ANNUAL 2014REPORT m Wer are WWWE ARE INDEX P04 P12 P23 01. MANAGEMENT REPORT 04.MANAGEMENT ACTIVITY 07. BUSINESS ADDRESS AND AFFILIATES P06 P18 02.GROUP DEVELOPMENT 05.SOCIAL RESPONSIBILITY P08 P22 03.AUDIT REPORT 06.SOCIAL ORGANS AND DIRECTORS 01. MANAGEMENT REPORT

The global GDP for the year 2014 grew 3.4%, non-strategic international subsidiaries. International and in accordance with the cooperative solidarity with a change in the situation for emerging and sales of the ULMA Group grew 2% to €513 million commitment, there were 87 people relocated within developed economies in relation to the previous and they represent 77% of total product and service the ULMA Group. The majority of these people were year. Emerging economies performed worse than sales. from structural unemployment records at Fagor expected therefore, in relation to the ULMA Group, Electrodomésticos. highlighting the negative impact of the development Without a doubt, this huge effort we have been making of Latin America and in particular (due to the year after year with regards to the improvement of From a financial point of view, the ULMA GROUP, problems it is undergoing) and Mexico (as it did not our international position and the diversification of with a Debt/EBITDA ratio of 1.7, is in a healthy manage to meet the expectations that were set for risk has served to compensate the reduction in the position, affording it significant power when facing this market). Considering developed economies, the contribution of the interior market. Interior market future challenges. good performance of the USA and the national market sales reached €152 million, which means a decrease is underlined. Other important markets for the ULMA of 15% on the previous year’s figures and which For 2015, ULMA Group businesses would like to Group that have not behaved as expected are amounts to seven years of decline from €376 million commence an expansion and growth plan based (which has suffered delayed growth) and Russia and in 2007, prior to the beginning of the crisis. on international expansion, innovation and new its surrounding area (due to political problems and promotional activities, in addition to being as the effects of the price of oil). The results compiled by the ULMA Group show prepared as possible in order to take advantage of the a profit of €19.2 million, significantly improving opportunities that will certainly present themselves The national market continues to shrink although the on the €8.6 million noted in 2013. With this latest in the market. In order to do this, discussions with rate at which it was shrinking has slowed. Market figure, the ULMA Group has enjoyed four years of financial entities have commenced for the purpose uncertainty and credit access problems have improved continued positive results. The extensive commitment of achieving the necessary financial support for this and is being noted in investment decisions. Turnover to internationalisation along with a boost to expansion project in the coming years. is improving but the existing excess capacity in the competitiveness through cost reduction, innovative majority of sectors means that margins have still not development and the adaptation of our products and Nevertheless, the ULMA Group has planned to recovered. services to the demands of the customer have resulted increase the 2015 sales levels to €719 million, where in a significant improvement in business margins. international sales will amount to around 80% of Considering all these circumstances when evaluating the Group’s total sales. However, for the first time in the business performance of the ULMA Group, we At the close of the tax year, the number of individuals in the last eight years, a decrease in the contribution of must say that 2014 has been very satisfactory. During the employment of the ULMA Group increased to 4324 interior market sales is not expected. An improvement the tax year, the ULMA Group achieved consolidated people, which is a decrease of 29 people in relation in these results is expected due to a rise in activity as sales of €664 million, which is practically a repetition to 2013 due to the aforementioned disinvestments. well as a slight increase in the level of employment. of the previous year’s figures, and this is despite the The percentage of cooperative partners of the total negative impact derived from the disinvestments number of individuals employed in cooperatives in performed by the business of ULMA Construction in 2014 was ranked at 86%. On 31 December 2014,

Iñaki Gabilondo. General Director of the ULMA Group

4 5 TOTAL SALES INTERNATIONAL SALES 02.GROUP DEVELOPMENT MILLIONS OF EUROS TOTAL INTERNATIONAL 2011 704 476 2012 675 492 2013 680 502 2014 665 513 2015 719 565 PREVISION

INVESTMENTS CASH FLOW MILLIONS OF EUROs MILLIONS OF EUROS

2011 60 2011 102,5 2012 57,7 2012 100,3 2013 49,5 2013 85,7 2014 29,9 2014 88,3 2015 40 2015 91,0 PREVISION PREVISION

PORTFOLIO OF ORDERS AVERAGE HEADCOUNT MILLIONS OF EUROS No OF PERSONS

2011 106 2011 4.211 2012 117 2012 4.229 2013 135 2013 4.353 2014 136 2014 4.318 2015 148 2015 4.308 PREVISION PREVISION

6 7 03.AUDIT REPORT

8 9 03. AUDIT REPORT

GRUPO COOPERATIVO ULMA GRUPO COOPERATIVO ULMA COMPILED BALANCE SHEETS AT 31 DECEMBER 2013 AND 2012 COMPILED BALANCE SHEETS AT 31 DECEMBER 2014 AND 2013 (Expressed in thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, (Expressed in thousands of Euros) (Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails) the Spanish-language version prevails)

