Correa English Revista 75

75 Years
Of Going Full
Steam Ahead

Towards a
Better
Tomorrow
IN 1947 the founder of the Group caught
a glimpse of a company that was
decidedly open to the world. Today,
75 years later, the company is the only
company in the sector that is listed on the
Stock Exchange and manufactures and
sells high-tech machine/tools all over the
planet. With a strategy based on putting
the customer at the center and with
innovation as a lever for competitiveness,
we are committed to supporting and
developing talent, generating qualified
and stable employment and digitalisation,
with sustainability as a vital commitment
to continue breaking the mold.
We face the future with optimism and
prudence while keeping intact our research
vocation and product customisation
as backbones and differentiators. We
are focused on building the “factory
of the future” in Burgos to increase
production capacity and continue to
fulfil our commitment to our customers,
employees and shareholders.
JOSÉ IGNACIO NICOLÁS-CORREA
President/ Chairman
INNOVATION 4
AFTER SALES SERVICE 6
DIGITALISATION AND TECHNOLOGY 8
VERTICAL INTEGRATION 10
CARMEN PINTO 12
75 YEARS OF GOING FULL STEAM AHEAD 15
A small workshop in Éibar
Burgos, Trip to the Pole
In the Stock-Exchange
Route to the East
CORREA GROUP DATA 24
GNC HYPATIA 26
GNC CALDERERÍA 28
GNC ELECTRÓNICA 30
NC SERVICE 32
GNC KUNMING 34
GNC DEUTSCHLAND 35
GNC ASIA 36
GNC INDIA 37
GNC USA 38
ACTIVITY SECTORS 39
CORREA GROUP IN THE WORLD 42
TECHNOLOGICAL EVOLUTION 44
#3

Innovation
Innovate
to Take
the
Lead
Two recent awards, the iF
Design Award 2022 obtained
for Correa’s new range of
front-end heads and the
BIEMH 2022 Award for
Innovation in Advanced and
Digital Manufacturing for
its new boring system, have
added to the long series of
recognitions harvested by
the Correa Group and speak
eloquently of the company’s
permanent commitment
to innovation. In this sense,
investment in research and
technological development
has been a commitment to
the future of the Group from
the beginning in a sector, the
machine/tool sector, which
is increasingly dynamic and
competitive and in which
the ability to continuously
innovate and Offering new
customer-oriented services
is one of the essential pillars
to grow and generate value.
#4

#5

After Sales Service
An ‘I Do’
for Life
The business mission that the Correa Group has set as a
guide is to contribute to the success of its customers by being
at their service from the first contact, with personalised
attention both in the development of the machine and in its
use, so that they can make their investment profitable, in an
optimal fashion.
Thus, and as one of the backbones of its R&D activities,
several of the internal programs and collaborative projects
in which Nicolás Correa participates pursue the joint
definition of technological manufacturing processes that
fully respond to the customer requirements, with machines
that incorporate very high levels of customisation. ‘We “get
married” to our clients’, summarises the president of the
company.
#6

#7

Digitalisation and Technology
Digitalisation and
Technology 4.0
Technological development as a lever for
competitiveness is one of the lines of strength
of the Correa Group, which focuses on
digitalisation as a transforming project, not only
for the company’s companies, but also for the
sector in general, with the aim of becoming a
fundamental strategic partner for the digital
transformation of its clients.
The firm focuses its efforts on manufacturing
products with greater added value thanks to
highly digitised, connected 4.0 machines, with
a high degree of robotisation and automation,
in which the technological weight in milling
solutions and service solutions is increased,
with sustainability as a commitment.
#8

#9

Vertical Integration
In-House
Providers
The vertical integration strategy
initiated in the Correa Group
with the creation of its subsidiary
companies has allowed the
company to depend on itself
in crucial aspects and directly
control key activities related to
its production cycle, particularly
everything related to the supply
chain. The industrial subsidiaries
have become the most important
suppliers of the Group, which
currently provide mechanically
welded and machined structures,
fairings, electrical cabinets,
automatic tool loaders (ATCs) for
all families of Correa machines
and a specialised technical
service. The strength that this
structure transfers to the company
is measured not only in terms of
profitability, but also flexibility,
planning and guaranteeing the
traceability of its products.
photo: patricia /db
#10

#11

Interview
CARMEN PINTO
Ceo of the Correa Group
Carmen Pinto assumed the position of chief executive of the Burgos
manufacturer of milling machines in 2017. Since then, she has carried out the
generational change at the top of the industrial group and has managed to
raise profits until taking the company to one of its best moments.
We are in
a time of
maturity
On the companies ninetieth
anniversary, at what stage does
the Correa Group find itself in?
In a moment of maturity.
The Correa Group was born a
quarter of a century ago, when a
process of industrial expansion
began, starting with a series of
subsidiaries that work for the
parent company and that bit
by bit are also generating their
own clients. Today we have a
very consolidated group, with
a very well-oiled structure and
getting a lot out of it. We are
committed to this growth via
the Group because that gives
us the possibility of adapting
to different markets, of looking
into different sectors. We are,
as I say, in a sweet moment,
and although the situation is
uncertain, we feel comfortable
with the structure we have
created.
What growth plans does the
Group contemplate?
We are in a growth phase
precisely because of the
path we have travelled and
the experience we have
accumulated. We have acquired
a plot on Vitoria street to
carry out machining, part of
our production process. It is
a subsidiary that will give us
greater visibility and will allow
us to have a leading production
centre in Europe.
It is one more step in that concept
of vertical integration that has
been developed for years...
Indeed. We try to manufacture
most of the components of
the machines we sell within
the Group, because this way,
we depend on ourselves
in all phases of the process,
without depending on external
suppliers. There are also, of
course, components that we
continue to buy abroad. What
we do within the Group are
critical processes, those that
add the most value.
From your perspective, will The
Correa Group continue to be
a family-based multinational
from Burgos in the medium/long
term or will it relocate part of its
production to more profitable
labour markets?
We have 45 percent of a plant
in China, GNC Kunming, but
it is focused on the internal
market of that country. Our
strategy dictates that all
industrial growth will take
place in Burgos, with a supplier
environment that we consider
stellar and human capital that
is key for us, because Burgos is
a place where we can find the
profiles and talent we need.
What is your assessment of the
current percentage of women in
the company’s workforce?
We have, frankly, followed
a positive evolution. We
cannot be abstracted from
our environment: we are
historically a male sector, but
in recent years the female
#12

presence has been gaining
much more weight. In the
management team, women
reach 40 percent.
There are more and
more female engineers, a
significant percentage, but
not equal, because it is not
equal in universities either.
In production we have
incorporated our first female
assembly technician, which for
us is an important milestone,
and we hope that it will not
end there.
Is Burgos, and its Vocational
Training Colleges, still a pool
of professionals for the Correa
Group?
Burgos has always been a power
within Vocational Training.
We have some centres that
are very involved in quality
“We try to
manufacture
within
the Group
most of the
components
of the
machines we
sell”
training and connected to
the real world, close to the
company. And it’s not exactly
something new: when Nicolás
Correa was still based in Éibar,
he was already nourished by
the Burgos industrial expertise,
and that was one of the aspects
that our founder, Baldomero
Nicolás-Correa, valued as most
important when deciding to
transfer the company to Burgos
under the protection of the
Development Pole. And today
Vocational Qualifications and
Universities are a key factor not
only for Nicolás Correa, but also
to attract new companies to
our city. In our case, practically
one hundred percent of our
engineers are trained here.
What involvement does the
client have in the Correa Group?
The client is at the center of our
activity, he/she is the one who
gives us life and also nourishes
us of experience and knowledge
in a continuous cycle. The
market has been changing
and our client is no longer
just a machine, but a series of
processes and solutions and
needs technological support.
What we want is to add value
to our customers and generate
long-term relationships,
beyond being a mere supplier.
It is a marriage that must be
taken care of because it brings
us a lot.
How is the Group positioned
sectorally in Spain? And in the
world?
We are a major player in milling
machines, a very important
player worldwide within this
#13

