. Thermostats. Drain pumps.

COPRECISYSTEMS, s.r.l.Via G. Galilei, 1231010-Marenodi Piave (TV)ITALYTel: + 39 0438492531Fax:+ 39 0438492559E-mail:[email protected]

Activities:Gas rails and pipes forcookers and hobs.

COPRECI TURKEYGosbIhsandede Cd. Nº. 135GebzeKocaeli - IstambulTURKEYE-mail: [email protected] www.copreci.comTel.: +902627511334Fax: +902627511325E-mail:[email protected]

Activities:Gas taps for cookersand hobs.

COPRECI CZKomenského 27479368 Dvorce u BruntáluCZECH REPUBLICTel.: + 420 646 74 54 92Fax: + 420 646 74 54 95 E-mail:[email protected]

Activities:Manufacture of taps andsafety systems for domesticgas applications.

EIKAEtxebarria - Apdo. 20E-48270 Markina BizkaiaTel.:+ 34 946 167 732Fax:+ 34 946 167 746 E-mail: [email protected] www.eika.es

Activities:Sheathed heating elements.Electric hotplates. Radiantheating elements andControl Touch for glassceramic hobs.

EIKA MEXICOAv. de las Misiones 10Módulo 7,Parque IndustrialBernardo Quintana 3ª SecciónEl Marqués 76246,QuerétaroMéxico

Activities:Manufacture and sale ofcomponents for electriccooking.

CZEIKAPrùmyslová, 3143/5796 01 ProstéjovCZECH REPUBLICTel: + 420 582 36 04 40Fax:+ 420 582 36 04 00 E-mail: [email protected] www.eika.es

Activities:Electric hotplates.

FOUNDEIKNádrazní, 50 Hlubocky-Mariánské Üdolí 783 66(Rep. Checa)Tel.: 00 420 685067560Fax:00 420 685067800E-mail:[email protected]

Activities:Electric hotplates.

EMBEGAP. I. San Miguel, s/nE-31132 Villatuerta(Navarra)Tel.:+ 34 948 54 87 00Fax: + 34 948 54 87 01 E-mail:[email protected]

Activities:Metallic decorativecomponents for domesticappliances.Membrane switches.Polymeric printed gaskets.

FAGOR ELECTRONICABº San Andrés s/nE-20500 Mondragón(Guipúzcoa)Tel.: + 34 943 71 25 26Fax: + 34 943 71 28 93E-mail:[email protected]@fagorelectronica.eswww.fagorelectronica.com

Activities:Surface and axial mountingDiscrete Semiconductors,HYPERRECTIFIER technology.Analogue and Digital TVreception systems. Home automation. Regulation and controlcircuits for domesticappliances and automotivesector. Wireless communications.

COMPONENTES

51

FAGOR ELECTRONICAComunicacionesInalámbricasCentro de DesarrolloTecnológico Av. de los Castros, s/n E-39005 Santander(Cantabria)Tel. + 34 942 291 400 Fax:+ 34 942 200 921e-mail: [email protected]

Activities:Wireless communications:• Projects based on mobile

communicationstechnologies.

• Projects based on indoor-outdoor wireless accesstechnologies.

FAGORELECTRONICS(THAILAND) LTD.Wellgrow I.E., Bangna-Trad Km 36,82 Moo 5, Bangsamak,Bangpakong,Chachoengsao, 24180THAILANDTel.:+ 66 38 570087-90Fax:+ 66 38 570091 E-mail:[email protected] Electronica has a100% holding.

Activities:Surface and axial mountingDiscrete Semiconductors.

MANCHALANAvda. Castilla LaMancha, 11E-19171 Cabanillas delCampo(Guadalajara)Tel.: + 34 949 33 75 25Fax:+ 34 949 33 75 26 [email protected]

Activities:Assemblies andsubassemblies for domesticappliances and automotive.Plastic injection.

MATZ-ERREKABº de Ibarreta, s/nE-20577 Antzuola(Gipuzkoa)Tel.: 34 943 78 60 09Fax: 34 943 76 63 75E-mail:[email protected]

Activities:Plastic injection.Fixing elements. Automationequipment for doors andshutters.

MATZ-ERREKAMEX*Misión de Bucareli, 8Parque IndustrialBernardo Quintana,El Marqués - 76249QueretaroMEXICOTel.: + 52 442 221 6078Fax: + 52 442 221 6080E-mail: [email protected]

Activities:Plastic injection.

ORKLICtra. ZaldibiaE-20240 Ordizia (Guipúzcoa)Tel.: + 34 943 80 50 30Fax: + 34 943 80 51 85 [email protected]

Activities:Components for safety,regulation and control forwater heating, heating andplumbing, warm cleanwater and fluids.

ORKLI NINGBONan 1 Rd. MeixuIndustrial Zone Yinxian Ningbo 315103 CHINATel: 0574 88482181Fax:0574 88482643 [email protected]

Activities:Safety devices for gasdomestic appliances.

TAJOPolígono Ind. Aranguren s/nBº ArraguaE-20180 Oiartzun (Guipúzcoa)Tel.: + 34 943 26 00 00Fax: + 34 943 49 13 63E-mail:[email protected]

Activities:Plastic injection. Mould construction forplastic injection.

INCOPLASTCarretera Vendrela Sant Jaume dels Domenys,K 143710 Santa Oliva,TarragonaTel.: 34 977 665 481Fax: 34 977 667 977

Activities:Processing of plastics.

Lifts andelevators

ORONAPol. Ind. Lastaola20120 Hernani(Gipuzkoa)Tel.: 34 943 551 400Fax: 34 943 550 047E-mail:[email protected]

Activities:Manufacture andinstallation of lifts andescalators.Maintenance and repair oflifts and escalators.Installation andmaintenance of pedestriandoors.