ASSETS 2014 2013 EQUITY 2014 2013 Property, plant and equipment 342,531 375,881 Members’ contributions 155,024 157,622 Goodwill 22,028 24,200 Subordinated financial contributions 25,486 24,601 Other intangible assets 8,164 8,713 Reserves 164,802 172,136 Investment property 4,695 6,456 Other comprehensive income (12,588) (14,721) Non-current financial assets 36,964 33,873 Retained earnings 18,900 6,282 Derivative financial instruments 486 1,406 Deferred tax assets 26,335 27,703 Equity attributed to equity holders of the Parent 351,624 345,920 TOTAL NON-CURRENT ASSETS 441,203 478,232 Non-controlling interests 24,030 24,769 Unpaid calls on members’ contributions 123 448 Inventories 139,429 114,243 TOTAL EQUITY 375,654 370,689 Derivative financial instruments 495 1,212 Trade and other receivables 228,299 219,945 LIABILITIES 2014 2013 Other current financial assets 9,606 8,649 Cash and cash equivalents 38,266 32,641 Financial liabilities - members 6,659 6,283 Bonds, loans and other interest-bearing liabilities 141,302 180,072 TOTAL CURRENT ASSETS 416,218 377,138 Associates 810 1,526 Derivative financial instruments 1,237 4,240 TOTAL ASSETS 857,421 855,370 Government grants 6,270 7,332 Provisions 7,840 8,271 Deferred tax liabilities 13,885 13,704

TOTAL NON-CURRENT LIABILITIES 178,003 221,428

Financial liabilities - members 8,521 8,537 Loans and other interest-bearing liabilities 115,041 95,059 Associates 3,807 2,810 Trade and other payables 163,783 144,762 Derivative financial instruments 3,337 1,834 Current tax liabilities 4,247 2,363 Provisions 5,028 7,888

TOTAL CURRENT LIABILITIES 303,764 263,253

TOTAL LIABILITIES 481,767 484,681

TOTAL PATRIMONIO NETO Y PASIVO 857,421 855,370

10 11 04.MANAGEMENT ACTIVITY

TECHNOLOGY INNOVATION AND DEVELOPMENT – We continue to advance in the development of the fleet manager along with other companies, within the TREX programme of the European Union. ULMA AGRÍCOLA – The G12 model has been developed. This is a greenhouse model of greater width, free of obstacles, and with ULMA CONSTRUCTION greater air volume. After the relevant load calculation – New vertical LGW formwork. studies (wind, snow and farming) were carried out, the – Improved heights for better options in self-climbing prototype was designed and set up. The first sale was formwork. made in the Mexican market and the client, after the – Important progress in the development of CVS carriages first farming cycle, notified us of an improvement in and MK carriages for tunnels in construction work. the interior climate of the greenhouse by around 3-4 – The new corporate website is available on the new degrees in comparison with 9-metre models. platform along with five websites of subsidiaries (, Brazil, Poland, Peru, Mexico).

ULMA ARCHITECTURAL SOLUTIONS – SPF: ULMA CONVEYOR COMPONENTS Development of Creaktive range. – HDC Product: Improvement in Gel-Coat application during manufacturing. New HDA seal industrialised. Achievement of DIT Facades certificate. – MDC Product: – SPC: Tube axle developed to improve weight. Development of ULMABlock range. – Painting Process: Achievement of KOMO quality certificate. Painting processes developed for high corrosion – SPE: resistance with providers. SPE resin standardisation. Formulation alternatives. ULMA HANDLING SYSTEMS – Creation of Technological Factories (SGA, Set-up, OTP, Automatic, JdT). ULMA FORKLIFT TRUCKS – Strengthening of the innovation structure: PM of – We should highlight the change in business model in Vehicles, Software Technologies Product Manager, battery regeneration activity, having left workshop Innovation Technician and Netherlands subsidiary. activity and focussed on the development and – SAT: commercialisation of equipment such as the Battery Full cover of the built-in AUTO 38. Regeneration System and pulses. – IK Pal Patent: Product launch plan.

12 13 04. MANAGEMENT ACTIVITY

ULMA PACKAGING INTERNATIONALISATION ULMA CONSTRUCTION May. – Market launch of traysealing machines TSA 680 and – The active sale operation in Canada should be - USA: Decision regarding opening of own commercial TSA 875. highlighted along with the positive development of office in Houston. – In the vertical wrappers line, interesting applications have ULMA AGRÍCOLA business in markets such as Chile, Brazil, Mexico and - Standardisations: Plan to approach Exxon, Chevron, been developed such as an empty bell and air extraction – Intensification of efforts to hire a salesperson in the the USA, and the strong increase in direct sales from the BP and Shell. for chicken products, amongst others. Furthermore, Caribbean area. parent company. – EPC the automatic change of reel and the anti-irregularities – Official opening of the SHOWROOM in OÑATI at the - Russia: Approach of Russian market through local with equipment sales have been consolidated. The new annual managers’ convention in February with a valve manufacturers. continuous closed machine project has also begun. ULMA ARCHITECTURAL SOLUTIONS completely international focus. - China: Plan to hire a local delegate. – In Thermoforming, the validation of the Darfresh – SPC: - Norway: Search for a local sponsor to introduce us application has been completed by Sealed Air and the Improvement of the international order-delivery process in Statoil. commercialisation of the corresponding models has at SPC. ULMA CONVEYOR COMPONENTS commenced. We have continued to advance with more Consolidation in Brazil. – CHILE and PERU: complex machines focussed on demanding clients. – SPE: Subsidiaries launched and teams formed between local – Our UPC control system has been applied on new Continuing to explore the special pieces route in . and displaced staff. product lines. Working on contacts made in Angola. – PERU: Exploring possibilities of sales in . Standardisations achieved in key mines. – SPF – BRAZIL: – GERMANY: ULMA PIPING New projects in Rio de Janeiro and São Paulo. Standardisations achieved in key mines. – Development of mechanical/structural calculation with ISOLA external wall system. Ikerlan for spectacle blinds and swivel flanges. – SPF - LATAM: – Technological collaboration project with Matz Erreka for Colombia, Peru, Chile: Distribution Agreement. ULMA HANDLING SYSTEMS the torque calculation for flange unions. Mexico: Delegation and Distribution Agreement. – BH expansion (recruitment in India and Africa). – Product development of Subsea/Off Shore: TreeCaps. – SPF - EUROPE: – Launch of promotional figures in the South American Italy, Romania, Croatia: Distribution Agreement. market. Others: Prospectively Latvia, Bulgaria, Turkey, India, Korea, China. ULMA PACKAGING – Increase in international sales. ULMA FORKLIFT TRUCKS – Expansion of the commercial network in Asia. – We have strengthened links with one of the top – Contact made to establish/consolidate the commercial maintenance equipment hirers in France, Aprolis, by network in Northern Africa and the Middle East. collaborating in the sale of used forklifts, exchanges in low-cost countries and the incorporation of new products in our range. ULMA PIPING – Achieved 50% billing for ULMA Inoxtruck in exterior – Distribution: markets. - Mexico: Opening of new subsidiary in Mexico City in