Interview
photos: Alberto Rodrigo/db
machine/tool subsector. We
are in the Top 5 at this very
moment. It must be taken
into account that Spain is a
power in the manufacture of
machine tools; our greatest
competitors, in fact, are in the
Basque Country.
Given the current global
circumstances and the breadth
of the markets that The Correa
Group covers, to what extent
do you have to study a bit of
geopolitics to maintain and
improve results?
You have to study a lot, whether
it’s worth anything, is another
matter. Decisions made in the
political arena affect us very
directly. The Defense sector,
for example, is making brutal
investments right now, when
five years ago it was not that
important. What may happen
if the world divides into blocs
again may also affect us, among
other things because China
has become our main market,
and our relative position may
depend on the alliances that
China establishes with other
Asian countries. Fortunately,
“We are
convinced
that the
exercise of
transparency
is a good
habit, that
it is very
healthy
for the
organisation
and that
it brings
many more
positive
things than
negative”
The Correa Group has a great
capacity to adapt.
As a listed company on the
Stock-Exchange, transparency
and accountability are part of
its DNA...
We are a company that is
listed on the Stock Exchange
and therefore we owe it to
our shareholders, who have
to be aware at all times of
what is done here and how it
is done. And we also do this
out of conviction, because
we like to be transparent, also
with our own staff. We are
convinced that the exercise of
transparency is a good habit,
that it is very healthy for the
organisation and that it brings
many more positive things than
negative things.
China is today the main market
of the Correa Group. Do you think
you will stop being a customer to
become a competitor?
For us, China is a difficult
but familiar market, in which
we have spent many years
and where we have a very
important establishment, with
an industrial plant in which we
participate and a very powerful
commercial subsidiary, with 30
people working in Shanghai. It
is true that the Chinese market
is changing a lot, there is more
and more internal competition,
and its technological level
is growing, we are already
beginning to have Chinese
competitors. But there is still
a technological gap, the product
we make here is one step above
what is made there. We hope
that this step is maintained.
Is Germany still the object of
desire of the Group?
It’s almost an obsession in
this place. Our relationship
with Germany has had its ups
and downs, and now, finally,
it seems that we are finding
our place and we can take
advantage of all the potential
that this market has. It is true
that in recent years Italy has
exhibited a very important level
of investment, but Germany
continues to be the engine of
Europe, even though it is now
a bit constipated, and we hope
that it will become the main
market for us on the continent.
#14

A Company with history
75 Years of Going Full
Steam Ahead
In 1947, an entrepreneur named
Baldomero Nicolás-Correa opened a
small workshop in Éibar dedicated to
assembling milling machines (“machines
to make machines”) then very
basic which, grind, cut or drill
different metals. His first
clients were small, local
industrial plants, although
his ambition from the
beginning was to open up
decisively to the world.
Today, 75 years later, The
Correa Group is a Stock-Exchange
listed company that sells and installs
high-tech machines/tools all over the
world, customised according to the needs
of each client.
With the manufacturing plant in Burgos,
another in Kunming – where some models
of machines are produced and are sold in
the Chinese domestic market– and with
commercial subsidiaries in China, India,
the United States and Germany, Nicolás
Correa has become one of the most
reputable companies in the
sector, with China as the main
destination for its exports.
In recent years, the Group
has developed a strategic
concept, Correa 4.0, which
is committed to connected
machines that use technologies such
as 5G, virtual reality, artificial intelligence,
Big Data, simulation and connectivity.
In addition to the integration of new
technologies in design, for Nicolás Correa
there is a second axis that supports R&D
activities: customer needs.
#15

#16
A Small
Workshop
In Éibar
A small group of workers led by Jesús
Barragán began manufacturing console
milling machines in 1947 in a workshop
installed on the second floor of the Gipuzkoan
town. Seven years later, it begins to make its
way into international markets.
Baldomero
Nicolás-Correa and
Jesús Barragán,
founders of the
company.
Photo: fede file
Nicolás Correa’s
adventure begins in
Éibar, which after the
Second World War began to
transform its ancient gunsmith
tradition into a diversified
industrial network.
In a workshop installed on
the second floor of the Ascent to
Macharia, near the large Orbea
Bicycle factory, a small team of
workers began manufacturing
small console milling machines
in 1947. The factory, almost
artisan in nature, was set up
by two entrepreneurs who
had become brothers-in-law:
Jesús Barragán, who assumes
the technical direction and
had experience in mechanical
manufacturing, and Baldomero
Nicolás-Correa, a salesperson
based in Barcelona and long
interested in becoming an
industrialist. They will be
joined later by Carlos de
la Mota and Juan Carlos
Gallastegui, the latter as head
of production.
On February 1st, 1948,
the company “Máquinasherramientas
BC” was formally
established in Éibar. The job
creation and production
data for the first years of the
company’s activity show that
in 1949, with a workforce
of twelve people, the first
four milling machines were
manufactured. In September
1951, the company name was
changed to “Nicolás Correa y
Cía”, which is dedicated to the
manufacture of F0, F1U, F1V
and BC1100 universal milling
machines, suitable for all types
of manual machining.
Export Vocation. The man who
contributed his last name and
his character to that incipient
industry was born in Seseña
(Toledo) in 1906, descendant of a
family of farmers. The ambitious
commercial vision of the young

Agreement with
Oerlikon Bührle
n the 50s, Spain, which will
Ichange radically, suffers
hard times of isolation. And,
nevertheless, Baldomero Nicolás-
Correa is already committed to
directing the company towards
exports and decides to seek the
collaboration of a partner that
will help him open commercial
borders and provide him with
prestige and technology. The
opportunity arose in 1954, when
Correa arrived at an agreement
with the Swiss company Oerlikon
Bührle to manufacture machines
in Éibar under license and
trademark of Zurich.
This begins a co-operation that
would radically change Nicolás
Correa, back then, a quick read
with not much backstory behind
it. The technology and quality
control methods provided by
Oerlikon Bührle make the Eibar
company assume a new business
dynamic focused on demanding
quality criteria and enhance the
reputation of its brand. With
this label, Nicolás Correa began
to make its way in international
markets, a task that was very
complicated at the time due
to the scant Spanish industrial
tradition.
Spotting machine of the Oerlikon brand in the first facilities of the company. Photo: GNC file
Baldomero Nicolás-Correa led
the company to go abroad and
participate in the International
Fair of Izmir (Turkey) in 1954, to
come into contact with foreign
factories to build the machines
with their own technology in the
workshop de Éibar and to export
In 1949, with a
staff of twelve
people, the
first four
milling
machines
were
manufactured
its first two milling machines
to Chile.
Step by step, that primitive
workshop is giving rise to an
industry of growing dimension.
In 1952, a new location was
inaugurated, next to the
previous one, and 30 milling
machines were manufactured.
In 1955, 41 people worked in
the company and a turnover
of twelve million pesetas is
expected for the following
year. In the early 1960s, the
workforce would already have
close to 200 workers.
#17

Burgos:
Trip to
the Pole
Moved to the banks of the
Arlanzón, Nicolás Correa
inaugurated its new plant in
1965 and championed the
great industrial development
of the Castilian Capital. The
company will inaugurate
its headquarters on Calle
Alcalde Martín Cobos in 1988,
where it installs the factory
and builds a modern office
building.
Aerial view of the first factory of Nicolás Correa in Burgos. Photo: spanish landscapes
In 1960, the company
urgently needed more
space to continue growing
and to be able to manufacture
the larger and more powerful
milling machines that the
market began to demand.
Those were the times of
the Development Poles of
López Rodó and the restless
Baldomero had met some of
the main authorities of Burgos
on his trips, who offer him great
facilities to move his factory to
the banks of the Arlanzón. In
1962, the Burgos city council
granted him subsidised land
of more than 100,000 square
Nicolás
Correa was
the first
company
to reach the
new Burgos
that was
emerging
with unusual
strength
meters in Villímar to build his
new factory.
The history of the family
business had begun to change
forever, almost at the same
time as that of the Castilian
Capital: on January 24 th , 1964,
while the factory was being
built, the Council of Ministers
declared Burgos a Pole of
Industrial Promotion, which
provided a decisive boost to
the city.
Burgos became The
Industrial Capital of Castille:
in those nine years a hundred
companies were established,
with more than 19,000 million
pesetas of investment and
12,726 new jobs. Burgos went
from 88,825 inhabitants in
1964 to almost 125,000 in 1969.
The new industrial estates,
Gamonal and Villalonquéjar,
occupied a larger area than the
entire city back then.
Nicolás Correa was the first
company to reach the new
Burgos that was emerging
with unusual strength. The
brand new Gamonal factory,
with three floors built on
7,000 square meters, was
inaugurated on July 16 th ,
1965, after an investment of
111 million pesetas and the aim
#18