Structuresand Handling

BIURRARENAPol. BidebitarteDonostia Ibilbidea, 28Apdo. 88720014 Astigarraga(Gipuzkoa)Tel.: 34 943 554 350Fax: 34 943 555 360E-mail:[email protected]

Activities:Machinery: Sale and AfterSales Service for publicworks machineryEnvironment:Design and construction ofsorting and recovery plants(light packaging, RCDs,domestic appliances andother technologies)Underground containers.

ECOTÈCNIAC/Roc Boronat, 7808005 BarcelonaTel.: 34 932 257 600Fax: 34 932 210 939E-mail:[email protected]

Activities:Design, manufacture and maintenance of wind-powered generatorsand wind farms.

ECOTÈCNIAGALICIAPolígono IndustrialParcela B15565 AS SomozasA CoruñaTel.: 34 981 404 090Fax: 34 981 404 473

Activities:Wind-powered generatorsand wind farms.

ECOTÈCNIANAVARRAPol. Ind. de Buñuel,Parcela G.131540 Buñuel(Navarra)Tel.: 94 883 20 12Fax: 94 883 20 59E-mail:[email protected]ècnia has a 25%holding.

Activities:Assembly of wind-poweredgenerators.

CALDERERIATORRES ALTAMIRAPol. Ind. El Pinar, s/n49530 Coreses (Zamora)Tel.: 34 980 500 610Fax: 34 980 500 476E-mail:[email protected]ècnia, MCCInversiones and Urssahave a holding.

Activities:Manufacture of towers forwind-powered generators.

VENDAVALPROMOCIONESEOLICASC/Roc Boronat, 7808005 Barcelona(Barcelona)Tel.: 34 932 257 600Fax: 34 932 210 939E-mail:[email protected]ècnia has a 40%holding and MCCInversiones has a 20 %holding.

Activities:Promotion of wind farms.

ROCHMAN48210 Ochandiano(Bizkaia)Tel.: 34 945 450 075Fax: 34 945 450 257E-mail: [email protected]

Activities:Rollways. Handlinginstallations.Packaging and wrappingmachines.

URSSACampo de los PalaciosApdo. 28401006 Vitoria (Alava)Tel.: 34 945 135 744Fax: 34 945 135 792E-mail: [email protected]/urssa

Activities:Engineering, manufactureof metal structures..

CONSTRUCTION

52


ConstructionWork andMaterials

ETORKIPol. Ind. Murga, 1601479 Murga-Aiala(Alava)Tel.: 34 945 399 072Fax: 34 945 399 223E-mail:[email protected]

Activities:Pine boards and planks.

LANAC/ SantxolopeteguiAuzoa, 2420560 Oñati(Gipuzkoa)Tel.: 34 943 780 111Fax: 34 943 783 222E-mail:[email protected]

Activities:Formwork boards. Boards for furniture. Three-ply boards.Boards for structural use.

Ulma Group

ULMA C y EPº Otadui, 3 Apdo. 1320560 Oñati(Guipúzcoa)Tel.: 34 943 034 900Fax: 34 943 034 920www.ulma.es

Activities:Greenhouses.Construction systems.Packaging systems.

ULMA FORJABº Zubillaga, Apdo. 1420560 Oñati(Guipúzcoa)Tel.: 34 943 780 552Fax: 34 943 781 808www.ulma.es

Activities:Flanges and fittings.

ULMAHORMIGONPOLIMEROBº Zubillaga, 89Apdo. 2020560 Oñati(Guipúzcoa)Tel.: 34 943 780 600Fax: 34 943 716 469www.ulma.es

Activities:Prefabricated elements for construction.

ULMAMANUTENCIONPº Otadui, 8 Apdo. 3220560 Oñati(Guipúzcoa)Tel.: 34 943 782 492Fax: 34 943 782 910www.ulma.es

Activities:Automatic warehousesForklift trucks.

Leisureand sport

DIKARUrarte Kalea, 26Apdo. 193(Pol. Ind. San Lorenzo)20570 Bergara(Gipuzkoa)Tel.: 34 943 765 548Fax: 34 943 760 814E-mail: [email protected]

Activities:Muzzle-loadingsporting guns.

SHANGHAIWINGROUP LEISUREAND SPORTSEQUIPMENT8 Menjin Huangdu Jiading DistrictShanghai, China 201804Tels:(86-21) 59 594 769(86-21) 59 594 169Fax:(86-21) 59 592 187E-mail: [email protected].

Activities:Fitness equipment.

WINGROUPApartado 168Urarte, 1420570 Bergara(Gipuzkoa)Tel.: 34 943 769 056Fax: 34 943 769 178E-mail: [email protected]

Activities:Camping and fitnessequipment.

EREDUOla Auzoa, 420250 Legorreta(Gipuzkoa)Tel.: 34 943 806 100Fax: 34 943 806 374E-mail: [email protected]

Activities:Metal furniture for countryside,beach and garden.Modern furniture for indoor use.

ORBEAPol. Ind. Goitondo48269 Mallabia(Bizkaia)Tel.: 34 943 171 950Fax: 34 943 174 397E-mail:[email protected]

Activities:Bicycles.

TechnicalComponentsand Equipment

AMPOBº Katea, s/n.Idiazabal (Guipúzcoa)Tel.: 34 943 188 000Fax: 34 943 188 130

Activities:Steel casting and spun tubefor industrial valves. AMPO Industrial valves for petro-chemical industry,natural gas, power andaluminium. POYAM .

BECKERAmezketa Bidea, s/n20260 Alegia,GuipúzcoaTel.: 34 943 653 340Fax: 34 943 654 243

Activities:Copper and aluminiumelectric conductors.