14 15 04. MANAGEMENT ACTIVITY

MANAGEMENT MODEL on 1 January 2015. SOCIAL MODEL – For the second consecutive year, a 270º Evaluation of our team leaders in Matriz-España has been carried out. We ULMA AGRÍCOLA performed this evaluation for the first time with team ULMA ARCHITECTURAL SOLUTIONS – Establishment of weekly inter-department project leaders in Poland and Brazil. – Launch of leadership and shared vision programme. follow-up meetings. – HR international management. – HR employability and development. ULMA CONVEYOR COMPONENTS – Launch of superior training. ULMA ARCHITECTURAL SOLUTIONS – PROCESS MANAGEMENT: – OFFER MANAGEMENT: Working with BANPRO on key and advanced processes. New management and commencement of strategic – STRATEGIC REVIEW: ULMA FORKLIFT TRUCKS reflection on an internal level and internationalisation. The review of the Management and Business Strategy – Organisational Culture Survey performed for the first – AXAPTA: has commenced. time in the Otalora corporate centre. Conclusion of process integration in Axapta. Documentary management of the process on the Axapta base. ULMA HANDLING SYSTEMS ULMA CONSTRUCTION International integration of Axapta in Brazil as a – Design and launch of the new organisational model (LN, – The progress made with the Euskara Plan should be management tool. centralised production and innovation). highlighted as well as the consolidation work done in – Design and launch of the internal communication this regard. process. ULMA FORKLIFT TRUCKS – Development of support means (creation of international – Development of an important management tool that group) to aid implementation in the international area. ULMA HANDLING SYSTEMS enables current awareness of our hire park. – CD and CR leadership training. – Development of stock regulations. ULMA PACKAGING – Renewal monitoring audits ISO 14.000, ISO 9.000 ULMA CONSTRUCTION – Progress with our management model based on the OSHAS 18.000. – In 2014, we continued to work on the strategies and continuous improvement model and indicators. objectives defined in the Strategic Plan. The model is being – Online quality system consolidation. implemented. Proof of this is the great progress seen in – Internal promotion monitoring. ULMA PACKAGING the value of the parent company in key aspects such as – Improvement in systematic training. strategic marketing. For example, the development of – Advancements in occupational hazard prevention. the high work acquisition strategy – using self-climbing ULMA PIPING systems – which, directed and coordinated from the – Extension and obtainment of standardisations in final parent company, is enabling us to win benchmark projects clients for special nickel-based materials. ULMA PIPING in many markets. – Standardisation process in NORSOK and in API. – Special emphasis on raising awareness of safety and the – Implementation of innovation forums in strategic – Standardisation in GAMESA of rings for the wind power culture of prevention. subsidiaries along with new market data sheets, which industry. – Organisational culture analysis. are key elements for assessing our competitiveness. – Review of production planning system to adapt to – Launch of the processes team within the Organisational project management: integration of Lazkao. Area. – New process for the 2014-2018 Strategic Plan. – Culmination of the BAAN Poland Project with its launch

16 17 05.SOCIAL RESPONSIBILITY

SOCIAL COMMITMENT EMPLOYMENT

The fact we have continued to be involved in a period of In 2014, we continued with the active management of continued effort to guarantee our business stability has situations of unemployment in which some of our cooperatives not been an excuse to neglect the social commitment that are involved, although, fortunately, the intensity of this characterises us and to which we continued to be committed. management has seen the number decrease considerably If anything, during this period of added difficulties, having thanks to the consolidation of many relocations and the general remained loyal to this commitment demonstrates, to our improvement of business activity. However, we shall continue understanding, an even greater value. Our mission and our to keep up the good work in order to resolve the few remaining values are what guides us when it comes to defining the new pending cases as soon as possible. social and business goals we use to look towards the future. On the other hand, the effects of the closure of Fagor Despite having achieved positive results on a group level Electrodomésticos have been noted in terms of employment once again in 2014, we continue to experience different but, once again, MONDRAGON cooperatives, though the realities according to cooperative when these results are Employment Table that was specifically established in light of broken down. Where the situation is still not desirable, we this issue, have shown solidarity that has resulted in a significant continue to employ collective effort measures (economical absorption of the impact of this problem in employment in and employment measures) that are a significant means of the region. In particular, the ULMA Group has enabled the helping us to continue advancing through this long tunnel relocation of external partners to the Group itself, in addition through which we are currently passing. On the other hand, to providing an internal solution to our own surplus. At the it is also true that, in general, a tendency for improvement end of the year, there were 114 individuals relocated within and stabilisation of the situation can be seen. The cohesion the group (business and corporately), of which, 27 were ULMA and solidarity of ULMA Group cooperatives were, and have Group partners, with six Group individuals being relocated in continued to be in 2014, excellent levers for achieving this other nearby cooperatives. positive development from an internal point of view. This has been demonstrated not only on a results level, but also Over the course of the year, the level of employment decreased in the great improvement in the issue of employment in the overall by 29 people (in contrast with the increase of 129 Group to the point that we are already managing very few people in tax year 2013). Therefore, we continue to have a ratio cases and we have even become the recipients of individuals between employment at the parent company and subsidiaries displaced by other cooperatives in the total balance of of around 50/50, specifically 51.3% in the parent company relocations. and the rest in subsidiaries. The expected trend for the coming years is for the generation of employment in our parent companies to reactivate once the worst of the crisis has been overcome and with the outlooks for growth we have outlined, especially in subsidiaries but mainly in those with potential for growth. Regarding employment in the parent company, we should highlight that more than 84% of posts correspond to cooperative partners.

