Gestamp appoints a new Finance Director

Gestamp, the multinational company specialized in the design, development and manufacture of highly engineered metal components for the automotive industry, has agreed to appoint Miguel Escrig as its Finance Director. With this decision, the Group strengthens the organization to continue to accomplish its future growth plans.

Miguel Escrig holds a degree in Industrial Engineering and a Master in Business Administration (MBA) from IESE Business School (Barcelona). He has spent most of his professional career at Telefónica where he was the Group’s Financial Director between 2010 and 2016. Prior to Telefónica he held several positions in the banking sector in companies such as JP Morgan, Banco Santander and Banco Popular.

Escrig replaces Francisco López Peña as Finance Director, who held the position since 2008 and was appointed Chief Executive Officer (CEO) of Gestamp last December.

Organizational changes announced in December 2017

Gestamp, which made its debut as a publicly listed company on April 7th 2017, announced the appointment of Francisco López Peña as its new CEO at the end of 2017. He has assumed the oversight of the industrial operations within the Group, finance direction and other corporate duties.

Francisco J. Riberas role as Executive Chairman of Gestamp remains unchanged. Mr Riberas focuses on the Strategy and Corporate Development, as well as key commercial relationships with Gestamp’s customers. He also leads Corporate Governance issues and institutional representation of the Group.

About Gestamp Automoción

Gestamp is an international group dedicated to the design, development and manufacture of metal automotive components. The Group specializes in developing innovatively designed products to achieve increasingly safer and lighter vehicles, thereby reducing energy consumption and environmental impact.

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Gestamp launches its first hot stamping plant in India

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Gestamp, a Spanish multinational company specialised in the design, development and manufacture of metal components for the automotive industry, has launched a new plant specialised in hot stamping in Pune (India). The company has invested €36 million in the new facility that will provide services for Fiat Chrysler Automobile (FCA), Ford and Tata.

The company announced this investment at the Symposium on International Automotive Technology (SIAT) which was held in Pune. The new plant, the construction of which has been completed, has begun to manufacture previous series and is scheduled to begin serial production in May this year.

The new Pune plant will employ 130 people in 2017 and will involve the introduction of hot stamping in the country. The launch of this technology in India by Gestamp will enable the latter to provide much of its industrial capabilities in this market.

Loire Gestamp, a company from the Group specialising in the design and manufacture of press lines, has installed in the new plant a hot stamping line with a 1,200 ton press, incorporating automatic connections for changing tools, thermal imagers and a monitoring system.

In this regard, the Chairman and CEO of Gestamp, Francisco Riberas, remarked: “The installation of a technology such as hot stamping is synonymous with the confidence our company has in a very dynamic market such as India’s, in which regulatory changes aiming to improve the safety of vehicles in case of collision will demand new solutions from manufacturers and suppliers.”

The third Gestamp plant in India

Gestamp’s new plant in India is the third in this market, where €150 million have been invested since the group’s arrival in 2008. In addition, the company has an R&D centre in which work is carried out to lighten the weight of vehicles, thereby increasing their safety.

The Spanish multinational is already working with Ford, Volkswagen Skoda, Renault Nissan and FCA in India. Since Gestamp began operations in India, its turnover has increased almost nine-fold, from €19 million in 2008 to €157 million in 2015.

The Indian automotive market is the sixth largest market worldwide. It has experienced, according to IHS, a year-on-year increase in production volume of 8.7% since 2008. This growth is more than double the global growth accumulated during the same period, situated at 3.9%.

A global provider in hot stamping

Hot stamping is one of the solutions that allow manufacturers to reduce the weight of the body in white structure, resulting in reduced emissions. In addition, the hot stamping process improves the vehicle’s behaviour in case of collision and contributes to passenger safety.

Gestamp is one of the world’s largest providers of parts made by hot stamping, with an industrial model that covers the entire value chain, including press lines and dies manufacturing.

The company has more than 70 hot stamping lines around the world. Thanks to this technology, the weight of body in white parts is reduced by up to 30%.

Via Gestamp press release