The Prince of Spain, Don Juan Carlos and Princess Doña Sofía, visit the plant in November 1965. Photo: db-file
of creating more than 300 jobs.
The forecasts pointed
towards a turnover of 100
million pesetas per year in the
first phase, with an annual
production of 700 machines of
the 18 types of Correa milling
machines that the company
manufactured at that time.
A few months later, on
November 16 th , the Prince of
Spain, Don Juan Carlos and
Princess Doña Sofía, visited the
facilities, and on July 5 th , 1968,
the Head of State, Francisco
Franco, did the same, officially
inaugurating the Industrial
Promotion Centre.
Factory
Plant
Expansion
Nicolás Correa
is a firm of
growing prestige that
exponentially increases
its commitment to
international markets
through the company
Sociedad Anónima
Correa Exportaciones
(Sacoex), established
in 1970. A few weeks
earlier the Government
had awarded
Baldomero Nicolás-
Correa the Medal of
Work, a distinction that
speaks for itself of the
importance that the
firm is gaining.
Almost at the
same time, his son
José Ignacio joined
the company as
secretary of the
Board and head of
exports. The company
takes its first steps
in the manufacture
of automated milling
machines.
The new decade
brings with it an
expansion of the plant
and in 1979 Nicolás
Correa is one of the
300 Spanish companies
that achieve the
highest volume of sales
abroad: 80 percent of
its turnover goes to
the most industrialised
countries in the world.
#19

The machine tool manufacturer began trading on the Madrid Stock-Exchange on May
19th, 1989 and soon reaped high returns. After the crisis of the 1990s, the Correa Group,
created in 2001, concentrates a wide network of industrial and commercial subsidiaries.
The company debut on the Madrid Stock-Exchange on May 19 th , 1989. Photo:bme
In the
Stock-Exchange
At the end of the 1980s,
the Stock-Exchange
became one of the
instruments that best reflected
the drive for progress and
modernisation of the Spanish
economy. In this context,
Nicolás Correa decides to carry
out its long-considered goal
of going public. It did so on
May 19 th , 1989. Shortly after, it
would also trade on the Bilbao
Stock-Exchange, an essential
requirement for shares to
be listed on the continuous
market, where it remains.
The firm is still today the only
company in the sector listed
in Spain and one of the few
Castilian-Leonese companies
that operate on the Stock-
Exchange.
The listing provided an
inflow of capital that allowed
the development of a strategy
that the Board of Directors had
been designing for some time
but held back due to lack of
resources. The company opted
for a moderate diversification
without straying too far from
its main occupation, then
focused on larger and more
sophisticated machines that
weighed up to 40 tons.
Crisis of the 90s. In the heat
of the expansive impulse of
German reunification, Nicolás
Correa opened a subsidiary
in Düsseldorf in 1990 to improve
control of his sales and
#20

GNC Hypatia facilities, in the Villalonquéjar Industrial Estate. Photo: Patricia/db
increased penetration in the
German country. But the outbreak
of the Gulf War triggered
a serious economic and financial
crisis in developed countries.
Correa’s shares, whose price had
reached 7,500 pesetas, fell in
1992 to 1,200, and the company
announced significant losses.
That ‘perfect storm’ begins
to subside when the decade
reaches its halfway point.
The company settles with its
creditors, the shares experience
a vigorous appreciation and, in
1995, the losses are drastically
reduced. The roller coaster of
the 90s has begun its ascent: in
1997 Nicolás Correa quadrupled
the sales of 1994, and the
stock market appreciation is
spectacular. In those years the
company launches the first
gantry machines, much more
precise and which until then
were considered a luxury item
for most customers. Nicolás
Correa democratises access to
this technology with the FP-
30 family, a revolution in the
market due to its competitive
price and high performance.
1998 is a historic year for
the company: 293 machines
are sold. Revenues amounted
to 9,503 million pesetas, with
a profit 40.6 percent higher
than in the previous year.
After overcoming one of the
most acute crises in its history,
Nicolás Correa has established
itself among the most efficient
companies in the world in the
sector and probably as the
best manufacturer of milling
machines in Europe.
The listing
provided
an inflow of
capital that
allowed the
development
of the
strategy that
the Board
of Directors
had been
designing for
some time
Correa
Group
is born
The creation of Grupo
Correa in 2001 opens a
new stage in the company’s
history. Actually, Nicolás
Correa had started to open
industrial and commercial
subsidiaries much earlier. In
1996, it acquired a supplier
of parts that is at the
origin of the current GNC
Calderería, established in
1978. From GNC Calderería
came the idea of creating
GNC Hyperbaric in 1999 to
delve into high-pressure
industrial machinery for food
preservation. Simultaneously
they would see the light
GNC Manufacturing (1997),
oriented to the assembly
of compact and repetitive
machine tools; and in 1999
GNC Electrónica and NC
Service were born.
After the formal
constitution of the Group,
GNC Manufacturing is
renamed GNC Hypatia, which
is dedicated to meeting the
demand for medium-sized
milling machines.
Currently, they are
part of the Correa Group,
as industrial subsidiaries,
Caldereria, Electronica,
Hypatia and Service. The
firm concentrates five
factories in Burgos, four
of them located in the
Villalonquéjar industrial
estate and the headquarters
of the parent company,
in the Gamonal industrial
estate. The Grupo Correa
umbrella also covers four
commercial subsidiaries in
various markets through
offices in India, the United
States, Germany and Asia.
#21

Nicolás Correa landed in China with the sale of his first machine, in 1984. He installed
a production plant in 2006 and today constitutes his first market, thanks to which he
managed to overcome the very serious economic and financial crisis of 2008.
Chinese Vice Premier Han Zheng and Shanghai Vice Mayor Qing Wu at the Grupo Correa stand at CIIE 2020. Photo: GNC file
Route to the
East
In 1984 Correa sold its first
machine in China, a sale
that has gone down in the
company’s history as the first
reference in what is today its
largest market. In 2003, the
Correa Group established a
commercial delegation in the
city of Shenzhen with a wide
network of agents to market
and offer technical service to
the local market.
The company will take
the decisive step towards
the Asian country in 2006.
Nicolás Correa, faithful to its
internationalisation process,
opens its first production plant
abroad in the Chinese city of
Kunming, more than 9,000
kilometres from that small
workshop in Éibar where in
1947 it had manufactured its
first milling machines.
In 2019 the Group opens
a commercial subsidiary in
Shanghai with a staff of 30
people. A pioneer in a then
inhospitable market, today
the Group can boast of having
more than 400 machines
supplied in the Asian giant,
which accounts for a third of
its sales.
In 2005, the company bet on
an operation that will increase
its size and its R&D capacity:
the absorption of its former
competitor Industrias Anayak,
based in Icíar (Guipúzcoa).
#22

Looking
to the Future
Today, the Correa Group
continues to be committed
to opening up to new markets
and sectors, with a growing
number of clients in fields such as
defense, the automotive industry,
and the energy and railway
sectors. He faces the next few
years guided by a Business Plan
that involves a huge investment
program. A 20,000 square meter
plot has already been acquired in
Villalonquéjar for the expansion
of Hypatia.
The Correa Group will also
have another plot independent
from the parent plant and where
“the factory of the future” will
be developed, which will allow
the vast majority of the structural
parts of all the machines it
manufactures to be machined
and will free up a large assembly
capacity in the plant current. At
the same time, it will function as
a Show Room where the latest
technological developments
provided by Correa milling
machines will be exhibited.
Nicolás Correa’s commercial delegation in China in 2004, led by Guillermo Garcia Díaz-Ambrona (together with the
president of the Group) and the area managers, Walson Zhenh and John Chen. Photo: GNC file
Divergences in business
culture will prevent Nicolás
Correa’s second adventure in
Gipuzkoa from prospering,
but the absorption of Anayak
brings with it a significant
change in the Group: the
spin-off of the divisions
and non-strategic assets,
transferred on mass in 2006
to a newly created company,
Inmobiopres Holding (IBP),
where GNC Inmobiliaria, NC
Service and GNC Hyperbaric
(already outside the Group)
were integrated.
2008: The Great Upheaval.
After experiencing
uncontrolled growth, the
Group began to suffer the
effects of the Great Crisis in
all its harshness from 2009,
going from billing 114 million
euros in 2008 to 31 in 2010,
and those responsible came
to fear for survival of the
company. It even has to resort
to a temporary employment
regulation file to weather the
drop in orders.
2012 will be the worst year of
the recession for the company
from Burgos, but from that
point on the situation gradually
improves, thanks, above all, to
the foreign market.
Nicolás Correa closed
2014 with a profit, after
four consecutive years in
The
company
will take
the decisive
step towards
the Asian
country
in 2006,
when it
opened
its first
production
plant abroad
in the
Chinese city
of Kunming
the red. In this scenario, in
June 2015 the Group sold 10
percent of its shares to the
South Korean machinery
manufacturer Doosan with
the purpose of gaining stability
and commercial efficiency
abroad, especially in South
Korea, the United States and
in the countries from Eastern
Europe. The strategic alliance
will last until 2018.
With Carmen Pinto as the
new CEO, the manufacturer of
milling machines confirms its
positive evolution and closes
2018 positively thanks to the
general push of the market and
the notable increase in sales
in China.
#23

