Their Royal Highnesses King Juan Carlos and Queen Sofia visited the MONDRAGON co-operatives on 9th December. Received by the Basque Prime Minister, Juan José Ibarretxe, the President of the MCC General Council, Jesús Catania, and other authorities, they proceeded to place the foundation stone for the Garaia Innovation Park, and to inaugurate in Garagarza the new Fagor Electrodomésticos facilities.
The Annual General Meeting of Fagor Electrodomésticos approved on 25th March, with the favourable vote of 83% of members (2,045), the 100% takeover of Brandt, a French domestic appliance firm of a similar size to Fagor. This was a decision aimed at strengthening its future development. Fagor Arrasate, a manufacturer of presses, systems and production engineering, won an order worth €13m from the Argentine company MB Ciganotto. The following firms were turned into co-operatives: the Gipuzkoabased Becker, a manufacturer of electric conductors; and the Vitoriabased Loramendi, a manufacturer of machinery for casting and assembly. As the result of a decision of the Basque Government, the Lagun Aro health care system entered a phase of abolition. In terms of prizes and awards, Fagor Industrial and Fagor Minidomésticos were awarded the Gold Q by Euskalit.
Jesús Larrañaga, (third from the right in Fagor Electrónica inauguration event) passed away on 7th May 2004. He was one of the five founders of the Co-operative Experience.