The company from Gipuzkoa has set an annual growth rate of 5.6% over the last 16 years.
The Basque automotive component company PMG Polmetasa has grown 4.5% and achieved turnover of 58.6 million euros, reports Estrategia Empresarial. With an export quota of 89%, it has been the European leader for sintered shock absorber components since 2006. It is also the development centre for other plants in the same PMG group business unit in the USA and Asia, This unit focuses on the manufacture of sintered (powder metal) components for the propulsion and chassis areas of the automotive industry, giving it the strength and muscle to compete in such a demanding sector.
The key to these excellent results has been the production of high value-added parts in a new product niche in the past two years, increasing turnover by 8.2% in 2015, to 56 million euros, and 4.5% in 2016, up to 58.6 million euros. These products are a specific family of pistons with special technical features, which Polmetasa has managed to industrialise and automate. These developments are based on the powerful R&D and engineering divisions of Polmetasa, which, since 2012, also has its own research, development and innovation centre at the AIC (Automotive Intelligence Centre) in Amorebieta.
Prominent among recent company movements is the acquisition in 2014 of the firm Riken España, located in Constantí (Tarragona) and renamed PMG Constantí.