EDERFILPol. Industrial, s/n20250 Legorreta(Gipuzkoa)Tel.: 34 943 806 050Fax: 34 943 806 349E-mail: [email protected]

Activities:Electric conductors.

HERTELLPoligono Industrial, 220267 Ikastegieta(Gipuzkoa)Tel.: 34 943 653 240Fax: 34 943 653 332E-mail: [email protected]

Activities:Manufacture of vacuumpumps, valves andaccessories for cisterns.

IRIZARSan Andrés, 620216 Ormaiztegi(Gipuzkoa)Tel.: 34 943 809 100Fax: 34 943 889 101E-mail: [email protected]

Activities:Luxury long- and medium-distance coach bodywork.

IRIZAR DO BRASILRodobia Mal. Rondon,Km. 252,5CEP 18603-970Botucatu-SP-BrasilTel.: 55 14 68028000Fax: 55 14 68028001E-mail: [email protected]

Activities:Coach manufacture.

IRIZAR TVSTrichy Road, Viralimalai621316 Tamil Nadu(India)Tel.: 00 91 4339 20393Fax: 00 91 4339 20236E-mail:[email protected]

Activities:Coach bodywork.

IRIZAR MAGHREBOulja, Km 0.300Sal-e - MoroccoTel.: 212 7 81 01 15Tel.: 212 7 81 01 13


IRIZAR MÉXICOParque Ind. BernardoQuintanaParcelas 7 al 12-Manzana14Municipio El MarquésQueretaro-MéxicoTel. 00 52 42 382500Fax 00 52 42 215395E-mail:[email protected]


HISPACOLDAutovía Sevilla-Málaga,K 1,841016 Sevilla(Sevilla)Tel.: 34 954 677 480Fax: 34 954 999 728Participada al 65% porIrizar


MASATSCarretera Bruc a Manresa08240 ManresaApdo. 171 (Barcelona)Tel.: 34 938 352 900Fax: 34 938352 920Irizar has a 52% holding.


TIANJIN IRIZARCOACH218 Hong QiNankai DistrictTianjin (China)Tel.: 86 022 761 3041Fax: 86 022 761 3345Irizar has a 36% holding.


INDUSTRIALEQUIPMENT

53

UROLAUrola-Kalea, s/nApdo. 320230 Legazpia(Gipuzkoa)Tel.: 34 943 737 003Fax: 34 943 730 926E-mail:[email protected]@urola.comwww.urola.com

Activities:Construction of blowingmachines for themanufacture of hollowthermoplastic bottles.Manufacture of blowingmoulds. Plastic extrusion.Plastic injection moulding.Plastic blowing. Plasticinjection moulding-blowing.

IndustrialServices

ALECOPLoramendi, s/n20500 Mondragón(Gipuzkoa)Tel.: 34 943 712 405Fax: 34 943 799 212E-mail: [email protected]

Activities:Technical educationalequipment. Prefabricatedelectrical installations.

PRODESOUribe Auzoa, 10202500 Mondragón(Gipuzkoa)Tel.: 34 943 712 630Fax: 34 943 711 717E-mail: [email protected]

Activities:Education and trainingsystems. Consultancy andtechnical assistance ineducation. Teaching material.Technological researchcentres. Company creationand innovation centres.General consultancy.

ALKARGOBº Belako, s/nApdo 10248100 Mungia (Bizkaia)Tel.: 34 946 740 004Fax: 34 946 744 417E-mail: [email protected]

Activities:Distribution transformers.Medium-power transformers.Autotransformers. Dry encapsulatedtransformers.

COINALDEConcejo, 1001013 Vitoria(Alava)Tel.: 34 945 264 288Fax: 34 945 253 997

Activities:Nails. Wire. Metal mesh.

ELKARLarrondo BehekoEtorbidea, Edif. 448180 Loiu(Bizkaia)Tel.: 34 944 535 205Fax: 34 944 535 776E-mail: [email protected]

Activities:Industrial catalogues. Books. Advertising leaflets.Annual Reports. Magazines.Graphic products in general.

LITOGRAFIADANONAPol. Ugaldetxo, s/n20180 Oiartzun(Gipuzkoa)Tel.: 34 943 491 250Fax: 34 943 491 660E-mail: [email protected]

Activities:Catalogues. Magazines.Books. Posters. Leaflets. Annual Reports.

ROTOK INDUSTRIAGRÁFICAPol. Industrial Txirrita-Maleo. Pabellón 11Pol. Ugaldetxo, s/n20100 Renteria(Gipuzkoa)Tel.: 34 943 344 614Fax: 34 943 524 767E-mail: [email protected] Inversiones has a 37%holding and Keslan, Danonaand Elkar a 38% holding.

Activities:Printing.

OIARSOBº Zikuñaga, 57-FPolígono Ibarluze20128 Hernani(Gipuzkoa)Tel.: 34 943 335 020Fax: 34 943 335 210E-mail:[email protected]

Activities:For the health sector:Infusion equipment.Transfusion equipment.Catheters. Epicraneals.Enteral nutrition. Parentaral nutrition.Accessories andconnectology. Probes.Anaesthesia equipment. Anti AIDS kit.

OSATUTravesía de Padure, s/n48240 Berriz(Bizkaia)Tel.: 34 946 225 399Fax: 34 946 225 391E-mail:[email protected]

Activities:Electro-medical equipment:Basic defibrillators, withmonitor and recording, withpacemakers andpulsioximetry,semiautomatic.

Domesticappliances

DANUBEParq D’Activités deSologne, BP 1941600 Lamotte-BeuvronTel.: 33-2-548 80 576Fax: 33-1-549 68 904Fagor has a 60%holding.