Correa Group Organisation Chart And Structure
Organisation Chart
Board of
Directors
• José Ignacio Nicolás-Correa
• Ana Nicolás-Correa
• Sancor Capital, S.L.
• Felipe Oriol
• Carmen Pinto
• Alfredo Sáenz
• Rafael Miranda
President/Chairman
• José Ignacio Nicolás-Correa
CEO
• Carmen Pinto
Financial Department
F.D./CFO Victoria Pascual
A.D./A.CFO Raquel Gutiérrez
Technical Department
C.D. Ignacio Gómez
T.D. Javier Hernando
CO. D. Carlos Arnaiz
AP. D./MK. D. Javier García
SAT. D. Ana R. Sáez
E. D. Víctor Diez
P. D. José M. Aller
Human Resources
HR. D. Mario Villamudria
Industrial
Subsidiaries
NC Service
28
Employees
€ 2,715,829
Billing/invoicing
€ 101,513
Results
STAKE: 88%
Business Affiliates
GNC India
2006
Opening Year
10
Employees
88
Machines Installed
Joint venture Kunming
#24

Structure
of the Group
Factory Plant
Burgos
Basic Info on Nicolás Correa, SA and
subsidiaries
Nicolás
Correa, S.A.
Income/intake:
€ 76,500,000
% Export:
94,11 %
Profits:
€ 5,700,000
Number of Employees:
350
GNC Electrónica
STAKE: 88%
44
Employees
€ 2,556,000
Billing/invoicing
€ 220,000
Results
GNC Calderería
STAKE: 94%
55
Employees
€ 6,885,000
Billing/invoicing
€ 194,000
Results
GNC Hypatia
STAKE: 94%
44
Employees
€ 18,304,000
Billing/invoicing
€ 1,032,000
Results
GNC Deutschland
2015
Opening Year
13
Employees
+500
Machines Installed
GNC Asia
2019
Opening Year
31
Employees
243
Machines Installed
GNC USA
2013
Opening Year
4
Employees
181
Machines Installed
Data corresponding to the end of 2021
#25

gnc hypatia
Out of this
World
Born in the 90s to manufacture smaller
serial machines, today Hypatia is the great
little revolution of the Group with sales all
over the world, high-tech developments
and an expansion project.
This subsidiary of Grupo
Correa has had up to
three names – with a
94 percent parent company
participation – which has
grown exponentially since
its inception at the Group’s
headquarters in 1997. It
began by manufacturing
the smallest and most
standardised machines
under the Correa brand,
minimising costs without
lowering quality and making
the entire manufacturing
process profitable. It achieves
this by professionalising
standardisation, that is,
unifying parts and simplifying
processes and options,
being capable of developing
several different models
of milling machines with
high performance, greater
flexibility and lower costs.
Since the creation of their
engineering department, they
are also capable of covering the
entire process, from design,
manufacturing and assembly
at the customer’s home base
to after-sales services. That
happened in 2000, a crucial
year for the company, which
was gaining its own space,
as Fernando Huidobro, the
company’s first employee,
current General Manager
and the person who accepted
the challenge of starting the
company from scratch, recalls.
A company that closed 2021
#26

900
machines sold all over
the world, demonstrate
its dedication to gain
international reach
20
thousand square meters
of industrial land already
acquired to consolidate the
future of Hypatia
> Assembly of an automatic tool loader. Photo: valdivielso/db
> Currently, almost fifty people make up the Hypatia staff.
Photo: patricia/db
48
professionals between
engineers, commercial
reps, central services and
production staff
with a turnover of 18.3 million
euros, which today directly
markets several Correa brand
milling machines and supplies
various accessories to the
parent company and to third
parties.
Renamed Hypatia, in
2009 another process of
transformation and greater
independence began within
the Group, which, in addition
to launching new models of
milling machines, designs and
accessories: various models
of second-generation heads
and, above all, automatic tool
loaders (ATC’s). In this vertical
integration practiced by the
Group, around 70 percent
of the milling machines that
leave the matrix have an
automatic exchanger built to
measure in Hypatia.
They share the philosophy
of the Group, which limits
its market to the world,
and they sell practically all
2009 was
a key year
for Hypatia:
it gained
space and
began to
market its
products
20,000
square
meters of
future in
sight
The Group’s
strategy includes
the expansion of
Hypatia, which has
acquired a plot of
land in the same
industrial estate.
Space to design more
ambitious models
of machines and
increase the current
production capacity.
The pandemic has
paralysed, for the
moment, this project
that will also seek an
increase in staff.
over the planet. 80 percent
of its market are European
companies and the remaining
20 percent of its machines
– there are 900 around the
world – travel to Canada, the
United States, several Arab
countries, India, China (also
to the GNC Kunming joint
venture), fundamentally in
workshops of various sectors
of activity.
After the 2009 crisis
and the rest of the ups
and downs suffered by the
machine tool sector, the year
2016 was another turning
point for Hypatia due to
organisational changes and
business management. From
there, their main business
magnitudes begin to grow
almost as much as the milling
machines they design. In 2021,
they sold 50 machines and
managed to capture orders
worth 33 million euros,
doubling their market share.
#27

gnc calderería
Veins of Steel
One hundred percent owned by Correa, with which the vertical integration
of the Group began in the mid-1970s. It is one of the leading boilermakers in
Spain with modern automation process systems.
It was the first of the industrial
subsidiaries of the Correa
Group and the one that
has followed a different path
from the rest in terms of its
conception. GNC Calderería
arises from another company
(Amahe), a mechanical
workshop with a high degree
of specialisation in welded
complexes for capital goods
that was associated with Nicolás
Correa in 1989 after he acquired
60 percent of the company. Ten
years later, it became part of the
consolidated perimeter of the
Correa Group, which acquired
one hundred percent of the
> Welding of thin
sheet metal at the
GNC Calderería
facilities
Photos: patricia/db
shareholding. It was also within
the company that the idea of
working with high pressures
in the food sector arose in 1999,
which led to the creation of
Hyperbaric, a company that is
no longer within the perimeter
of the Group, but rather in the
Calderería client portfolio.
#28

They deal with the
design and manufacture of
mechanically welded and
machined structures, fairings,
protections and other sheet
metal parts mainly in carbon
steel and stainless steel tailored
to the needs of each project.
The level of standardisation is
almost nil, explains its general
director, Óscar Terreros, who
defines the work as almost
handmade.
In the warehouse of
more than 4,000 square
meters of the Villalonquéjar
industrial estate where they
are located, they work in
four main sections to satisfy
the high demand of their
clients, mostly multinationals
based in Spain from the
railway, wind, aeronautical,
All the
fairings of
the Correa
milling
machines
come out
of the GNC
Calderería
facilities
50
percent of GNC
Calderería’s clients
are Correa Group
companies and
the other 50% are
external
automotive and of capital
goods preferably. It has
powerful engineering project;
a thin sheet metal section
dedicated to fairings and
protections for machine
operators in sets of up to
five tons; while in the heavy
plate section the volume of
the pieces can reach up to
40 tons, encompassing large
structural assemblies. In 2014
these sections of traditional
boiler making added the
possibility of also machining,
which adds value to the entire
design process, creation and
welding of parts. To get an
idea of the size of the pieces
that come out of the Boiler
Shop, it is enough to imagine
the tools used to transport
wind turbine parts.
60
professionals
currently work in
the company, which
has a powerful
engineering team
State-ofthe-art
technology
for a
handmade
finish
GNC Calderería
is currently an
elite boilermaker in
its sector, modern
and technologically
very advanced.
During the last
few years, it has
made significant
investments in
equipment – more
than three million
euros since 2013 – in
order to be able to
meet the demands
of its clients and
always deliver a
polished product
that does not need
more intermediaries
to install it directly
in the client’s home
base. Correa brand
philosophy and yet
another example of
vertical integration
of the entire Group
for a productive
sector that still
maintains processes,
especially those of
fine metal sheet,
of artisan cutting.
Pieces for large
companies from
various sectors
come out of
his workshops,
including some
very special cuts
and shapes, such
as the enormous
sculpture made for
the Brotherhood
of Blood Donors of
Burgos.
#29

gnc electrónica
Cable
to Earth
With its own technical engineering and
a very high degree of specialisation, the
smallest (and youngest) of Grupo Correa’s
industrial subsidiaries ask to give way
(and space) to continue innovating. Every
project within the Group begins with an
electrical diagram. And that is what they
develop.
There is something
less annoying than
doing what your own
customers do, and that is
doing what your suppliers do.
Perhaps it is less tempting and
safe than much less dangerous.
This reflection, which belongs
to the president of
Grupo Correa, is
what the company
itself promoted since
the late 1970s. Under
this philosophy,
GNC Electrónica was
born in December
1999, with 88%
participation by Grupo Correa.
In industrial language it is
called vertical integration and
in the Correa Group it is one of
its hallmarks. Its machines are,
in everything that can provide
added value, one hundred
percent Correa. There are also
external suppliers, as in the
case of motors (Siemens) or
the numerical control of the
machines.
The projects
of this SME
with an
international
vocation, are
tailored to
each client
GNC Electrónica was
founded by the perceived
need within the Correa Group
to take control of all the
electrical and electronic part
of the machines in an attempt
to anticipate digitalisation.
The company was born with
a single worker who
is today its General
Manager, José Carlos
Martínez, and it was
created practically
out of nothing in
a space borrowed
from another of the
subsidiaries. It was
not until 2003 when, already
with a dozen workers, it began
to work for other external
companies with the focus
also on never losing market
reference.
One of the keys to their
success within companies
that manufacture specialised
capital goods, and the most
recognised by their clients
inside and outside Spain, is
> Today there are milling machines that incorporate more than one electrical cabinet.
Photo:patricia/db
#30

