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2007
COMPANY PROFILE
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A large Group
Elgoibar is located in the Basque Country, the pioneering region for the emergence, development and
commercialisation of the Spanish machine tool industry and follows the “industrial revolution” of the 19th
century where there is historical evidence of workshops specialising in the construction and repair of
machinery.

The DANOBAT Group has always been able to adapt itself to the different circumstances and demands of
each era in this industrial tradition, thus has become one of Europe's leading companies.

Highlights
1954 2002
DANOBAT is set up. Acquisition of the OVERBECK Company in
Germany.
1962
SORALUCE is set up. 2003
Acquisition of the NEWALL Company in UK.
1980
The DANOBAT Group is founded. 2004
Creation of GOIMEK, high precision machining
1986 specialised company.
Creation of IDEKO, a Technology Centre
specialising in Machine Tools. 2005
Creation of DANO-RAIL for the construction of
1992 equipment for railway maintenance.
Constitution of the MONDRAGON Corporación
Cooperativa (MCC); the DANOBAT Group 2005
became a member. IDEKO launches HI-MACH High Performance
Research project.
1992
Constitution of BIMATEC-SORALUCE in Germany. 2006
Acquisition of the Company EUROFIBER:
1992 equipment for manufacturing parts in
Constitution of DANOBAT-Beijing in China. composite.

1993-1997
Creation of Commercial Delegations in Germany,
France, Italy, Brazil and Japan.

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The products manufactured by the DANOBAT Group are classified in the following technologies:

MILLING MACHINES & MILLING CENTRES SHEET METAL WORKING MACHINES

Bed type Punching
Floor type moving column Flexible systems
Moving column over bed Punching with shearing
High speed Bending
Punching with laser cutting
TURNING MACHINES
Horizontal CUTTING & DRILLING UNITS
Vertical Straight cutting bandsaws
Angular cutting bandsaws
GRINDING MACHINES Vertical cutting bandsaws
External cylindrical
Internal cylindrical PLASMA CUTTING SYSTEMS
Specials for aeronautics & power generation industries
Creep feed SOLUTIONS FOR RAILROAD MAINTENANCE
Double column & specials Control & reprofiling centers
Vertical Shunting cars
Centreless Geometry measuring equipment
Defects detection equipment
Automatic lines for changing bogies
Soft for tread's management & characterization
of parameters

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The DANOBAT Group forms part of MCC,

MONDRAGON Corporación Cooperativa

Its company structure is made up of three main groups: Financial,
Industrial and Distribution, each of which operates independently, but
with a common strategy.

The Financial Group embodies the banking activities of Caja Laboral,

as well as those of Lagun-Aro, a Social Welfare entity providing bene-
fits to the cooperatives belonging to the Corporation.

The Distribution Group works headed by Eroski.

The Industrial Group incorporates the activities of the industrial mem-

ber companies of the Corporation, grouped according to their sector
in the following divisions: Automotive, Goikide, Components,
Construction & Vertical Transport, Equipment, Household, Engineering
& services, Machine tools, Industrial systems and Tooling & systems.

Some of the most outstanding results up to December 31, 2006 are:

TOTAL ASSETS 28.100 Millions of €

INDUSTRIAL GROUP SALES 6.717 Millions of €

INDUSTRIAL GROUP'S INTERNATIONAL SALES 3.820 Millions of €

WORKFORCE 82.830 people

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Board of Directors
RAFAEL BARRENECHEA JOSE LUIS JUARISTI
Vice-president of MCC Managing Director GOITI
and General Manager of the DANOBAT Group

RAMON URIBE-ETXEBERRIA
IÑIGO UCIN Managing Director IDEKO
Managing Director DANOBAT

JOSÉ MANUEL SEGUÉS

VICENTE MUJIKA Managing Director LEALDE
Managing Director DANOBAT-SISTEMAS

RAFAEL IDIGORAS
VALERIO IÑIGUEZ Managing Director SORALUCE
Managing Director DANO-RAIL

ANTXON LÓPEZ USOZ

MANUEL AGUIRRE Innovation & Promotion Director
Managing Director ESTARTA DANOBAT Group

