The MONDRAGON Corporation’s total assets were close to €3.97bn (660bn pesetas) and equity was already in excess of €1.2bn. At 31st December, Lagun Aro was providing health care and benefits to 19,967 members and 46,616 family beneficiaries.
Fagor Arrasate won the biggest order in the history of the machine tool sector, more than €20m for the manufacture of four automated stamping systems for Volkswagen Seat. The proposal to take over Victorio Luzuriaga, approved first of all by the Governing Councils, was submitted for final approval to the Annual General Meetings of Fagor Ederlan and the Fagor Group.
The co-operative Soraluce signed acontract with ITP for the manufacture of a flexible machining system for turbojet engine parts. ITP provided its aeronautical industry technology and Soraluce its knowhow in machining with flexible systems.