Gonvarri Steel Services locating new facility in Union County $35 million initial investment and 40 jobs; additional

$15 million investment and 25 jobs over 10 years

COLUMBIA, S.C. July 25, 2012 Gonvarri Steel Services, a provider of steel processing to manufacturers, today announced plans to locate its new production plant in Union County (South Carolina, USA). The initial $35 million investment is expected to generate 40 new jobs, with an additional $15 million investment and 25 jobs created over the next 10 years.

This new facility consolidates the internationalization process of the company, incorporating our first center in the United States, reinforcing our company as a multinational leader in steel service centers, particularly in the automotive business, said Josu Calvo, CEO of Gonvarri Steel Services.

Spain-based Gonvarri Steel Services will construct a new greenfield facility for steel processing and supply Gestamps facility, which is also located in Union County. It will have a flat steel products processing capacity of 100,000 tons. Operations are expected to begin at the new facility in July 2013.

With investments like this one from Gonvarri Steel Services, word is out all over the globe that South Carolina is the place to do business. We celebrate the companys decision to invest $35 million and create 40 new jobs in Union County. This announcement is also a win for one of our states rural areas, said Gov. Nikki Haley.

Since January 2011, South Carolina has recruited more than $6.8 billion in capital investment and more than 16,000 jobs in the manufacturing sector. In South Carolina, we know how to make things. Gonvarris decision to establish its new facility here provides another boost to our states manufacturing sector, growing and producing more jobs for South Carolinians, said Secretary of Commerce Bobby Hitt.

Union County Council Supervisor and Chairman Thomas L. Sinclair said, I am delighted that Gonvarri Steel Services chose Union County to build its first US steel services center, Gonvauto South Carolina.

This is another exciting announcement for our community. It is the result of collaboration involving cooperation from several partners - Union County, the City of Union, the Union County Development Board, Lockhart Power Company, Norfolk Southern Railroad, South Carolina Department of Transportation, South Carolina Department of Commerce and two local companies Gestamp South

Carolina and Standard Textile. Gonvarri's faith in our community is appreciated and we commit to them that their faith is well-founded. Many thanks to Gonvarri Steel Services for making this major decision to construct a steel processing plant in Union County, said Union County Development Board Chairman Joe F. Nichols. This new facility will bring much-needed jobs as well as future growth opportunities. The Gonvarri team, Unions local team and the S.C. Department of Commerce met each challenge collaboratively to make this project a success. Welcome Gonvauto South Carolina to Union."

About Gonvarri Steel Services

Gonvarri Steel Services is a leading company in steel service centers, with revenues of over $2.6 billion in 2011, and processing more than 3.2 million tons of steel. Its strategy in the steel processing business is based on the development of products and services with great added value, allowing the company to establish closer relationships with its main clients in its four business units: automotive, road safety, industry and household appliances. With this new facility, Gonvarri Steel Services will have a total of 24 steel service centers located in 13 different countries.

For more information, please visit www.gonvarristeelservices.com. About Gestamp Corporation

Gestamp Corporation, parent company of Gonvarri Steel Services, is a multinational leader in Europe in the steel sector, automotive components and renewable energy. It is currently present in 25 countries in Europe, America and Asia, with over 120 industrial plants and a global workforce of 30,000 employees. Gestamp Corporation ended 2011 with a turnover of over $9 billion.

For more information, please visit www.corporaciongestamp.com

About S.C. Department of Commerce

As South Carolinas leading economic development agency, the Department of Commerce works to recruit new businesses and help existing businesses grow. Commerce won the Gold Shovel Award and the Project of Year Award from Area Development magazine in 2012. Commerce has been part of recruiting world-class companies to South Carolina such as Boeing, Bridgestone, Continental, Monster.com, Heinz, ZF Group, BMW and Google Inc. Commerce also supports small and existing business, rural development initiatives and offers grants for community development.

For more information, visit www.SCcommerce.com