18 19 05. SOCIAL RESPONSIBILITY

COMPLETE PERSONAL DEVELOPMENT IN THE of overall individual health awareness on a collective level in What has been confirmed is the non-recoverable donation with the remaining €424,000 being distributed through COOPERATIVE FRAMEWORK OF ACTIVE PARTICIPATION order to establish a starting point for the development of amounting to around €505,000 on behalf of the ULMA the ULMA Foundation. These resources were allocated improvement programmes. Group to different corporate funds that attend to education, to promotional and inter-cooperation projects (56.4%), Continuing with the systematic established several years investigation and development projects, compensation for Planes de Euskera (8.9%) and social and cultural promotion ago, cooperative training plans specifically aimed at Regarding the promotion of health and safety, the Izan the loss of cooperatives from the MONDRAGON Industrial projects, NGOs, aid organisations and support for education, governing and social organisations have been developed Osasuntsu programme has been recognised with the Group, and social, cooperative and professional training. investigation and development organisations (28.1%), with in 2014, in addition to welcome plans for new corporate Gosasun seal, which is a result of the effect implementation This amount has been compensated through the amounts the remaining 6.6% going to MU Enpresagintza as part of recruits. On the other hand, a cooperative training and development of health programmes that involve the received as compensation for the losses suffered by some a five-year commitment to finance the new Oñati Campus. programme for all partners has been introduced in one commitment of their target group in relation to assuming cooperatives, which rose to €158,000, noticeably less than of the Group’s large cooperatives and, for the second responsibility for the health and safety improvement the amounts destined to the aforementioned funds in the Despite the total amount shared being important, it is also consecutive year, two partners have been sent to objectives through the development of personal and last year. true that, given the profits of Group cooperatives being undertake the post-graduate course in cooperativism at collective skills and responsibilities in health management, considerably reduced in recent years and consequently the University of Mondragón. Periodical organisational safety, self-care and personal development. the COFIP fund also being reduced, the total amounts culture surveys continue to be carried out in all cooperatives COMMITMENT TO SOCIETY that we have had in recent years have been significantly with action plans derived from the results of these surveys. Furthermore, a study on the efficiency of vegetal ethanol in – ULMA FOUNDATION less. We must add that the number of entities requesting Cooperative leadership is beginning to have an effect in individuals with hypercholesterolmia was undertaken. collaboration is increasing, meaning management of these some cooperatives. The aim of these training plans is to On the other hand, we have continued to collaborate with With the introduction of some new features to the funds is becoming more and more complicated. In any develop a constructive cooperative culture with special Osarten, Osalan and the Basque Occupational Medicine programme, 2014 has seen the reorganisation of diverse case, and in spite of the aforementioned circumstances, the emphasis on the promotion of cooperative leadership, Society in the development of different training projects and activities aimed at different interest groups of the ULMA ULMA Foundation continues to collaborate with more than active participation and internal communication. The medical protocols. Group (partners and active employees, retired partners, 120 organisations today. central services of the ULMA Group are undertaking the educational centres, society in general, etc.). We should coordination to ensure that all Group cooperatives advance highlight the regular photography contest for partners, in the same direction, therefore progressively developing a INSTITUTIONAL SOLIDARITY the crafts course for their children and various solidarity common group culture. activities. On the other hand, as we are committed to our Within the participation framework of the ULMA Group as regular commitment to environmental entities and society in a division of ULMA-Industrial Systems in the MONDRAGON general, and with the clear aim of fulfilling the foundational OCCUPATIONAL HEALTH AND SAFETY Corporation, the most notable aspect has been the active goals of the ULMA Foundation, the management of the participation in the review of the future of MONDRAGON. Contribution for Education and Cooperative Promotion During 2014, actions aimed at increasing the level of was undertaken throughout 2014 as well as other Public awareness regarding occupational risk prevention have With regards to the donations to funds established in Interest Objectives (COFIP), generated from the results of been developed in different cooperatives with the aim that ordinary regulation, in the area of patrimonial support we cooperatives that recorded profits in 2014. The distribution each person who constitutes the ULMA Group will act in the continue to await an agreement being reached regarding of this fund is done according to criteria established by the necessary manner to achieve this mission. the new financial instruments of solidarity with which the Foundation Board: criteria that involve a balanced distribution Corporation shall be supplied. The aforementioned review of the fund to diverse entities that request our collaboration. In occupational medicine, individual health awareness will continue in 2015 and, amongst other aspects, this is The total amount allocated in 2014 was €732,000, of which objectives have been covered by commencing the diagnostics one of the important areas that will be reviewed. €307,000 were channelled via MONDRAGON Corporation,