23
professionals currently
work at the plant
located in Villalonquéjar
1.800
are the projects
developed in its more
than twenty years of work
22%
of the invoicing of the
last financial year of GNC
Electrónica comes from
companies outside the
Correa Group
Fast Charging Points at the Group’s facilities.
that they only use the latest
generation materials and that
all the elements installed in
the machines are perfectly
documented – they are
studying the implementation
of QR codes inside the parts –
to further facilitate equipment
traceability and after-sales
service. “We are good at what
we do”, they acknowledge
with some pride, and it is that
from GNC Electrónica, which
provides one hundred percent
service to Correa machines,
they also work for other sectors
such as food, rail, aeronautics,
renewable energies and capital
goods
The particularity they
highlight, is that their projects
always have personalised
designs according to the needs
and demands of each client.
With care. They face the future
with the uncertainty of the
moment, with their SME hearts
and international soul.
Ecological
‘brand’
chargers
for electric
vehicles
The Group’s
strategy,
shared by
its industrial
subsidiaries,
is to always
move forward
in an innovative
way, not only
in processes –
which already
exist – but also
in products.
This is how a
4.0 technology
project was born
in 2019 within
GNC Electrónica,
developed
together with
the University
of Burgos and
the Miranda
Technology
Center. These
are known as
Fast Charging
Points for
electric vehicles,
but with an
added value
that is the truly
differentiating
element. They
have an energy
storage system
that reduces
electricity
consumption and
achieves faster
charging and a
more efficient
use of energy
resources.
Several points
are already in
operation at the
Group’s facilities
and at a winery
in the Ribera del
Duero.
#31

nc service
Top Service
The Correa Group reinforces its vertical integration policy and its customerfocused
culture with the acquisition of 88 percent of NC Service to address
new strategic lines of global attention and after-sales service.
NC Service Milling
Machines was created
in 1999 and was born
like the rest of the subsidiaries
of the Correa Group, by the
hand of one of its workers and
current General Manager, Julio
de la Peña, who took on the
challenge of starting a new
company that mainly provided
service to the Group, but not
exclusively. This is how one
of the first service subsidiaries
of the parent company was
born, which is currently the
world’s largest specialist in
Correa machines and a reference
partner of the Group in terms
of providing technical service
and machine repair. In this
regard, its general director
points out that it is crucial
“to be at the manufacturer’s
side and to know all the
technological advances of the
brand”. NC Service is specialised
in the installation of milling
machines, it has two main
business lines, reconstruction
and sale of second-hand milling
#32

88
percent of the company
is owned by the parent
company
30
professionals currently work
in the subsidiary of Grupo
Correa
20
people make up the
Technical Assistance Service
(TAS)
> Repair of a spindle at the NC Service facilities.
>In the image above, two professionals calibrating a machine.
Round-Trip Ticket
In July 2022, the company returned to the
umbrella of the parent company after a
“separation” that has lasted 16 years. This
occurred in 2006, when the Correa Group
decided to acquire Industrias Anayak and, prior
to the takeover operation, Correa’s business
diversification companies –GNC Inmobiliaria,
GNC Hyperbaric and NC Service– formed the
IBP group (Inmobiopres Holding, SA). At
that time, NC Service had just moved to its
current location in the Villalonquéjar Industrial
Estate while it was successfully completing an
R&D project for the generation of electrical
energy through biomass. Today NC Service
–focused solely on the machine tool sector–
is back within the perimeter of The Correa
Group, which has acquired 88 percent of the
company’s shares.
machines, and is a reference
in the reconstruction of
milling machines following
the manufacturing and quality
standards of The Correa
Group. And, as a strategic axis
of the company –and now of
the Group–, NC Service has
an extensive team of highly
qualified professionals to offer
the Technical Assistance Service
with the capacity to install and
repair machines and heads in
any market in the world. This
has been precisely the strategic
bet of the Correa Group with
the return of NC Service to the
perimeter of the matrix.
The Group, which sells
solutions, needs a partner
who can effectively manage
all the after-sales service for
customers, and NC Service has
the experience, knowledge
and human capital capable of
carrying it out, which provides
a high added value to The
Correa Group and also allows
NC Service to continue with its
main line of business, which
is the retrofitting of milling
machines.
#33

gnc kunming
Local Partner
In 2006, The Correa Group took a quantitative leap and opened a manufacturing plant on
Chinese soil.It currently retains 45 percent of the shares of the ‘joint venture’ GNC Kunming.
Correa Km facilities in the city of Kunming. Photo:Correa group
China is, historically,
the most important
consumer of machine
tools in the world, with close
to 40 percent of the demand
for the entire planet, and it has
also become the benchmark
supplier in the sector. In this
sense, The Correa Group was
ahead of its time and with
“the world as a market”, as
its founder defended, the
conquest of the Asian country
began in the 1980s and was
consolidated with a serious
business proposal already
in the year 2000, becoming
the first industrial project of
a European manufacturer of
milling solutions in China.
The city of Kunming, in
the province of Yunnan, is
home to the GNC Kunming
13
thousand
square meters
of production
plant the
Group has on
Chinese soil
45
percent of the
company’s
shareholding
is in the hands
of The Correa
Group
(GNCK) production plant, a
joint venture together with
the local company Smartech
Machine Tool Manufacturing
Company Ltd, which is
currently -and since 2016- its
majority shareholder, with
55 percent of the company’s
capital, with the Spanish group
retaining the remaining 45
percent.
It was created in 2006
by both companies and is
specialised in the assembly
of serial milling machines to
initially meet the demand of
the Chinese market and, in a
second phase, to supply other
markets, as a complement to
the customised machines
manufactured in the plants
in Spain. In this sense, the
manufacture of the heads is
centralised in Burgos, which
are the most complex part and
the one with the highest added
value of the Correa milling
machines. In Kunming they
began manufacturing and
assembling milling machines
from the Diana family and the
FP-40. Currently, old models
are produced –those that are
no longer manufactured in
Burgos–, which are marketed
under the Correa Km brand.
With the opening of the
group’s first plant abroad,
the Correa Group opted
for a significant transfer of
knowledge and processes.
In fact, when it was set up, a
group of Chinese professionals
went to Burgos to learn the
techniques applied by the
Group.
#34

gnc deutschland
The Correa Group in 1977 at the main machinery fair in the world, the EMO, in Hannover Photo: Correa group
Gates of
Europe
The reindustrialisation of Europe has the Correa seal
and Germany is the proposal for the future of the
Group, which has been working in the country since
the 1990s and has been officially established since
2015 in the city of Vöhringen.
The export vocation of
The Correa Group has
been in its DNA since
the beginning of the company.
Today the export activity of
the company represents 94
percent of its turnover volume
-closing 2021-. This scenario
has also led to the maintenance
of a vast network of marketing
and after-sales services for its
products. To the more than 50
points in which the Group is
present in the world in some
way (with sales and after-sales
services), four commercial
subsidiaries in various markets
are added in order to offer its
customers around the world
the best possible service.
In Germany, Correa has
been present since practically
the fall of the Berlin Wall, with
more than 500 machines
installed and commercial
activity dating back to 1990.
But it is in 2015 when the
commitment to this market
is redoubled with the opening
of a subsidiary in the city of
Vöhringen.
Correa Deutschland, with a
staff of thirteen professionals
and a wide network of local
agents, is in charge of marketing
the range of Correa machines
4
Commercial
subsidiaries
of the Correa
Group:
Germany,
India, Asia
and the USA
13
professionals
currently
work in the
German
subsidiary of
the Group
throughout the country and
offering technical service and
other value-added services to
the Group’s customers.
The German subsidiary
has always been a challenge
for the Group and two years
ago its commercial structure
was seriously strengthened,
and it was also committed
to providing it with its own
SAT -previously the service
was provided from the
parent company-, since in
the Group they are aware of
this commitment to the future
and the need to offer clients a
professional ‘in house’ service.
Today Germany, together
with Italy, forms the industrial
heart of Europe and is one of
the Group’s main challenges.
In fact, the company’s growth
plan contemplates tripling
sales in Germany by 2023
compared to the end of 2020,
in addition to consolidating
its own after-sales assistance
network. Sales have been
boosted after the pandemic
and it is one of the main
markets. In addition, the
company anticipates a prompt
expansion in the country and
a change of headquarters.
#35