Activities:Industrial ironing machinesand dryers.

DOMUSABº San Esteban, s/n20737 RégilAptdo. 95 - 20730AzpeitiaTel.: 34 943 813 899Fax: 34 943 815 666

Activities:Individual boilers.

EDESACervantes, 4548970 Basauri(Bizkaia)Tel.: 34 944 667 100Fax: 34 944 495 096www.edesa.mcc.es

Activities:White goods.

EDESA HOSTELERIAPolígono San MilansC/Can Milans, 1308110 Moncada IReixach, BarcelonaTel.: 34 935 651 130Fax: 34 935 750 342

Activities:Food preparation products.

FAGORELECTRODOMESTICOSBº San Andrés, s/nApdo. 4920500 Mondragón(Gipuzkoa)Tel.: 34 943 719 100Fax: 34 943 796 881E-mail:[email protected]

Activities:Cookers. Ovens. Extractorfans. Microwave ovens. Air conditioning. Fridges andfreezers. Washing machines.Dryers. Dishwashers. Water heaters. Boilers.Storage heaters. Kitchen unitsand kitchenware.

ELCO-BRANDT7 Rue Henri Becquerel92854 Rueil-MalmaisonCedex-FranceTel.: 331 471 666 06Fagor Electrodomesticos hasa 10% holding.

Activities:Manufacture of domesticappliances.

EXTRAELECTROMENAGERAvenue Hassan IIBP 179 Mohammedia(Marruecos)Tel.: 212 2 3327412Fax 212 2 3327425Fagor Electrodomésticoshas a 100% holding.


GEYSER GASTECHBº San Juan s/nApdo. 15120570 Bergara (Gipuzkoa)Tel.: 34 943 769 004Fax: 34 943 767 136Fagor Electrodomesticoshas a 50% holding.

Activities:Gas water heaters.

WROZAMETZmigrodzka 143 St.Wroclaw (Polonia)Tel. 00 48 713 244 542Fax 00 48 713 253 363E-mail: [email protected] Inversiones andFagor Electrodomesticoshave a 75.96% holding.


Furniture

COINMAVitoriabidea 4-Z.I.Ali - Gobeo01010 Vitoria (Alava)Tel.: 34 945 241 616Fax: 34 945 240 637E-mail: [email protected]/coinma

Activities:Office furniture.

COINMA INDIA41, Sector 18, UdyogVihar, Gurgaon122001 Haryana (India)Tel.: 91 124 6348245Fax: 91 124 6346870E-mail:[email protected]

Activities:Furniture for the homeand office.

DANONAAnardi Area, 2Apdo. 4220730 Azpeitia(Gipuzkoa)Tel.: 34 943 815 900Fax: 34 943 151 481E-mail:[email protected]

Activities:Veneered and melaminelounge furniture.Veneered and melaminedining room furnitureVeneered and melaminebedroom furnitureVeneered and melamine chil-dren’s bedroom furnitureUpholstered sofas.

HOUSEHOLD GOODS

54


CommercialEquipment

FAGORINDUSTRIALSantxolopetegui, 22Aptdo. 1720560 Oñati(Gipuzkoa)Tel.: 34 943 718 030Fax: 34 943 718 181E-mail:[email protected]

Activities:300 to 3,000 dishes/hourdishwashers.Glass washers. 7-10-14-25-50 kg. washing machines.Ranges. Brat pans.Convection and combisteamers (gas and electric).Fryers. Fry-tops.Commercial refrigeration.

FAGOFRICtra. Córdoba-Málagakm. 814900 Lucena(Córdoba)Tel.: 34 956 516 179Fax: 34 957 515 621Fagor Industrial has a51% holding.

Activities:Refrigeration equipment.

KIDEPol. Gardotza, s/n48710 Berriatua(Bizkaia)Tel.: 34 946 833 510Fax: 34 946 833 133E-mail:[email protected]

Activities:Insulated panels and doors for coldrooms,cold stores and miniboxes.

TALLERES ROCAPolígono Industrial LaQuintana08514 San Juliá deVilatortaBarcelonaTel.: 34 938 122 790

Activities:Manufacture and sale ofmachinery and accessoriesfor the catering industry.

Automationand Control

FAGORAUTOMATIONBº San Andrés s/nApdo. 14420500 Mondragón(Gipuzkoa)Tel.: 34 943 719 200Fax: 34 943 791 712E-mail: [email protected]

Activities:Numerical control system(CNC). Digital readouts.Linear and rotarytransducers. Feed andheadstock regulators. Feed and headstock motors.

EngineeringandConsultancy

LKSPº José Mª Arizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 770 335Fax: 34 943 771 012E-mail:[email protected]

Activities:Consultancy:Management Advice.Specific solutions. Trainingin Strategy, Quality andContinuous Improvement,Marketing, Organisationand Human Resources,Industrial Engineering and Logistics, Economic-Financial matters. Account auditing.Telecommunicationsengineering.

LKS CDEEGeneral Arrando, 40-3º28010 MadridTel.: 34 913 191 299Fax: 34 913 198 102E-mail:[email protected], LKS, S.Coop have a73% holding.

Activities:Engineeringand consultancy.

LKS IAMMAlmda. Doctor Areilza,56 -1º Centro48010 BilbaoTel.: 944 702 080Fax: 944 701 107 E-mail:[email protected] has a 60% holding.

Activities:Market research.

SEILe Forum64116 Bayonne CEDEX(Francia)Tel.: 33 559 580 000Fax: 33 559 580 199E-mail: [email protected] and AIC have a100% holding.

Activities:Computing and softwaredevelopment.