20 21 06.SOCIAL ORGANS 07. BUSINESS ADDRESS AND DIRECTORS AND AFFILIATES

EXECUTIVE COUNSEL GENERAL MANAGEMENT MANAGERS GRUPO ULMA ULMA ARCHITECTURAL SOLUTIONS

PRESIDENT MANAGING DIRECTOR ULMA AGRÍCOLA GRUPO ULMA, S. Coop. ULMA Hormigón Polímero, S. Coop. Raúl García Iñaki Gabilondo Alberto Galdos Bº Garagaltza, 51 - Post office box 22 Bº Zubillaga, 89 - Post office box 20 20560 Oñati (Gipuzkoa) 20560 Oñati (Gipuzkoa) VICE-PRESIDENT FINANCIAL AREA ULMA FORKLIFT TRUCKS Tel.: 943-250300 Tel.: 943-780600 Iñaki Medina Javier Orbea Ángel Sánchez Fax: 943-780917 Fax: 943-716469 Web: www.ulma.com E-mail: [email protected] TECHNICAL SECRETARY PROMOTION AREA ULMA CONSTRUCTION E-mail: [email protected] Eli Anduaga Rafa Amasorrain Aitor Ayastuy ULMA BETAO POLÍMERO, LDA. ULMA EMBEDDED SOLUTIONS, S. Coop. Zona Industrial Vale de Figueira, Rua A, s/n COUNSELLORS SOCIAL MANAGEMENT AREA ULMA CONVEYOR COMPONENTS Bº Garagaltza, 51 Vale de Figueira Aitor Berraondo Raúl García Egoitz Jiménez 20560 Oñati (Gipuzkoa) 2695 Sao Joao da Talha Asier Egaña Tel.: 943-250300 Lisboa (Portugal) Ander Yarza BRAND AND COMMUNICATION AREA ULMA HANDLING SYSTEMS Fax: 943-780917 Tel.: 35 1 912306272 Iñigo Querejeta Carlos Sarabia Josetxo de Frutos E-mail: [email protected] Isabel Sánchez ULMA BÉTON POLYMÈRE Ismael Malbadi OCCUPATIONAL HEALTH AREA ULMA ARCHITECTURAL SOLUTIONS 62 Av. du 8 Mai 1945 Javier Conde Iñaki Igarzabal Juan Jesús Alberdi 64100 Bayonne (France) Javier Leturiaga ULMA AGRÍCOLA Tel.: 34 943 78 06 00 Jon Ander Aramendi ULMA PACKAGING Lander Díaz de Gereñu Cecilio Lejarreta ULMA Agrícola, S. Coop. ULMA PREFABRICADOS EM MINERAL Máximo García Barrio Garibai, 9 - Post office box 50 COMPOSITE LTDA. Miguel Pastor ULMA PIPING 20560 Oñati (Gipuzkoa) Al Joaquim Eugenio Lima 680 Patxi Barrena Asier Oyarbide Tel.: 943-034900 Andar 4 CJ44 Unai Perosterena Fax: 943-716466 Jardim Paulista E-mail: [email protected] Sao Paulo (Brazil) www.ulmaagricola.com Tel.: +55 11 3042 2043

ULMA CONSTRUCCIÓN Y AGRÍCOLA DE ULMA ARCHITECTURAL SOLUTIONS MÉXICO, S.A. DE C.V. Piazzale Biancamano, 8 Gorrión 23 Col. Las Arboledas, 20121 Milano (MI) (Italy) Cp.- 54030 Tlalnepantla, Tel.: 34 943 78 06 00 (State of Mexico). Tel. - Fax:(55)1113 2469 / 11132038 ULMA PREFABRICADOS EN CONCRETO POLIMÉRICO SA D CV Monte Pelvoux No. 111 || Floor 2 Suite 12 11000 Lomas de Chapultepec (México D.F) Tel.: 52 (1) 55 13 63 0600

