David Modig, President and CEO of MODIG and Koldo Arandia, President and CEO of IBARMIA, at the time of the agreement.
MODIG, a leading manufacturer of machining solutions for high productivity and automation applications, and IBARMIA, a leading manufacturer of customized and flexible machining centers, announced today the signature of a strategic partnership. In support of the alliance, MODIG will take a substantial minority stake in the capital of IBARMIA.
This strategic partnership aims to bolster both companies' geographical and sectoral presence, fostering new growth opportunities and synergies for both. The parties will also explore synergies in manufacturing.
"MODIG and IBARMIA share a passion for innovation and excellence in manufacturing. We're excited to combine our strengths and expertise, delivering even greater value to our customers.", said David Modig, President & CEO at MODIG.
"IBARMIA is excited to partner with MODIG, an innovative leader in advanced manufacturing solutions. This alliance will fuel IBARMIA's growth, expand our capabilities, and accelerate the development of cutting-edge machining solutions for our global customers”, said Koldo ARANDIA, President & CEO at IBARMIA.
About MODIG
MODIG, is a provider of innovative manufacturing solutions. MODIG's expertise aeronautics and automotive industries, combined with their capacities in automation and robotics enables it to deliver customized solutions that optimize productivity and efficiency to first level OEM and Tier companies all over the world.
About IBARMIA
IBARMIA is a leading machine tool manufacturer, specializing in the development and production of high-precision machining centers. With a reputation for quality and innovation, IBARMIA serves a diverse range of industries, including capital goods, energy and aerospace.