I3SPlaza del Museo,1-3º48009 BilbaoTel.: 34 944 241 993Fax: 34 944 238 348MSI, MCCInversiones andAIC have a 51%holding.

Activities:Consultancy and sale of computer services.

LKS INGENIERIAPº José Mª Arizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 712 488Fax: 34 943 793 878E-mail: [email protected]

Activities:Engineering consultancy.Industrial design. Civil engineering. Building.

LKS INTELCOMPolígono Basabe FO, 2ª p.20550 Aretxabaleta(Gipuzkoa)Tel.: 34 943 712 451Fax: 34 943 712 351E-mail: [email protected] Ingenieria, MSI andAIC have a 100%holding.

Activities:Engineering,Telecommunications.

EDE INGENIEROSParque empresarial InbisaEdificio C. Polígono Aurrera M848510 Trapagarán(Vizcaya)LKS Ingeniería has a 70%holding

Activities:Consultancy and energysupplies, Cogeneration,Installation and processengineering.

MACLAPlaza de Escabazábal, 8-6º31600 Burlada (Navarra)Tel.: 34 948 363 456Fax: 34 948 136 694LKS Ingeniería has a46% holding.

Activities:Civil engineering.Construction engineeringTown planning adviceEnvironmental advice.

LKS TASACIONESPol. Basabe, Edificio F20550 Aretxabaleta(Gipuzkoa)Tel.: 943 712 100Fax: 943 797 735E-mail: [email protected] Ingenieria has a90% holding.

Activities:Property valuation.Property advice. Property management.

LKS STUDIOAlmagro, 15 - 5ª planta28010 Madrid (Madrid)Tel.: 917 022 474Fax: 917 022 475E-mail: [email protected] Ingenieria and AIChave a 60% holding.

Activities:Building projectmanagement.

INDISERPlaza AlférezProvisional, 3 entreplanta26001 Logroño(La Rioja)Tel.: 941 221 318Fax: 941 226 558E-mail:[email protected] Ingenieria has a100% holding.

Activities:Winery projectengineering.

MSIMONDRAGONSISTEMAS DEINFORMACIONAma kandida, 21 (Denac)20140 Andoain(Gipuzkoa)Tel.: 34 943 594 400Fax: 34 943 590 536E-mail:[email protected]@msi.mcc.es

Activities:Computer systems andservices.

ENGINEERING ANDCAPITAL GOODS

55

ONDOANParque Tecnológico Edif. 101 módulo C48170 Zamudio(Bizkaia)Tel.: 944 522 313 Fax: 944 521 047E-mail: [email protected]ón en Gipuzkoa:Polígono Basabe, F0520550 Aretxabaleta(Gipuzkoa)Tel.: 943 771 587Fax: 943 771 684E-mail: [email protected]

Activities:Design and development of:Engineering projects and sitemanagement, carrying outand maintenance of generalinstallations, emergency andself-protection plans andturnkey systems.Environmental Consultancyand Advice Service.Workplace Risk PreventionConsultancy and AdviceService. Maintenance andRepair of generalinstallations in industrialbuildings and services.

ONDOANSERVICIOSParque Tecnológico Edif. 101 módulo C48170 Zamudio(Bizkaia)Tel.: 944 522 270Fax: 944 521 047Ondoan, S. Coop. has a100% holding.

Activities:Installation maintenancemanagement.

MONDRAGONCONETIturroz, 21 bajo20500 Mondragón(Gipuzkoa)Tel.: 943 712 727Fax: 943 711 750E-mail:[email protected] has a 62% holdingand MCC Desarollo a38% holding.

Activities:Connectivity and contentservices.

Formingand Assembly

BATZTROQUELERIABº Torrea 32 - 3448140 Igorre(Bizkaia)Tel.: 34 94 6315 707Fax: 34 94 6315 566E-mail:[email protected]

Activities:Die manufacture.

MATRICIPolígono Ugaldeburu II48170 Zamudio(Bizkaia)Tel.: 34 946 002 020Fax: 34 944 522 225

Activities:Engineering, design andmanufacture of tooling, fordrawing and plate work,for car bodywork.Complete package projects,integrated turnkey servicesincluding overall design(concurrent engineering,simulation, prototypes, solidand 3D design,manufacture, high speedmachining, assembly andfine tuning) andcommissioning of tooling atthe client’s plant.

MATRICI SISTEMASPolíg. Indust. IgeltzeraIgeltzera, 848610 Urduliz(Bizkaia)Tel.: 34 944 030 626Fax: 34 944 030 627

Activities:Sheet metal assembly and welding systems.

Formingmachinery

AURRENAKVitorialanda 15Ali - Gobeo01010 VitoriaTel.: 34 945 244 850Fax: 34 945 246 912E-mail:[email protected]

Activities:Tooling for different ironand aluminium castingtechnologies in theautomotive sector.

FAGOR ARRASATEBº San Andrés, 20Apdo. 1820500 Mondragón(Gipuzkoa)Tel.: 34 943 719 999Fax: 34 943 799 677E-mail: [email protected]

Activities:Presses and stampingsystems.Strip processing systems.Systems for continuousmanufacture of complexmetal parts.Welded tube and sectionmanufacturing systems.Transfer, progressive andconventional dies.Engineering and consulting.

GUILLETRechbergstrasse, 2971127 Gaüfelden,AlemaniaTel.: 49 703 297 9621Fax: 49 703 297 9621

Activities:Design and manufacture oftransfer and peripheralsystems for presses.

FAGOR SISTEMASPolígono IndustrialBainetxe, Pab. 5-A20550 AretxabaletaTel.: 34 943 712 080Fax: 34 943 712 210E-mail: [email protected]

Activities:Automatic assemblysystems.Robotics.