gnc asia
Inauguration ceremony of the subsidiary in the city of Shanghai in 2019. Photo: Correa group
China, The
第 一 市 場
first market
Correa Group’s relationship with the Asian giant
began in 1984 with the sale of a first machine at a fair in
Tianjin. Today they have a commercial subsidiary, a
multidisciplinary team and a production plant.
Asia has become the first
market of the Correa
Group. A market in
which Nicolás Correa landed
timidly but boldly in the mid-
80s, and which has been
consolidated over time. Today,
China maintains the growth
levels with which the recovery
began after the pandemic and
consolidates itself as one of the
Group’s main markets.
In the presentation of the
results of the last financial
year, the CEO of the company,
Carmen Pinto, explained
that having a consolidated
structure in the country itself
has been key due to the mobility
restrictions imposed in the
pandemic. In 2021, the Group
has strengthened its position
in the Asian region, becoming a
reference supplier of imported
milling machines, especially
large machines aimed at the
aeronautical and wind power
sector, despite the competition
from Chinese and European
manufacturers.
To understand the success
of the Group in Asia, one must
go back to the 2000s. It was
in the first decade that Correa
established a commercial
delegation in Shenzhen with a
wide network of agents to sell
and offer technical service to the
local market. But the company
will take the decisive step in
the Asian country in 2006 with
the opening of the joint venture
GNC Kunming, of mixed capital,
where it begins to manufacture
31
professionals
currently
work in the
commercial
subsidiary of
The Correa
Group in
Shanghai
94
In this
year, the
first gantry
machine
is sold to
Mitsubishi
Shanghai
Elevators
and assemble several families
of milling machines under the
Correa brand.
And years later, in 2019,
the commitment to the Asian
market is consolidated with
the opening of a commercial
subsidiary in Shanghai, which
has managed to establish
the group’s presence in
the Asian market, as well
as the generation of new
high value-added services.
GNC Asia has a Chinese-
Spanish multidisciplinary
team made up of 31 highly
qualified professionals. The
facilities include a clean room
for repairing heads and a
warehouse for critical spare
parts and exchange heads
to assist the Asian region
(Malaysia, Indonesia, Thailand
and Vietnam), where there
are more than 400 machines
installed. The subsidiary also
has 4.0 connected machine
services such as telediagnosis
and VIXION, which monitors
the machines in real time.
The Correa Group continues
to consolidate its position,
being a reference supplier
of large milling machines.
In fact, in 2021 projects have
been signed with two of the
most important industrial
component manufacturing
companies in China.
#36

gnc india
Indian Hub
The Correa Group
already bet on the
industrial ecosystem of
India in 2006 and today
this subsidiary has its
own Applied Engineering
with 11 employees who
offer commercial and
technical service.
Professionals from the Indian branch in the city of Pune. Photo: File Correa
In a country of close to two
billion inhabitants and,
according to a recent ICEX
study, ranked seventeenth in
the ranking of machine tool
producers and twelfth as a
consumer worldwide, the
presence of The Correa Group
is strongly consolidated.
There are currently a dozen
Spanish companies in the
machine tool sector operating
in India since, as the ICEX
thesis reinforces, it has been
showing a strong upward
trend for several years.
Experts affirm that this
phenomenon is related to the
spectacular increase in the
country’s overall production,
the key being machine/tools
for its economic growth. In
addition, and it is a crucial
piece of information, as far
as the composition of the
market is concerned, national
production only represents 45
percent of total consumption,
while the rest is imported.
For the Correa Group, this
market was already key since
88
are the Correa
machines
installed
in India at
present
10
technicians
make up the
Engineering
team,
with two
applications
engineers
2006, when it already had
native delegates and highly
qualified technicians who
deal with both the start-up
of equipment and technical
assistance. Nicolás Correa
has had a strong presence
in India for years. The
subsidiary has an extensive
sales network and offers an
after-sales service made up
of technicians with extensive
experience in Correa milling
machines. It also has an
Applications Engineering
department made up of a
team of ten engineers who
provide a very high added
value.
Correa India, the Group’s
subsidiary in the country,
is located in the city of
Pune, in the western state
of Maharashtra. Its team
of engineers, with years of
experience in the sector,
offer numerous services to
Indian clients such as on-site
machine repairs, machining
services and ‘turnkey’ projects
through Indian clients.
The penetration of the
Correa Group in India, with
more than fifteen years of
presence, is evident in the
88 large milling machines
installed in the country today.
The needs of the Indian
market have not stopped
growing since the group
opened the subsidiary and,
in recent years, Correa India
has also incorporated a head
repair service.
In addition, true to its
tradition, the Group always
presents its technological
innovations at the most
important machine tool fair in
India, the IMTEX in Bangalore,
which is complemented by the
Machine Tool Expo, which is
held every year in a different
location of the country.
In 2010, The Correa Group
celebrated an anniversary
ceremony in the city of Pune
with the presence of the Group’s
president, José Ignacio Nicolás
Correa, The Correa India staff
and the most important clients
in the country.
#37

gnc usa
American
Dream
The Correa Group has a
commercial subsidiary
in the United States since
2013 to provide technical
assistance to the nearly
200 machines installed
throughout the country.
Initially located in
Houston (Texas), they are
currently immersed in a
growth project.
In addition to an extensive
commercial network in
more than fifty countries,
The Correa Group has
commercial subsidiaries in
various markets in order
to provide its customers
around the world with the
best possible technical and
after-sales service. As a result
of this policy, the commercial
subsidiary in the United
States was created in 2013,
which began to be operational
in 2014. For the company
from Burgos, its presence
in North America is just as
strategic as the sector itself,
since the United States It is
one of the main markets for
machine tools in the world,
both as an importer and as
an exporter.
This company, located in
Texas (Houston), was created
by one of the main agents of the
Correa Group in America, the
company Koch Machine Tools,
with a strong establishment as
September 1974, the founder of the group, Baldomero Nicolás-Correa, embarking for the ITMS in Chicago, one of
the most important fairs in the world. Photo: correa file
a distributor of machine tools
and, above all, with a qualified
team of after-sales support
technicians.
When it was launched, in
addition to the commercial
activity, it was created with
the aim of improving the
technical assistance service
in a country where The
Correa Group currently has
181 machines installed. The
two employees who began
the company’s adventure in
America have been joined by
two other highly qualified
professionals –two Spanish
and two American– and
are currently immersed in
4
employees
currently
make up
the staff of
GNC USA
181
Correa brand
machines are
installed on
American soil
a change of location and
an increase in their own
infrastructure in the United
States.
As in the rest of the
international markets in
which it is present, the
Correa Group participates in
the main machine tool fairs
around the world. In North
America, the Group has been
presenting its innovations,
especially technological and
product innovations, since
the 1970s at one of the most
internationally recognised
fairs in the sector: the IMTS
(International Manufacturing
Technology Show) in Chicago.
#38

Activity Sectors
Correa milling machines are used today in sectors
such as the automotive, aeronautical, energy, wind
and defence sectors, as well as in some international
scientific projects.
Multiple
Uses
The Correa Group manufactures customised machining solutions for the main strategic sectors.
Large subcontractor machining
workshops and companies
in the automotive and energy
production sectors are part of
Nicolás Correa’s most loyal clientele.
Likewise, the Group has extensive
experience in the machining of the
main components for the oil & gas
industry and in the manufacture of
large milling machines for the wind
and aeronautical sectors.
Together with a prominent presence
in the railway and defense sectors,
the Group has been penetrating
other sectors. Thus, one of the world
leaders in the manufacture of civil
engineering machinery, JBC, which is
listed on the English Royal Exchange,
has acquired several FENIX DUPLEX
and FENIX machines for its plants in
India. And TRUMPF also stands out
(One of the top three companies in
the world for machine/tool solutions
and laser technology).
Equipment
Goods
N
icolás Correa
offers one of
the largest ranges
of milling and millturning
solutions
on the market
for the capital
goods sector,
which requires
flexible solutions
with a high level
of customisation.
Within this
segment, some
applications stand
out in which the
Correa Group
has always had a
great presence,
with alternatives
developed
for machining
crane arms and
construction
machinery or
machining for
machine tools.
#39

