AMPO HAS HELD THE REGULAR GENERAL ASSEMBLY

AMPO has held today, saturday, the Regular General Assembly in its corporate headquarters located in Idiazabal. Most of the people have attended this meeting, including some retirees, as well as students who are carrying out their internships or developing their End of Degree projects at AMPO. The assembly has also been attended by some members of AMPO INDIA.

At this Assembly, approval has been given by shareholders to 2018 year management, while approving the Annual Accounts and the Management Report, as well as the Social Management of the year 2018 and the Non-Financial Information Report of the company.

As a result of a 35 million euros investment plan, AMPO launched in 2018 a new machining plant in Idiazabal with a 22 million euros investment to strengthen its foundry branch and in order to be able to offer high added value components and more complex geometries to its customers. One year before, in 2017, AMPO strengthened also its valve design and manufacturing business unit with the opening of a new valve manufacturing plant in Coimbatore, India. During today’s General Assembly, the Managing Director of AMPO INDIA has presented the consolidation and the smooth running of this plant, which is continuously growing.

It should be noted that AMPO has been able to face the oil & gas industry crisis over the last two years (to which allocates around 80% of its sales), with an important recovery in all its business units; the foundry, the valves branch as well as AMPO SERVICE. Whole of them have moreover growth forecasts for 2019, as a result of the current Strategic Plan that promotes diversification, multi-location, digital transformation, etc.

Consequently, the focus of the assembly has been placed on the future of the company, sharing and presenting the key projects that will enable the company to continue being a reference in the market. During the regular meeting, the following ideas have been presented, among other things; the redesign of the valve manufacturing plant layout based on LEAN manufacturing, an internationalization plan based on new international implementations and the expansion of the sales network, digital transformation, product, service and industry diversification, a strong introduction on the subsea industry, where technical requirements are very high, etc. In general, a future full of great challenges that will make AMPO move forward and further improve its market positioning.