MONDRAGONASSEMBLY(Catalunya)Ronda Industria 22-2408210 Barberá delVallés (Barcelona)Tel.: 34 937 192 143Fax: 34 937 187 018E-mail:j.bolea@mondragón-assembly.comFagor Sistemas has a60% holding.

Activities:Automatic assemblysystems.

MONDRAGONASSEMBLYALEMANIAWinterspürer Strase 19D-78333 StockachTel.: 49 777 187 73-0Fax: 49 777 187 73-29E-mail: [email protected]


MONDRAGONASSEMBLYFRANCIASite d’OrangeParc d’Activités LesPradines1376, R. N. 7 route deLyon84100 OrangeTel.: 33 490 111 660Fax: 33 490 511 [email protected] Sistemas has a99% holding.

Site de Compiègne84. rue des LonguesRayes60610 La Croix SaintOuenTel.: 33 344 915 200Fax: 33 344 910 [email protected]


ONA-PRESPol. IndustrialUgaldeguren IIBº San Antolín, s/n48170 Zamudio(Bizkaia)Tel.: 34 944 523 808Fax: 34 944 523 980E-mail:[email protected]

Activities:Hydraulic presses.

Machine Tools(Cutting)

DANOBATArriaga kalea, 21Apdo. 28E-20870 Elgoibar(Gipuzkoa)Tel.: 34 943 748 044Fax: 34 943 743 138E-mail:[email protected]

Activities:Grinding machines: CNC,cylindrical, exteriors andinteriors, flat surfaces,bridge and special for theaeronautical sector.Horizontal and verticalsawing machine withstorage systems.Lathes: CNC, lathe centres,vertical.

DANOMAR3400 CLUJ Napoca -ROMANIA B-dulMunciiNr 14PO.Box1404Tel.:0040-64-415006Fax.:0040-64-415047

Activities:Ancillary industry formachine tools.

NEWALL UK Ocean House, NewarkRoadPeterboroughPE1 5UA, UKTel.: 44 (0) 1733 894 050Fax: 44 (0) 1733 892 040E-mail: [email protected]

Activities:Grinding machines for theaerospace industry andretro-fitting.

MACHINETOOLS

56


OVERBECKKonrad Adenauer Strasse27D-35745 Herborn,AlemaniaTel.: 49 2772 801-0Fax: 49 2772 801-153E-mail: [email protected] www.overbeck.de

Activities:Cylindrical interior andcombined interior/exteriorgrinding machines.

D+S SISTEMASApraiz Kalea 1,Apdo. 199E-20870 Elgoibar(Gipuzkoa)Tel.: 34 943 748 050Fax: 34 943 743 767E-mail:[email protected]

Activities:Special and transfermachines. Flexiblemachining lines. High speed horizontalmachining centres.

ESTARTA Sigma IndustrialdeaXixilion kalea, 2, Pab. 10Apdo. 147E-20870 Elgoibar(Gipuzkoa)Tel.: 34 943 743 705Fax: 34 943 741 758E-mail:[email protected]

Activities:Construction of centrelessgrinding machines.

GOITIArriaga Kalea 1Apdo. 80E-20870 Elgoibar(Gipuzkoa)Tel.: 34 943 748 023Fax: 34 943 748 144E-mail:[email protected]

Activities:CNC sheet metal punchingmachines.CNC punching machineswith shears included.Laser cutting machines.Automatic press brakes andflexible bending andpunching systems.Punching tools.Combined punchingmachine

LEALDEBarrio Kortazar s/n Apdo. 11E-48.288 Ispaster (Bizkaia)Tel.: 34 946 844 004Fax: 34 946 844 130E-mail:[email protected]

Activities:Horizontal CNC lathes.Lathes for fluid valves.

SORALUCEBº OsintxuApartado 90E-20570 Bergara(Gipuzkoa)Tel.: 34 943 769 076Fax: 34 943 765 128E-mail:[email protected]

Activities:Moving column millingcentres. Fixed bed CNCmilling machines. Machining centres. Gantry machining centresand milling machines.

DANOBAT-BIMATEC LimburgTel.: (49) 643 197 820Fax: (49) 643 171 [email protected]

Activities:Milling machines.

Machinery forWood, Toolingand Fixtures

DOIKIPol. Ind. Goitondo 548269 Mallabia(Bizkaia)Tel.: 34 943 171 600Fax: 34 943 174 273E-mail:[email protected]

Activities:Dimensional verificationtooling. High precisionmechanics. Electronic,pneumatic and mechanicalgauges. Machining fixtures.

EGURKOBasusta Bidea, 9Apdo. 2520750 Zumaia(Gipuzkoa)Tel.: 34 943 860 100Fax: 34 943 143 107E-mail:[email protected]

Activities:Machinery for wood. Edge veneering machines.Profiling machines.Combined veneering +profiling machines. Sanding machines.

LATZAvda. de los Gudaris, s/nApdo. 5620140 Andoain(Gipuzkoa)Tel.: 34 943 592 512Fax: 34 943 591 391E-mail:[email protected]

Activities:Standard HSS, HSSCo and solid carbide drills.Special HSS, HSSCo and solid carbide tools.

ORTZAPol. Areta, s/n31620 Huarte-Pamplona(Navarra)Tel.: 34 948 330 438Fax: 34 948 330 002E-mail:[email protected]

Activities:Machinery for wood.Equalising and sectioningsaws. Machining centres.

Distribution

EREIN COMERCIALPol. Ibur Erreka, s/nApdo. 24220600 Eibar (Gipuzkoa)Tel.: 34 943 208 544Fax: 34 943 208 [email protected]

Activities:Marketing of food productsto the catering trade andcollectives.