AITOR ALKORTA
Managing Director GOIMEK

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Market
2% 1%
The products of the DANOBAT Group are aimed to the following sectors:
5%
Capital Goods 30%
8%
General machining workshops 21%
30% Others 13%
8%
Automotive 12%
12% Oil industries 8%
21% Aeronautics 8%
13%
Railway Industry 5%
Stamps and dies 2%
Retrofitting 1%

The Danobat Group's main markets are as follows:

EU 42%
9%
Domestic market 27%
8%
Asia 14%
42% America 8%
14%
Others 9%

27%
International Sales:

Germany 22%
China 15%
Italy 8%
2% Eastern European countries 8%
6% Czech Republic 6%
Turkey 6%
22%
4% France 5%
5% UK 5%
5% Brazil 5%
15%
5% USA 4%
6% Mexico 2%
6% 8% 8%
Belgium 2%
India 2%
Portugal 2%
Argentina 2%
6 Others 6%
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Financial Details

Balance
The balance sheet as of 31.12.06 of the DANOBAT Group provides the following information:

ASSETS (Thousands of €) DEBTS (Thousands of €)

Net fixed assets 61.799 Own resources 80.170

Stocks 32.735 Long term debts 24.578

Liquid assets 60.208 Short term debts 72.091

Disposable 22.097 TOTAL 176.839

TOTAL 176.839

Turnover
The turnover of the DANOBAT Group in 2006 reached 192.8 million euros, 27% of
which came from the domestic market and 73% from foreign markets.

Foreign markets 73%

Domestic market 27%

Main Figures
* including subsidiaries.

INTERNATIONAL
TURNOVER SALES CASH FLOW
(millions of €) (millions of €) WORKFORCE (millions of €)

200 150 1.200 20

19
190 140 1.100 19,3
192,80 142,3 18
17
180 130 1.000 1.039 1.036 16
1.007
15
170 120 900 14
13
160 110 800 12
11
108
150 100 104 700 10
9
8
140 90 600
140 6
137 5
130 80 500 4 5,1 4,7
3
120 70 400 2
1
0 0 0 0
2004 2005 2006 2004 2005 2006 2004 2005 2006 2004 2005 2006
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Quality
The DANOBAT Group has been awarded with the following quality certifications:

Strategic Objectives
To contribute to the satisfaction of customer needs.

To position the Group among the European Machine Tool sector

leaders.

To provide the market with hi-tech machinery and turnkey solutions,

and collaborating with clients in developing their competitiveness.

To actively contribute to the technical, professional and human deve-

lopment of our worker-members.

To achieve the integrated participation of all the organisation's mem-

bers in the business management.

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Technology

The DANOBAT Group has its own Technological Research and Development
Centre, IDEKO. This is where it carries out the specialised innovation and creation
of state-of -the-art machine-tool products. Its main objective is to supply to the
companies within the Group innovating technological solutions. DANOBAT
Group's constant technological development is an essential factor for achieving
competitiveness on the world market.

IDEKO's main strength is its team of workers, consisting of 87 highly qualified

employees with proven experience in the sector and who are skilled in the
grasping, assimilating and developing of new technological solutions aimed at
the continuous adaptation of products and improved processes.

Its areas of development are: Product Engineering, Mechanical Engineering and

Control Engineering.

In depth research and development of the Danobat Group has made it possible
to have 37 international patents.

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Commercial network and participated companies

DANOBAT Group's commercial branch offices

The DANOBAT Group relies on a network of branch offices located in the main markets, complemented by agents and
dealers in countries which are the main machine tool consumers. The following list has been updated to 31st December 2006.

GERMANY ITALY BRAZIL

Bimatec-Soraluce
Director: F. Bigswa / A. Lindner
Tel.: +49 643.19.78.20
Fax: +49 643.17.11.02
E-mail: bimatec@t-online.de
www.bimatec.de
Soraluce Italia S.R.L.
Director: G. Alducci
Tel.: +39 0429.60.43.55
Fax: +39 0429.61.54.97
E-mail: soraluce@libero.it
www.soraluce.com
Danobat do Brasil Ltda.
Director: F. Mattoso
Tel.: +55 113.082.90.80
Fax: +55 113.082.90.80
E-mail: danobat.alp@terra.com.br

