/C O R R E C T I O N from Source -- FICOSA/

In c7069 transmitted on February 2, 2011, an error occurred in the headline. The headline incorrectly contained the word "Automation" and should have read "Automotive". Corrected copy follows:

Spanish Group Ficosa Focuses its New Strategy on Electronic Innovation and Further Automotive Diversification

BARCELONA, Feb. 2 /CNW/ - Spanish industrial group Ficosa, a world leader in research, development, production and marketing of systems and components for vehicles, is facing the future with a more internationalised, more diverse business with products of greater added value, in order to become the leading company in the field of electronic systems related to security, communications and energy efficiency. This multinational industrial group, founded in 1949 and present in 19 countries, is making a qualitative leap by enforcing the innovation of electronic products and diversifying its activities to include new sectors beyond the automotive industry.

The new Ficosa is broadening its activities by adding to its current operative divisions, of Automobiles, Commercial Vehicles and Technology to include Renewable Energy - focused on the design and manufacture of products for improved energy efficiency - and Engineering, including projects in sectors such as transport, aerospace, communication, railways, renewable energy and health-tech. The group will update its 6,000m2 R+D centre, making it one of the most important automobile, electronics, energy and communication-dedicated Technology Centres in Spain.

This new strategy forms part of the recent acquisition of the 60,000m2 Sony plant in Viladecavalls (Barcelona), which allows the group to complete its transformation towards products with greater electronic and software content with the creation of the Centre of Electronic Excellence.
The group also has three other world-level Centres of Excellence focussing on By Wire Technology for vehicle transmissions, actuators and mechanisms, the manufacture of rear-view mirrors and Renewable Energy.

According to Xavier Pujol, CEO of Ficosa, "We have taken advantage of the crisis by making Ficosa an even stronger company with greater future prospects, based on a series of operations which allow us to expand the Group's five strategic axes: globalisation, client diversification, innovation, operational efficiency and financial strengthening."

Ficosa is focussing its global growth in North America and Asia, through the integration of local competitors and the development of strategic alliances with complementary competitors.

SOURCE FICOSA

For further information:

Isabel Vea - +34-609-643-085 - ivea@arenalia.com - http://www.ficosa.com

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