Copreci S. Coop. has acquired the machinery and goods of the extinct Isphording Hispania Inc., based in Alsasua (Spain).

Isphording Hispania Inc., a venture previously financed with German capital, has manufactured gas components in Alsasua since 1964.

Founded in 1963, Copreci is a leading manufacturer of domestic appliance components and has production centers in Mexico, Brazil, Italy, Czech Republic, Turkey and China, with an estimated turnover of 200 million euros for 2010. This latest acquisition consolidates Copreci's position in the market by adding to its range of Professional Cooking products.

In line with the Mondragon Corporation's philosophy, Copreci is committed to safeguarding employment in a region undergoing a process of industrial conversion and the new company will be set up as a co-operative under the control of the Copreci Group. The acquisition is approved by the regional Government of Navarre and the new workforce will be made up entirely of former Ipshording workers, who will become members of the newly established cooperative. This serves to guarantee the ongoing human and technological investment in this project.

The Copreci Group has informed its clients of this acquisition to guarantee product supply during this period of growth.

The new company called Altsasuko S. Coop , will start its activity the next month of June and Copreci will remain as the brandname.