Overbeck Gmbh UK CHINA

Director: P. Rodríguez
Tel.: +49 27 72.80.10
Fax: +49 27 72.80.11.53
E-mail: info@overbeck.de
www.overbeck.de
Newall UK Ltd. Danobat Beijing Representative Office
Director: H. Chana Director: T. Hou
Tel.: +44 1733-26.55.66 Tel.: +86 10 64.64.36.81
Fax: +44 1733.84.38.19 Fax: +86 10 64.64.36.80
E-mail: sales@newall-uk.com E-mail: info@danobat.cn
www.newall-uk.com www.danobat.cn

FRANCE USA JAPAN

Soraluce S.a.r.l
Director: F. Arizaga
Tel.: +33 1.60.05.02.06
Fax: +33 1.60.06.56.47
E-mail: soraluce@club-internet.fr
www.soraluce.com
Danobat Machine Tool. Co.
Director: M. Ochoteco
Tel.: +1 84.75.93.66.44
Fax: +1 84.75.93.66.48
E-mail: danobatusa@aol.com
MCC Japan Office
Director: Y. Tsujiai
Tel.: +81 352.82.44.01
Fax: +81 352.82.44.02
E-mail: tsujiai@aa.mbn.or.jp

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DANOBAT Group References

AEROSPACE AND POWER AUTOMOTIVE VENDING / LIGHTING / OTHERS COMPONENTS
GENERATION CITROËN AZKOYEN ANSA LEMFORDER
AIA FRANCE BMW A.E.G. AUTOMODULOS
AIRBUS BOSCH BARALDI CLARK
AIR FRANCE INDUSTRIES DAIMLER CHRYSLER EFACEC COMESA
ALFA-ROMEO DELPHI EMBRACO DANA
ALITALIA DENSO ENUSA DELPHI
AMERICAN AIRLINES DONGFENG ISTOBAL EATON
BMW FAW IZAR FAGOR EDERLAN
BOEING HELICOPTERS FIAT KEPLER WEBER FIT-CONTINENTAL
BRITISH AIRWAYS FORD MECALUX GAMESA
CASA GENERAL MOTORS NUCLEAR FUEL GKN
CANADIAN AIRLINES GETRAG ODELUX INA
DELTA GKN RALL IRAN KHODRO
EUROCOPTER IRAN KHODRO RECREATIVOS FRANCO KRUPP
GAMESA EÓLICA LAND-ROVER REPAGAS LUCAS
GE AIRCRAFT ENGINES MAHLE ROPER MAGNETI MERELLI
GE POWER SYSTEMS MERCEDES BENZ SOTUBO MAHLE
GERMAN AIR FORCE MTU MAPSA
HISPANO SUIZA NISSAN RAILROAD MEHVARSAZAN
IBERIA OPEL ABB HENSCHEL MENESMAN SACHS
IHI Japón PERODUA ALSTOM MICHELIN
IPTN-Indonesia PROTON BOMBARDIER RONAL
JAL Japón PSA GROUP CAF SAMOT
KNAAPO RENAULT CHINA NORTHERN RAILWAYS SHANGHAI-GEARS
LA RAPIDA ROVER CHINA SOUTHERN RAILWAYS SISAMEX
LZTL-RUSSIA SAAB DWA ATS/S&M
MESSIER BUGATTI SKODA GEC ALSTHOM TENNECO
OGMA-PORTUGAL SSANG-YONG INDIAN RAILWAYS TEVES
PIAGGIO AERO INDUSTRIES SUZUKI JINXI AXLE TIGER
PRAT & WHITNEY TENNECO KÜNSTLER TRW
ROLLS ROYCE TRW LUCHINNI VOITH
SABENA VOLKSWAGEN METRO MADRID ZF
SAESL-SINGAPORE VOLVO MINISTRY OF RAILWAY CHINA
SALUT ZF RENFE INDUSTRIAL
SF EMMEN SWISSAIR SÄCHSISCHE ANLAGEN REFRIGERATION
SIEMENS STAMPS & DIES SIEMENS ARNEG
SIKORSKY CITROËN SUBURBANO MEXICO DF ELECTROLUX
SNECMA KARMANN VON ROLL FAGOFRI
SR TECHNICS KETER PLASTIC WAGGONBAU DESSAU ITV
SWISS FEDERA MIELE WAGGONBAU GÖRLITZ JOSE JULIO IORDAO
THAI AIRWAYS TRÖSTER KOXKA