22 23 07. BUSINESS ADDRESS AND AFFILIATES

ULMA FORKLIFT TRUCKS ULMA CONSTRUCTION ULMA CONSTRUCCION POLSKA S.A. ULMA FORMWORK UKRAINE LTD. Koszajec 50 3, Derevoobrobna St. ULMA Servicios de Manutención, S. Coop. ULMA C y E, S. Coop. 05-840 BRWINÓW (Poland) 01013 KYIV (Ukraine) Ps. Otadui, 8 - Post office box 32 Ps. Otadui, 3 - Post office box 13 Tel.: +48 22 506 70 00 Tel.: + 380 44 255 14 92 20560 Oñati (Gipuzkoa) 20560 Oñati (Gipuzkoa) Fax: +48 22 814 31 31 Fax: + 380 44 255 14 94 Tel.: +34 943-718033 Tel.: + 34 943-034900 Fax: +34 943 783502 Fax: +34 943-034920 ULMA PORTUGAL LDA. ULMA ANDAMIOS Y ENCOFRADOS ARGENTINA, S.A. E-mail: [email protected] E-mail: [email protected] Zona Industrial-Rua Fontes Pereira de Melo nº 8 Bernardo de Irigoyen 722 6A www.ulmacarretillas.com www.ulmaconstruction.com Vale de Figueira CP1072AAP Capital Federal (Argentine) 2695-570 São João Da Talha Tel.: +54 1 14 3431625 ULMA INOXTRUCK ULMA BETONSCHALUNGEN UND GERÜSTE GMBH Lisboa (Portugal) Fax: +54 1 14 3425132 Garagaltza auzoa, 51 -P.O. Box 22 Paul-Ehrlich-Straße 8 Tel.: +351 219 947 850 20560 Oñati (Gipuzkoa) D-63322 Rödermark (Germany) Fax: +351 219 558 022 ULMA BRASIL - FÔRMAS E ESCORAMENTOS LTDA. Tel.: +34 902 702 919 Tel.: +49 (0) 6074 9294 0 Avenida Andrômeda, 885 – 22º / 23° Andar - Alphaville Fax: +34 943 780 917 Fax: +49 (0) 6074 9294 101 ULMA CONSTRUCCIÓN CZ, S.R.O. BARUERI - SP E-mail: [email protected] Průmyslová 1009 CEP: 06473-000 (Brazil) www.ulmainoxtruck.com ULMA, S.A.R.L. 294 71 Benátky Nad Jizerou Tel.: +55 11 4619 1300 27, Rue Gustave Eiffel ()) Fax: +55 11 4619 1300 CENTROMAN Z.I. de la Marinière Tel.: + 420 326 910 600 Calle Valportillo Primera, 4 91070 Bondoufle (France) Fax: + 420 326 910 601 ULMA CHILE - ANDAMIOS Y MOLDAJES, S.A. Polígono Industrial de Alcobendas Tel.: +33 1 69 11 54 50 Vizcaya n° 325 - Pudahuel 28108 - Madrid Fax: +33 1 69 11 54 54 ULMA CONSTRUCCION SK, S.R.O. (Ruta 68, Camino Noviciado) Tel.: +34 91 661 35 64 Bojnická 20 Santiago (Chile) Fax: +34 91 661 36 31 ULMA Construction S.P.A. 834 04 Bratislava (Slovak Republic)) Tel.: +56 2 25990530 E-mail: [email protected] Vía Casette di S. Antonio, 4 Tel.: + 421 2 4910 2911 - 13, 18 www.centroman.net 37036 S. Martino B.A. (VR) (Italy) Fax: + 421 2 4910 2922 INDUSTRIAL CONCONCRETO S.A. Tel.: + 39 (045) 723 79 00 Calle 6, Nro 22-34 int. 103, Girardota ESENERGIA Fax: + 39 (045) 723 79 99 ULMA COFRAJE S.R.L. ANTIOQUIA P.I. El Pedregar, Soseaua de Centura, 2-8 Colombia Rda. El Pedregar, nº 7 ULMA CONSTRUCCION BALTIC 077025 – Bragadiru Tel.: + 57 (4) 289 00 60 08160 - Montmeló Justiniškiu g. 126 ILFOV (Romania) Barcelona LT-05268 VILNIUS (Lithuania) Tel.: +40 31 425 13 22 / 23 ULMA FORM WORKS, INC. Tel.: +34 93 001 45 60 Tel.: +370 5 203 49 99 Fax: +40 31 425 13 24 58 5th Ave. E-mail: [email protected] Fax: +370 5 203 49 49 Hawthorne, NJ 07506 www.snergia.com (EE.UU.) Tel.: +1 (973) 636-2040 Fax: +1 (973) 636-2045

24 25 07. BUSINESS ADDRESS AND AFFILIATES

ULMA CIMBRAS Y ANDAMIOS DE MÉXICO S.A. DE C.V. DELMON GROUP SPAIN WEST BRANCH Vía Gustavo Baz Prada 2160 Acceso 5 P.O. Box 121930 Pol. Ind. Espíritu Santo - Rua Bell, 24-26 54060 Col. La Loma Dubai (UAE) CANARY ISLANDS BRANCH 15650 Cambre Tlalnepantla Tel.: + 971 04 3393120 Pol. Ind. Las Majoreras - Los Llanillos, 33 A Coruña Estado de México (Mexico) Fax: + 971 04 3391514 35259 Ingenio Tel.: +34 981 649802 Tel.: +52 55 5361 6783 / 2628 3549 Las Palmas Fax: +34 981 649060 ULMA FORMWORK SYSTEMS INDIA PVT. LTD. Tel.: +34 928 789212 ULMA ENCOFRADOS PERÚ,S.A. 206, Inizio, Cardinal Gracious Road, Fax: +34 928 789538 SOUTH BRANCH Av. Argentina 2882 Chakala, Andheri (East) Camino Nuevo, s/n Lima (Peru) MUMBAI 400099 CENTRAL BRANCH 18210 Peligros Tel.: +51 1 613 6700 MAHARASHTRA (India) Ctra. N-401 Madrid-C. Real, km 87 Granada Fax: +51 1 613 6710 Tel.: + 91 22 28253676 / +91 22 66713899 45110 Ajofrin Tel.: +34 958 405028 Fax: + 91 22 28253676 Toledo Fax: +34 958 405328 ATTIEH STEEL COMPANY LIMITED Tel.: +34 925 011000 P.O Box 12480 ULMA FORMWORK KAZAKHSTAN LDA. Fax: +34 925 011008 Jeddah 21473 (Saudi Arabia) 17, Kuishi Dina St. - Office 501-502 Tel: +966 2 6873837 Ext. 670, Ext 680 010010 Astana (Kazakhstan) EAST BRANCH Fax: +966 2 6873837 Ext. 688 Tel.: + 7 7172 58 05 19 Pintor Velázquez, 7 y 9 + 7 7172 40 07 03-04 (ext. 502) 08213 Polinya UNI-SPAN Fax: + 7 7172 58 05 19 Barcelona 28 Computer Road Tel.: +34 93 7132727 Yatal Qld, 4207 ULMA FORMWORK SINGAPORE PTE. LTD. Fax: +34 93 7133643 Australia 300 Beach Road, #18-05 The Concourse Tel.: + 61 734424000 199555 Singapur (Singapore) Pol. Ind. Son Noguera Tel.: + 65 67588525 Cas Rossos, 12-14 ULMA FORMWORKS CHINA R.O. Fax: + 65 67588523 07620 Llucmajor #1009 Fortunegate Mall Illes Balears 1701 West Beijing Road Tel.: +34 971 669850 200040 Shanghai (China) Fax: +34 971 121512