Electric
sector
On
wheels
High-Flying
Solutions
Downwind
War
Machines
Power production
has always been
a major focus of
attention for all
manufacturers of
large milling and
mill-turn machines.
Nicolás Correa
tries to customise
his milling
solutions to adapt
to the different
components that
make up this
sector. In this area,
the project of
the French utility
Electricité de
France (EDF) for
the modernisation
of its maintenance
workshops has
resulted in the
investment of
three milling and
turning centres
of the Spanish
manufacturer.
The automotive
industry has
been and continues
to be one of
the Group’s key
development
sectors. For this
reason, Correa
machines have
four key features
to address the
machining of
stamping dies and
injection moulds:
damping capacity,
robustness,
thermal stability
and head
technology.
Jaguar Land
Rover, one of the
most prestigious
automobile
manufacturers
in the world, has
recently joined the
company’s client
list.
Nicolás Correa has
maintained a
fruitful relationship
with the aeronautical
sector, from his
involvement in
national projects
such as Aerofive and
his intervention in
the manufacture
of the European
Airbus A-380 model
at the beginning of
the 21st century to
modern projects of
great importance
and technological
complexity, such
as flight simulators
or missiles.
The machining
solutions that the
company provides
to companies in
this sector are
based on its ability
to manufacture
interchangeable fiveaxis
heads.
Wind power is
one of the
sectors in which
the Correa product
best fits. The
company has more
than 15 years of
experience in the
manufacture of
large “Box in Box”
mobile column
milling machines,
which, together
with indexed head
technology Correa,
offer adequate
strength for the
large roughing
required in this
sector. One of the
company’s main
clients is NGC
Gears (China),
one of the largest
manufacturers in
the wind energy
sector worldwide.
T
he robustness
of the machinehead
assembly of
the Correa machine
allows it to
machine alloys and
super alloys often
used by the military
industry. Thus,
the Correa Group
won a contract in
September 2021
with Navantia,
a Spanish public
company dedicated
to the design
and construction
of warships, to
mechanise the
engine blocks of
the F-110 frigate
of the Spanish
Navy. Among the
Group’s clients
in the Defense
sector, Babcock
International, Bae
Systems and Otokar
also stand out.
#40

Experimenting
New Methods of
Application
Big
Pieces
Subcontractor
workshops for
machining large
parts continue to
be key customers
for Nicolás Correa.
The company
offers you the
widest range of
milling machines
and heads on
the market. An
automatic head
change system
that uses the
same interface on
all the machines,
guaranteeing
maximum flexibility
to be able to attack
a wide variety of
pieces. Robust
heads, designed
to work in difficult
conditions, hard
materials, long
tools, difficult
accessibility.
Full
Throttle
The company
has extensive
experience in
machining parts for
the railway sector,
both in terms of
rolling structure
and road structure.
Due to its relevance
in a sector of great
strategic importance,
it is worth
mentioning the
Group’s relationship
with Bombardier
Transportation, a
railway equipment
manufacturing
company that has
installed a FOX
milling machine and
two FOX M milling
machines in the
Czech Republic.
Bogies, chassis,
engine blocks,
needle changes,
are some of its
applications.
Gas
and Oil
A
nother of
the strategic
sectors in which
Nicolás Correa
has specialised
in recent years
is the machining
of the main large
components in the
Oil & Gas sector.
Correa milling
machines have
different machine
architectures
perfectly adapted
to address
applications for the
oil and gas industry
such as stabilizers
(Stabilizer), roller
reamers (Roller
Reamer) and fluid
distributors (Fluid
End).
The milling machines
that are manufactured
today at Nicolás Correa
are machines that meet
demanding quality and
productivity parameters,
highly digitised, connected
and with a high degree
of robotisation and
automation. The Correa
4.0 concept is related to
requirements such as 5G,
connectivity, robotics and
virtual reality, and the
company’s main efforts are
focused on customisation
and the incorporation of
greater added value to
machines with a complex
weight technology that are
designed and manufactured
according to the specific
demands of each client.
Thus, the company
continues to experiment
with new avenues of
application. Machines with
the Burgos seal have been
used to make a series of
pieces of ITER, the preindustrial
fusion reactor
that an international
consortium is building
in the south of France
(near Marseille). And the
company has also taken
part in the construction
of the largest machine in
the world, the particle
accelerator of the European
Centre for Nuclear
Research (CERN), located
in Switzerland, whose
managers announced in
2012 the discovery of the
Higgs Boson. The company
is also going to install a
large machining centre in
Navantia to manufacture
the engine blocks for its
new frigate.
#41

Presence of the group in the world
Correa
Figures
1 central manufacturing plant
Burgos
4 industrial subsidiaries
GNC Hypatia (Burgos)
GNC Calderería (Burgos)
GNC Electrónica (Burgos)
NC Service (Burgos)
4 commercial subsidiaries
GNC Deutschland
GNC Asia
GNC India
GNC USA
Canada
1 joint venture
Kunming (China)
USA
400 direct employed personnel
Machines Installed in
37 countries
1,000 bridge-type milling machines
1,000 traveling column milling machines
3,500 fixed bench milling machines
Mexico
15 MACHINE FAMILIES
Brazil
Sales end of 2021
94% Export
6% Domestic Market
46%
Rest of Europe
Rest of the world
48%
6%
Spain
#42

#43
Spain
Spain
Australia
Australia
Indonesia
Indonesia
Thailand
Thailand
Russia
Russia
Kazakhstan
Kazakhstan
China
China
South Korea
South Korea
Romania
Romania
Bulgaria
Bulgaria
Turkey
Turkey
India
India
France
France
Italy
Italy
United Kingdom
United Kingdom
Portugal
Portugal
Arab
Arab
Emirates
Emirates
Singapore
Singapore
Malaysia
Malaysia
Germany
Germany
Netherlands
Netherlands
Lithuania
Lithuania
Norway
Norway
Sweden
Sweden
Finland
Finland
Latvia
Latvia
Poland
Poland
Denmark
Denmark
Estonia
Estonia
Belgium
Belgium
Switzerland
Switzerland
Hungary
Hungary
Austria
Austria
Czech Rep.
Czech Rep.

Technological Evolution
From the Crank
to Big Data
From manually operated machines to artificial intelligence,
scientific advances and the research vocation of Nicolás Correa
have led to a dizzying evolution
#44

#45

Technological Evolution
There is little or no
resemblance to the
first milling machines
manufactured by Nicolás
Correa at his Éibar plant
(those venerable, manually
operated, BC1100 and
BC2000 that were produced
in series, less than two
meters high and weighing
just over two tons) to the
sophisticated machines
that come out today from
the Burgos factory on Calle
Alcalde Martín Cobos,
whose most recent models,
AXIA, VERXA, ORIX,
MAGNA, XPIDER, FENIX
and FOX, reach 12 meters
in height and 30 in length,
have weighing more than
80 tons and are capable
of performing the most
complex tasks required
by each client. And yet,
their function remains
essentially the same: they
are “machines that make
machines”, designed
to carry out different
machining operations
on different types of
metals. The progress of
scientific knowledge and
the research vocation of
Nicolás Correa have made
possible an evolution that
is sometimes gradual,
sometimes dizzying, of
milling machines that,
from rudimentary origins,
today move naturally
between concepts such as
digitalisation, cybersecurity
and Big Data. It may
seem like a long road, but
between the manual milling
machines of the Macharia
Ascend workshop and the
Correa 4.0 strategy, barely
75 years have elapsed.
1982. Automatic tool
change system. Nicolás Correa
begins to install automatic tool
changers (ATC - Automatic Tool
Changer). From this moment on, the
machine is capable of changing its
tools autonomously, which allows
for increased productivity and the
automation of cutting processes.
1987. First family of
CNC bed-mounted machines. A30.
The Correa A-30 milling machine
incorporates numerical control for the
first time, one of the great innovations
in the technological evolution of this
type of machine. In addition, its larger
size allows machining larger parts.
1990. First family
of mobile column machines. L30.
Nicolás Correa Nicolás launches its
first moving column machine, which
allows the machining of large parts
and pendulum work.
1991. 1st generation head
change system. Nicolás Correa installs
the first automated head change
system on one of his milling machines
in his machining shop. The machines
thus acquire great flexibility and allow
the five faces of a prismatic piece
to be worked in the same setting.
Initially, this head change system
started from a direct vertical outlet to
which a bent head was coupled that
rotated every 2 and a half degrees.
Later an interchangeable orthogonal
head would be developed in the same
system.
#46