UNITED AIRLINES VOLVO INDUSTRIAL VEHICLES TECUMSEN
VARIG ZIMMERMANN CATERPILLAR UNIDAD HERMÉTICA
DANA
FOUNDERS OIL INDUSTRIES EATON
FAGOR EDERLAN AMPO POYAN IVECO
FAGOR LUZURIAGA COOPER CAMERON JOHN DEERE
MONTUPET GAZPROMTRUB MAN
SIFA GRUPO TENARIS RENAULT VEHICULOS INDUSTRIALES
TEKSID KORVET SCANIA
PHOENIX ARMATUREN SISAMEX
CETOR
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BIMATEC-SORALUCE
In den Fritzenstücker 13-15
Tel.: +49 6431 97820
Fax: +49 6431 71102
D-65549 LIMBURG
E-mail: bimatec@t-online.de
www.bimatec.de
DANOBAT
Arriaga Kalea, 21
P.O. Box: 28
Tel.: +34 943 74 80 44
Fax: +34 943 74 31 38
E-20870 ELGOIBAR (Gipuzkoa)
E-mail: danobat@danobat.com
www.danobat.com
DANOBAT SISTEMAS
Bº Arzabal s/n
P.O. Box: 30
Tel.: +34 943 25 49 00
Fax: +34 943 25 49 01
E-20820 DEBA (Gipuzkoa)
E-mail: danobatsistemas@danobatsistemas.com
www.danobatsistemas.com
DANORAIL
Bº Arzabal s/n
P.O. Box: 30
Tel.: +34 943 25 49 00
Fax: +34 943 25 49 01
E-20820 DEBA (Gipuzkoa)
E-mail: dano-rail@dano-rail.com
GRUPO DANOBAT
Arriaga Kalea, 2
P.O. Box: 33
Te.l: +34 943 74 83 00
Fax: +34 943 74 36 74
E-20870 ELGOIBAR (Gipuzkoa)
E-mail: danobatgroup@danobat.com
www.danobatgroup.com
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ESTARTA RECTIFICADORA
SIGMA Industrialdea
Xixilion Kalea, 2 Pab. 10
P.O. Box: 17
Tel.: +34 943 74 37 05
Fax: +34 943 74 17 58
E-20870 ELGOIBAR (Gipuzkoa)
E-mail: estarta@estarta.com
www.estarta.com
GOIMEK
Itziarko Industrialdea, 2. Partzela
P.O. Box: 5
Tel.: +34 943 60 63 15
Fax: +34 943 25 44 05
E-20829 ITZIAR-DEBA (Gipuzkoa)
E-mail: goimek@goimek.es
www.goimek.es
GOITI
Apraiz kalea,1
P.O. Box: 80
Tel.: +34 943 74 80 23
Fax: +34 943 74 81 44
E-20870 ELGOIBAR (Gipuzkoa)
E-mail: danobat@goiti.com
www.danobat.com
IDEKO Centro Tecnológico
Arriaga Kalea, 2
P.O. Box: 80
Tel.: +34 943 74 80 00
Fax: +34 943 74 38 04
E-20870 ELGOIBAR (Gipuzkoa)
E-mail: ideko@ideko.es
www.ideko.es
LEALDE
Bº Kortazar, s/n
P.O. Box: 11
Tel.: +34 94 684 40 04
Fax: +34 94 684 41 30
E-48288 ISPASTER (Bizkaia)
E-mail: lealde@lealde.com
www.lealde.com
NEWALL UK LTD.
Unit 1 Sturrock Way
Bretton
Tel.: +44 (0) 1733 265566
Fax: +44 (0) 1733 843819
PETERBOROUGH / PE3 8YJ
E-mail: sales@newall-uk.com
www.newall-uk.com
OVERBECK GMBH
Overbeck Gewerbepark
Konrad Adenauer Strasse 27
Tel.: +49 2772 801-0
Fax: +49 2772 801153
D-35745 HERBORN
E-mail: info@overbeck.de
www.overbeck.de
SORALUCE
Bº Osintxu
P.O. Box: 90
Tel.: +34 943 76 90 76
Fax: +34 943 76 51 28
E-20570 BERGARA (Gipuzkoa)
E-mail: soraluce@soraluce.com
www.soraluce.com