ULMA FORMWORKS UAE L.L.C. NORTH BRANCH Plot No. 597-547 Pol. Ind. Goiain - Av. San Blas, 1 Dubai Investments Park 01170 Legutiano P.O. Box 282286 Dubai (UAE) Álava Tel.: + 971 04 3393120 Tel.: +34 945 001100 Fax: + 971 04 3391514 Fax: +34 945 001111

26 27 07. BUSINESS ADDRESS AND AFFILIATES

ULMA CONVEYOR COMPONENTS VALENCIA BRANCH ULMA PACKAGING ULMA PACKAGING LTDA. Ctra. Llano del Quart km 3,2 (Commercial Office) ULMA Conveyor Components, S. Coop. Edificio Salvesen Logistica ULMA Packaging, S. Coop. Rua José Getúlio, 579 - Cj. 26 Bº Zelaieta s/n 46960 Aldaia (Valencia) Bº Garibai, 28 - Post office box 145 Cep: 01509-001 São Paulo - Sp (Brazil) 48210 Otxandio (Bizkaia) Tel.: 677 985467 20560 Oñati (Gipuzkoa) Tel.: +55 11 4063-1143 Tel.: 945-450075 Tel.: 943-739200 Fax: +55 11 2167-5284 Fax: 945-450257 BRAZIL Fax: 943-780819 E-mail: [email protected] Rua José Getulio 579 cj22 E-mail: [email protected] ULMA PACKAGING LTDA. Aclimação São Paulo - SP Web: www.ulmapackaging.com (Production plant) ALEMANIA Brasil - Cep 01509-001 Rodovia Anhanguera Km 129, N.5091 - BLOCO D BAIRRO ULMA Conveyor Components GmbH (DEUTSCHLAND) Tel.: +55 11 3711-5940 ULMA PACKAGING TECHNOLOGICAL SALTO GRANDE Paul-Ehrlich Straβe, 8 Fax: +55 11 2167-5284 CENTER, S.Coop. CEP: 13474-000 AMERICANA-SP (Brazil) D-63322 RÖDERMARK - GERMANY Barrio Garagaltza, 51 – Post office box 22 Tel.: +55 19 3469 2600 FRANCE 20560 Oñati (Gipuzkoa) Fax: +55 19 3469 5479 CHILE 13/17 Rue de la Fontaine Tel.: 943-039350 ULMA Conveyor Componentes Ltda. (CHILE) 77700 Serris Fax: 943-039341 ULMA PACKAGING GMBH Vizcaya 325 - Pudahuel - SANTIAGO - CHILE Tel.: +33 (0) 164 633173 Web: www.ulmapackaging.com Einsteinring 11 Fax: +33 (0) 164633172 89257 Illertissen (Germany) PERÚ ULMA PACKAGING S.A. Tel.: +49 (0) 7303/901996-0 ULMA Conveyor Components S.A.C. (PERÚ) HOLLAND Avenida 101 - Iturraspe N.1075 Fax: +49 (0) 7303/901996-70 Calle Las Praderas de Lurin, Lote 24 (Sub lote 24) LURIN – Ringallee 35 Partido Gral. San Martin LIMA - PERÚ 6881 MX Velp (Netherlands) B1650ICC Buenos Aires (Argentina) ULMA PACKAGING SARL Tel.: +31 (0) 263620733 Tel.: +54 11 4755 3983 Le Mas des Entreprises, 5 Avenue Lionel Terray - Lot C2 Bis ULMA HANDLING SYSTEMS Fax: +31 (0) 263628539 Fax: +54 11 4755 3983 69330 Meyzieu (France) Tel.: 00 33 472056890 ULMA Manutención, S. Coop. PERU ULMA PACKAGING PTY LTD Fax: 00 33 472056899 Bº Garagaltza, 50. Post office box 67 Calle Monte Rosa 255 4to piso Chacarilla Building 302, Unit 4/6-12 Boronia Road 20560 Oñati (Gipuzkoa) Santiago de Surco, Lima. QLD 4008 Brisbone Airport ULMA PACKAGING SRL Tel.: 943 782 492 Tel: +511 6259758 Australia Via Dell’artigianato N.2 Fax: 943 782 910 - 943 503 990 Tel.: +61 (07) 3860 6119 29010 Gragnano Trebbiense (Italy) E-mail: [email protected] CHILE Fax: +61 (07) 3860 5820 Tel.: +39 0523-788447 Avda. Isidora Goyenechea Nº 2939 Piso 11 Fax: +39 0523-788782 BARCELONA BRANCH Las Condes GH NV Pintor Velázquez, 7 y 9 Santiago- Chile Langlaarsteenweg 168 ULMA PACKAGING S.A. DE C.V. 08213 Polinya (Barcelona) B-2630 Aartselaar (Belgium) (Commercial Office) Tel.: 93 2478860 Tel.: + 32 (0) 3 870 60 60 Mario Pani 150 Piso 1 Lomas de Santa Fe Cuajimalpa Fax: +32 (0) 3.870.60.69 01219 México D.F., Edo. de México (México) Tel.: + 52 (55) 4738 4144 Fax: + 52 (55) 5365 8072

