We are proud to announce two important events that occurred in 4Q16.

First of all, BBV Holding was established and it is now the parent company of the BBV Group.

In second place, BBV Holding acquired Steelflex and completed the turnaround of the company with a new management team, new governance rules and a new organization.

The BBV Group is now fully operational. The manufacturing companies BBV Tech and Steelflex are mutually reinforcing thanks to synergies in their expansion joint product portfolios (metal, rubber and non-metallic), services (engineering, installation, post-sales), procurement and R&D. The new commercial approach has been very well received by customers, who appreciate the group’s ability to serve every need they experience.

From January 1st 2017 the BBV Group is working under a new strategic vision, shifting the companies from being “The best manufacturer of expansion joints” to be “The industrial process flow specialist”. The challenge is huge but the change is necessary to better support our customers and to build a sustainable growth based on three pillars: “excellence in manufacturing”, “end-to end-solutions”, and “Servitization” under the framework of Industry 4.0.

We are also glad to announce that the two manufacturing companies have achieved their best results (new orders) in the last five years, with a double-digit growth Y2Y.

And now let’s talk about two major deals won by our two manufacturing companies.

Steelflex: won the bid for the supply of engineering services and construction of components for the lines for the geothermal power plant “Cerro Pavellòn”, the largest plant in South America.

BBV Tech: won the bid to supply the expansion joints that will equip the turbine propulsion systems for all the military ships in the new PPA project.

We have production capacity, technical expertise and financial strength: we look forward to being your industrial process flow specialist.