EROSKIBº San Agustín, s/n48230 Elorrio (Bizkaia)Tel.: 34 946 211 211Fax: 34 946 211 222E-mail:[email protected]

Activities:Retailing in small and largestores: Fruit and vegetables,meat and cold meats, fish,dairy products, groceries,drinks, frozen food, sundriesand cleaning materials,textiles, domestic appliances,leisure articles, do-it-yourself,sound and vision,kitchenware, travel andpetrol.

FORUM SPORTBº Kortederra, s/n48340 Amorebieta(Bizkaia)Tel.: 34 946 300 094Fax: 34 946 300 760E-mail:[email protected] Eroski Group has a52% holding.

Activities:Shopping and SportsCentres.

EROSMERBº San Agustín, s/n48230 Elorrio (Bizkaia)Tel.: 34 946 211 211Fax: 34 946 211 222The Eroski Group has a78,07% holding.

Activities:Retailing of consumerproducts in large stores.

Agricultural-food

AUZO-LAGUNUribarri Auzoa, 1320500 Mondragón(Gipuzkoa)Tel.: 34 943 794 611Fax: 34 943 794 366E-mail:[email protected]

Activities:Catering. Cooked dishes.Cleaning of buildings andpremises.Complete service for thehealth care sector.

COMISLAGUNPadre León, 9Alaquas- ValenciaTel.: 34 961 988 016Fax: 34 961 515 907E-mail:[email protected] has a 73.4%holding.

Activities:Catering for groups.Complete service for healthcare sector.

JANGARRIAKatuarri, 20Ansoain- NavarraTel.: 34 948 140 192Fax: 34 948 131 892Auzo-Lagun has a 100%holding.

Activities:Catering for groups.Complete service for healthcare sector.

Distribution Group

57

BARRENETXEOkerra, 748270 Markina (Bizkaia)Tel.: 34 946 168 143Explot. Berriatua:Tel.: 34 946 139 157Explot. Etxeberria:Tel.: 34 946 166 173E-mail:[email protected]

Activities:Horticulture in greenhousesand the open air.

BEHI-ALDEOlaeta-Aramaiona(Alava)Apdo. 44 (Mondragón)Tel.: 34 945 450 100Granja: 34 945 450 100

Activities:Milk. Livestock for breedingand meat.

GSRUribe Auzoa, 1320500 Mondragón(Guipúzcoa)Tel.: 34 943 712 164Fax: 34 943 712 165E-mail:[email protected]

Activities:Residential servicemanagement.

MIBACtra. Etxebarria, s/n48270 Markina(Vizcaya)Tel.: 34 946 167 884Fax: 34 946 167 886Olaeta-Aramaiona(Alava)Granja:34 945 450 259

Activities:Compound feeds. Small agricultural machinery.Fertilisers and seeds.Phytosanitary products.Veterinary service.

MULTIFOODBº Uribarri, 13 A20500 Mondragón(Guipúzcoa)Tel.: 34 943 711 960Fax: 34 943 711 961

Activities:Ready-prepared food.

UNEKELBarriada de Berrio, s/n48230 Elorrio (Bizkaia)Tel.: 34 946 167 884Fax: 34 946 167 886

Activities:Breeding of rabbits.

ResearchCentres

AOTEKBarrio San Andrés s/nApartado 220500 MondragónTel.: 34 943 039805Fax: 34 943 [email protected]

Activities:Automation and optics.

IDEKOArriaga kalea, 2Apdo. 8020870 Elgoibar(Gipuzkoa)Tel.: 34 943 748 000Fax: 34 943 743 804E-mail:[email protected]@ideko.eswww.ideko.es

Activities:Development of andinnovation in machine toolsand systems. Productdevelopment. Improvementof production processes.Technical support.Technology monitoring.

IKERLANJosé María Arizmendiarrieta, 2Apdo. 14620500 Mondragón(Gipuzkoa)Tel.: 34 943 771 200Fax: 34 943 796 944E-mail:[email protected]

Activities:Contracted R&D projects forthe development of newproducts or for theimprovement of productionprocesses.Mechatronics: electronicsand technical design andproduction systems.Energy: rational use ofenergy, renewable energy.

KONIKERPol. Ind. Bainetxe 5ª20550 AretxabaletaTel.: 34 943 039 360Fax. 34 943 039 [email protected]

Activities:R&D in forming and assembly.

LORTEKBarrio La Granja s/n20240 OrdiziaTel.: 34 943 882 303

Activities:Joining technologies.

MODUTEK, S. COOP.Edificio, 105Parque Tecnológico48170 Zamudio(Bizkaia)Tel.: 946 420 9601Fax: 946 420 9602E-mail:[email protected] has 6.6%holding, Maier a 26.7%holding, Batz a 16.7%holding and FundaciónMCC a 50% holding.

Activities:Automobile moduleengineering anddevelopment centre.

MIKUribarri Etorbidea, 3Apartado 7920500 Mondragón(Gipuzkoa)Tel.: 34 943 719 191Fax: 34 943 793 999E-mail:[email protected]

Activities:Business managementresearch centre.

MTCMAIER TECHNOLOGYCENTREPol. Ind. Arabieta48300 Gernika(Bizkaia)Tel.: 34 946 259 265Fax: 34 946 259 258E-mail:[email protected]

Activities:Research and developmentin automotive assembliesand components made withthermoplastics. Developmentof new technologies.

ORONA EICPolígono Lastaola, s/n20120, Hernani,GuipúzcoaTel.: 34 943 551 400Fax: 34 943 550 047

Activities:Lifts and elevators..