28 29 07. BUSINESS ADDRESS AND AFFILIATES

ULMA PACKAGING S.A. DE C.V. ULMA PACKAGING RUSSIA ULMA AMBALAJ MAKİNE S.T.L.Ş. GALICIA BRANCH (Showroom & SAT) 1st proezd Perova Polya, 9, building 1, office 16 F.S.M. Mah. Poligon Cad. Buyaka 2 Sitesi, No:8C 3.Kule Avda. de Madrid, 73 - 2º Office 9 Via Gustavo Baz nº 2160 Edificio 4 Planta baja 111141 Moscow (Russia ) Kat:8 Daire:53 36214 Vigo (Pontevedra) Col. La Loma, Tlalnepantla de Baz Tel.: +7 (495) 380 17 84 34771 Tepeüstü Ümraniye İSTANBUL (Turkey) Tel.: 986 - 23 15 30 54060 México D.F., Edo. de México (México) Fax: +7 (495) 380 17 84 Tel.: 0532 345 51 55 Fax: 986 - 23 21 06 Tel.: + 52 (55) 4738 4144 Fax: + 52 (55) 5365 8072 ULMA PACKAGING SYSTEMS (SA) (PTY) LTD LEVANTE BRANCH Village Crescent – Linbro Village Edificio Parque de la Albufera ULMA PACKAGING B.V. Linbro Business Park SPAIN Pz. Alqueria de la Culla ,4-floor 9, Office 904 Techniekweg 19A 2146 Sandton (South Africa) 46910 Alfafar (Valencia) 4143 Hw Leerdam (The Netherlands) Tel.: +27(11) 608 4005/06 ANDALUCIA BRANCH Tel.: 96 - 122 52 02 Tel.: + 31 (0) 345 623800 Fax: + 27 (11) 608 4077 Pol. Ind. La Negrilla , Manzana 1, C/ Libro, Nave 6 Fax: 96 - 122 52 10 Fax: + 31 (0) 345 623918 41016 Sevilla (Sevilla) ULMA PACKAGING UKRAINE LTD. Tel.: 95 - 563 00 15 NORTH BRANCH ULMA PACKAGING POLSKA SP.Z.O.O. Dneprovskaya naberezhnaya 26 Zh, office 15 Fax: 95 - 563 00 17 Bº Garibai, 28 Ul. Sikorskiego 5 02098 Kiev (Ukraine) 20560 Oñati (Gipuzkoa) 05-119 Legionowo (Poland) Tel.: +38 044 229 2877 CANARY ISLANDS BRANCH Tel.: 943 73 92 11 Tel.: +48 22 766 22 50 Fax: +38 044 229 2877 Camino de las Gavias, 131 Fax: 943 03 42 45 Fax: +48 22 774 43 68 38204 La Laguna (Tenerife) Canarias ULMA PACKAGING LTD Tel.: 922 - 31 44 47 ULMA PACKAGING LDA Unit 4, Woodland Court Coach Crescent, Shireoaks Fax: 922 - 31 58 10 ULMA PIPING Centro De Negócios Quinta Verde, Fracçao B S81 8AD Worksop Nottinghamshire (United Kingdom) Quinta Das Fazendas Novas Tel.: +44 (0)1909 506 504 CATALONIA BRANCH ULMA Forja, S. Coop. 2130-102 Benavente (Portugal) Fax: +44 (0)1909 506 509 C/ Pintor Velázquez, 7-9 Bº Zubillaga, 3 - Post office box 14 Tel.: +351 263 518030/39 08213 Polinya (Barcelona) 20560 Oñati (Gipuzkoa) Fax: +351 263 580800 HARPAK-ULMA PACKAGING, LLC. (MA) Tel.: 93 - 713 28 45 Tel.: 943-780552 175 John Quincy Adams Road Fax: 93 - 713 35 57 Fax: 943-781808 ULMA PACKAGING SRL ROMANIA 02780 Taunton (Ma) E-mail: [email protected] (Commercial office) USA CENTRAL BRANCH Strada Turnu Magurele 270D, Cavar Center, Tel.: +1 (508) 884-2500 Av. Cerro del Aguila Nº 3 Edificio 2, ULMA LAZKAO FORGING, S.L. Corp C, Etaj 2, Biroul 2, Sector 4 Fax: +1 (508) 884-2501 Oficina 2B1 Cl. Zubierreka, 52 Bucuresti (Romania) Parque Empresarial Sanse 20210 Lazkao (Gipuzkoa) Tel.: +40 21 315 4848 / +40 21 460 4846 HARPAK - ULMA PACKAGING, LLC. (GA) 28700 S.S. de los Reyes (Madrid) Tel.: 943-805333 Fax: +40 21 460 4847 3035 Torrington Drive Tel.: 91 - 652 37 00 30107 Ball Ground (GA) Fax: 91 - 652 88 92 INDUSTRIAS ULMA VENEZOLANA C.A ULMA PACKAGING SRL ROMANIA USA Edificio El Candil (Production plant) Tel.: +1 (770) 345 5300 MURCIA BRANCH Avda. Norte, piso 8, Oficina 8-A Str Constructorilor,nr.24 Fax: +1 (770) 345 5322 Polígono Industrial La Serreta Calle Cali, S/Nº Urbanización La Candelaria 407042 Apahida (Cluj) (Romania) 30500 Molina de Segura (Murcia) 1010 Caracas, (Venezuela) Tel.: +40 37 420 0113 Tel.: 968 642 641 Fax: +40 37 420 0110 Fax: 968 615921

30 31 07. BUSINESS ADDRESS AND AFFILIATES

ULMA PIPING MEXICO, S.A. DE C.V. Av. Gustavo Baz 2160, Building 3 - floor 1 La Loma Cp 54060 Tlalnepantla (State of Mexico))

ULMA PIPING USA CORP Regus Group Willowbrook 8300 F 1960 Road West, Suite 450 Houston, TEXAS 77070

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