1996.First
family of bridge machines.
The FP range represents a
totally innovative bridge
machine concept that allows
Nicolás Correa to become the first
European manufacturer of this type of
milling machine.
1997. First head of
two continuous axes.
Nicolás Correa designs
and manufactures the first
head with two continuous
axes, the C5E head,
which allows the milling
machine to machine by
moving five axes at the
same time and generating
complex shapes and surfaces that
were impossible to manufacture until
then. This technology encourages
Nicolás Correa to tackle new sectors,
such as aeronautics and military. As
a consequence of this development,
the company entered the US market
by selling a multitude of FP machines
with C5E heads to the civil and
military aeronautical sector.
2000.First latest
generation differential indexing
head (UAD) Global Patent.
Nicolás Correa develops the latest
generation indexed
head incorporating a
differential twist into the
existing technology. This
innovation, consisting of
the combined spin of two
Hurth Crowns, represents
a great step within the
sector. Correa’s differential system is
patented in more than ten countries
and the Group begins to sell its
machines with a head that provides a
competitive advantage in the market.
If until then a double-turn indexed
head offered a maximum of 129,600
positions in space, the UAD (Universal
Automatic Differential) head could
achieve 162 million positions, which
generated unprecedented flexibility in
the use of this technology and allowed
parts to be manufactured, with
implausible angles between faces.
2000. First highspeed
Top Gantry milling machine
(Panther). Nicolás Correa develops
the first high-speed Gantry milling
machine. It consists of a machine
that cuts the material using the
modern strategies of high speed.
With this machining technology,
Nicolás Correa penetrates the
aeronautical market for the
production of aluminium parts, as
well as the automotive sector to
finish leather stuffing for vehicle
body stamping.
2001. First family of
high-speed bridge milling machines
(RAPID). The company develops the
first high-speed mobile table milling
machine. Its design, similar to that
of a high-speed train, represents a
great aesthetic change with respect
to the traditional FP bridge milling
machine.
2003. First family of
mobile column milling machines with
“box in box” technology.
Nicolás Correa develops the Supra
model, the first large mobile column
machine that incorporates the
innovative “box in box” structure.
Until then, this structure had only
been used by a top-level Italian
manufacturer. The firm is positioned
at the top of this segment of
machines.
#47

Technological Evolution
2004. Second
family of mobile column
milling machines with “box in
box” technology.
The AXIA model arrives, the
second traveling column
machine with “box in box”
technology developed by the
Group. This milling machine,
which attacked the top segment of this
type of machine for medium-large parts,
will become one of the great successes of
Nicolás Correa in its history, with 146 units
sold in more than 21 different countries.
2005. First
family of bed type milling
machines with “box in
box” technology. The Brava
model, the first fixed bed
machine with “box in box” technology
developed by the Group, was positioned
at the top of technology in this type of
machine.
2005. First
automatic pallet change
system. Nicolás Correa
develops an automatic pallet
change system for the family
of bridge machines based on
the “double table” concept.
This solution allows the bridge machine to
work with two separate pallets or to join
them to work larger pieces.
2008. 2nd generation
head change system. A new head
system incorporates all systems
into each head, greatly improving
reliability and increasing system
flexibility. All heads manufactured
in Correa can now be automatically
exchanged for this system.
2008. 2nd
generation automatic tool
change system.
GNC Hypatia develops
automatic tool change systems
within the Group. Correa thus
continues to increase its degree
of vertical integration.
2008.Second family of
VERXA high-speed bridge machines.
The VERXA family replaces the RAPID
family and makes it possible to build
the large bridge machine platform of
the future. At that moment, Nicolás
Correa’s engineering began working
to create a modular system that
would allow large sets of parts to
be shared between different families
of machines. The VERXA M (Gantry)
family and the ORIX (Top Gantry)
family will later be born from this
modular system, which would replace
the Panther model.
2006. Development
of the new Correa
PLC for Heidenhain 530.The
company incorporates into the
new PLC for the CNC Heidenhain
530 the first functions of
self-diagnosis, remote teleservice,
help masks, new machining assistance
cycles, new functionalities and a huge
increase in the reliability and maintainability
of the machines.
2009. New family of
NORMA fixed bed machines. GNC
Hypatia launches the new family
of fixed bed, NORMA, onto the
market, using all the experience
in the manufacture of this type of
machine, which it had already been
manufacturing with CNC since 1987
with the A-30 model. The NORMA
will become the key product for
the industrial subsidiary, with 115
machines sold all over the world.
#48

2012. Third
family of MAGNA “box
in box” mobile column
milling machines.
Nicolás Correa puts the
third family of MAGNA “box
in box” milling machines
on the market. The MAGNA
will aim to replace the
SUPRA and will become the largest
mobile column machine manufactured
by Nicolás Correa in its history. The
strong demand from the wind sector
in China meant that Nicolás Correa
had to modify the height of the
assembly hall in order to manufacture
the first MAGNA, with an 8-meter
vertical course.
2013. Family
of “floor type” machines
with lateral ram.
A new family of moving
column machines with
lateral ram is born, FENIX,
for work cubes smaller
than the AXIA. The design is based
on the Norma machine concept to
achieve a very well positioned product
in markets demanding this type of
machine, such as Italy or Germany.
Since 2013, 44 FENIX units have been
sold worldwide.
2014. Family
of lateral ram mobile
column machines.
Nicolás Correa and
Hypatia develop a new
family of moving column
machines with lateral
ram, NORMA L, for work
cubes smaller than the FENIX. Based
on the NORMA machine concept, the
X axis moves its guide on the block
table itself. This machine will become
the first mobile column model
manufactured at Hypatia.
2014. FOX
family of new generation
bridge milling machines.
Nicolás Correa launches
the FOX family on
the market. In it he
concentrates all the
knowledge and experience
in the manufacture of
bridge machines of the last 20 years.
The FOX incorporates unique systems
to control the temperature on the
vertical axis and represents the
essence of Correa values: robustness,
precision and head technology.
2016.
First multifunction
milling machine for
turning milling. Nicolás
Correa develops the first
multitask milling-turning
machine thanks to a key
contract with the French
multinational EDF, through which the
company sells three HVM and AXIA
model multifunction milling machines
(two units) in as many production
plants in France. Since 2016, Nicolás
Correa has become a benchmark in
the manufacture of multifunction
machines for large parts, having sold
more than ten units in the last six
years.
2017.
Redesign of the
industrial image of
Correa machines. The
Group begins to update
the industrial image of
the machines that will
improve functional and
ergonomic aspects. The
new image seeks to reinforce the
attributes of the Correa brand and
position it at the top of its segment in
terms of technology and quality.
#49

Technological Evolution
2017.New family of
NORMA MG fixed bed machines with
integrated turntable.
GNC Hypatia launches
a new family on the
market based on the
NORMA model, but with
a turntable integrated in
the X axis. The flexibility
of having a machine
capable of working in 4+2 axes allows
for better positioning in many sectors.
2019.
Development of the new PLC
and HMI Correa for Siemens
840D Solution Line.
The Group develops the new
PLC together with the new
Human Machine Interface for
the Siemens 840D Solution
Line CNC. For the first time, a single
HMI is used for both Heidenhain and
Siemens CNCs.
2018.
Third family of XPIDER
high-speed Top Gantry
machines. A new family
of high-speed Top
Gantry machines for
work cubes somewhat
smaller than the ORIX
has arrived on the market. It is the
fastest machine manufactured by
Nicolás Correa to date, with maximum
advances of up to 60m/min.
2018.
Development of the
new PLC and HMI
Correa for Heidenhain
640. Nicolás Correa
develops the new
PLC together with the
new Human Machine
Interface. This new
PLC incorporates a multitude of
self-diagnostic tools, as well as new
functions developed to improve and
optimise the use of the machine by
the operators. Dynamic graphs that
represent machine functions in real
time are introduced.
2019. Differential
“Xtreme” (UDX) indexing
head. Global Patent.
The company applies a unique
technology in the market
to the UDX head. It is the
first time that someone has
manufactured a mechanical
transmission head capable of
rotating at 10,000 rpm. This
head, which can be offered on
the entire range of Correa machines,
offers unique characteristics and
improves its positioning in markets
such as Germany and in sectors like
the automobile industry.
2021. BM-180
interchangeable boring bar. Global
Patent. Nicolás Correa
develops the first completely
interchangeable boring
bar. This technology makes
it possible to offer a new
concept of milling-boring
machine without the classic
limitations that have always
affected this type of machine.
Now the heads rotate
independently of the bar, and
in the machine two systems
coexist in perfect harmony.
#50