ULMA PTCBº Garibai, 28Apartado 14520560 Oñati,GuipúzcoaTel.: 34 943 039 350Fax: 34 943 039 [email protected]

Education andTraining Centres

ARIZMENDILarrin Plaza, 120550 Aretxabaleta(Gipuzkoa)Tel.: 943 793 132Fax: 943 797 922E-mail:[email protected]

Activities:Education.

CIM (AHIZKE)Avenida de Alava, 420500 Mondragón(Gipuzkoa)Tel.: 34 943 712 055Fax: 34 943 712 181E-mail: [email protected]

Activities:Language training.Translation and interpretingservice.

ETEOESCUELA UNIVERSITARIAESTUDIOS EMPRESARIALESLarraña, 3320560 Oñate(Gipuzkoa)Tel.: 34 943 781 311E-mail:[email protected]

Activities:Training in businessadministration.

GOIERRIGranja Auzoa, s/n.20240 Ordizia(Gipuzkoa)Tel.: 943 880 062Fax: 943 880 176E-mail:[email protected]

Activities:Education.

RESEARCH,

EDUCATION AND

TRAINING CENTRES

58


HUMANITIESAND EDUCATIONSCIENCE FACULTY20540 Eskoriatza(Gipuzkoa)Tel.: 34 943 714 157Fax: 34 943 714 032E-mail:[email protected]

Activities:University Teacher TrainingCollege.

LEA-ARTIBAIAvda. Jemein, 1948270 Markina(Bizkaia)Tel.: 34 946 167 552Fax: 34 946 166 674www.leartik.com

Activities:Technical education.

MONDRAGONESKOLAPOLITEKNIKOAC/Loramendi, 420500 Mondragón(Gipuzkoa)Tel.: 34 943 794 700Fax: 34 943 791 536E-mail: [email protected]


MONDRAGONUNIBERTSITATEAC/Loramendi, 420500 Mondragón(Gipuzkoa)Tel.: 34 943 794 700Fax: 34 943 791 536E-mail: [email protected]

Activities:University education.

MONESantamarina s/n20560 Oñate,GuipúzcoaTel.: 34 943 717 026Fax: 34 943 717 059E-mail: [email protected]

Activities:Business School.

OTALORAPalacio OtaloraBarrio Aozaraza s/n20550 Aretxabaleta(Gipuzkoa)Tel.: 34 943 712 406Fax: 34 943 712 338E-mail:[email protected]

Activities:Co-operative and businesstraining.

TXORIERRIPOLITEKNIKA IKASTEGIAUntzaga Ibaia kalea, 148016 Derio (Bizkaia)Tel.: 34 944 034 060Fax: 34 944 034 061E-mail:[email protected]


Support Bodies

ATEGIIturriotz, 27 - 2º20500 Mondragón(Gipuzkoa)Tel.: 34 943 711 930Fax: 34 943 773 101E-mail: [email protected]

Activities:Purchasing portal.

FUNDACION MCCArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 300Fax: 34 943 796 632E-mail: fundació[email protected]

Activities:Promotion of the socialeconomy.

MCCINVERSIONESArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 300Fax: 34 943 796 632

Activities:Company promotion.

MCC DESARROLLOPº José MaríaArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 300Fax: 34 943 796 632www.mondragon.mcc.esMCC Inversiones andCaja Laboral have a23.75% holding.


MCC INNOVACIONPº José MaríaArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 300Fax: 34 943 796 632www.mondragon.mcc.es

Activities:Funding of technologicalprojects.

MCC NAVARRAAvda. Carlos III, 36-1ºPamplona(Navarra)Tel.: 34 943 421 942Fax: 34 943 421 943MCC has a 25%holding.


MCC SUSTRAIArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 77 93 00Fax: 34 943 79 66 32

Activities:Property management.

InternationalServices

MCC INDIA1110, Eleventh Floor,International TradeTowerNehru Place,New Delhi110019 - IndiaTel.: +9111 622 1964Fax: +9111 623 1612E-mail:[email protected]

Activities:Corporate office.

MCCINTERNACIONALArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 300Fax: 34 943 796 632E-mail: [email protected]

Activities:International businesspromotion.

MCC MEXICOHoracio 1213,Colonia Polanco,C.P. 11550 México D.F.MéxicoTel.: +52 55 5545 3930Fax: +52 55 5531 5172E-mail:[email protected]


MCCMONDRAGON-BRASILAlameda Santos 2.335,7º andar, Cj.71 CEP 01419-002Sao Paulo-SP-BrasilTel.: 55 11 3082 3336E-mail:[email protected]


MCC MOSCU-CEILeninsky Prospekt, 113/1Park Place, Office E-1001Moscow, Russia 117918Tel.: +70 95 156 5307Fax: +70 95 156 5307E-mail: [email protected]


MCC USA1775 PensylvaniaAvenue, N.W.10th Floor,Washington, D.C. 20006USATel.: +1 202 463 7887Fax: +1 202 861 4784E-mail:[email protected]


MONDRAGONBEIJINGRoom 926, GoldenLand Building32 Liang Ma QiaoRoad, ChaoyangDistrict,100016,Beijing, P.R.ChinaTel.: +8610 6464 3681Fax: +8610 6464 3680E-mail:[email protected]


MONDRAGONZAGROSArizmendiarrieta, 520500 Mondragón(Gipuzkoa)Tel.: 34 943 779 354Fax: 34 943 796 632E-mail: [email protected]

Activities:Commercial and Industrialservices.

SUPPORT BODIES

AND INTERNATIONAL

SERVICES

59

Mondragón, 20 May 2004

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2003 Annual Report - Mondragon Corporation€¦ · Eskola Politeknikoa, Politeknika Ikastegia...

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