WOLCO SIGNS A TEN-YEAR SUPPLY CONTRACT FOR ITP AERO IN ZAMUDIO AND MEXICO

Wolco has signed an agreement to supply special cutting tools and sharpening services for a period of ten years for ITP Aero’s plants in Zamudio (Spain) and Querétaro (Mexico).

Wolco has increased its aeronautical business by 200% in the last two years, since they were incorporated as a founding company to the Advanced Aeronautical Manufacturing Center and started their trajectory in the Aerospace Cluster of the Basque Country (HEGAN).

For David Bernar, CEO of Wolco, "the contract places us not only as a Basque referent, but as a European one, of cutting solutions, highlighted as one of the companies that offer comprehensive solutions, combining the design and manufacture of special cutting tools and tailored to the needs of the client. In this sense, we are very grateful for the trust placed in us by ITP Aero, with whom we are engaged in several research and development projects that allow both companies to strengthen their relationships as a customer and supplier."

In this context, the company form Lemona is developing two industrial research and experimental development projects in strategic sectors within the Hazitek institutional program, both focused on the mechanization of complex aeronautical materials. It is also making an annual investment of 10% of its sales volume in research and development in line with the increase of its activity in the aeronautical sector.

The agreement with ITP Aero responds to Wolco’s expansive strategy in the aeronautical sector, which at the moment represents 20% of its total sales and which is expected to increase up to 30% in the medium term. The rest of its activity is completed by the automotive (60%), valves and die-manufacturing sectors.

Its growth in the aeronautical sector has materialized with the opening of a production center in Querétaro (Mexico), which has had an investment of 1 million Euros. Wolco is contemplating the opening of a new production plant in India for 2020.

Wolco Group (Cutting Solutions) has a staff of 100 professionals distributed in five work centers (four in the Basque Country and one in Mexico) and four firms: Wolco (manufacture of special cutting tools for the automotive and aeronautical sectors); Alfe Cutting (manufacture of cutting tools for the steel industry and large grinding); Carbid (sharpening of special cutting tools); and Cisidel Tools (manufacture of cutting tools for the wood and metal industry).