gamesa's history project

Amèlia Aromir

Laura Català

Jaume Martí

Álvaro de Veciana

IBE (UPF)International Business

and Economic History

miércoles, 27 de febrero de 13

‣ Cutting-edge firm in technology

‣ Based on aeronautics

‣ Example of internationalization (increasing growth)

‣ Second largest manufacturer of wind turbines


Main achievements

Time Before the wind power business 1994

Entrance to the wind power national

industry2001

Wind power business consolidation. International Expansion.

2005 Global Firm

Key businesses

✓Aeronautics (and others)

✓Aeronautics

✓Wind power

✓Aeronautics

✓Wind power

✓ Solar

✓Wind power

Innovation

✓Knowledge accumulation and innovative know how

✓Wind knowledge purchase

✓Know how and knowledge tranfer aeronautics ⤑ wind

✓Development of Gamesa’s own wind technology

✓Know how and knowledge tranfer aeronautics ⤑ wind

✓Technological clusters

✓Reinforcement of the firm’s own wind technology

✓Technological clusters

Geographic wind commercialization Spain

✓ Spain✓ Europe✓USA✓Others...

✓ Spain✓ Europe✓USA✓China✓Others...

Geographic wind production Spain Spain

SpainUSAChina

Adquisitions and disinvestments Made acquisition

Disinvestment in Aeronautics and Services

ProductionPromotionServices

ProductionPromotionServices

ProductionPromotion

Vestas technological transfer agreement

End of Vestas agreement

Reestructuration


Laura Català

1973 1997

Historical Context


Laura Català

1973 1997

1973 Oil Crisis

1975 End of Franquism regime

1992 First UN summit on climate change

1997 Kyoto summit to reduce GHG

Historical Context


Laura Català

1973 1997

1976 Grupo Auxiliar Metalúrgico, SA (GAMESA)

1975/... Good moment for the Spanish industry

1993 Join the Hegan cluster

Innovative activity and technology transverse condition

Gamesa’s history


Jaume Martí

1994 2005

1994

agreement

technology &brand

access to the spanish market


Jaume Martí

1994 2005

WIND POWER AERONAUTICS

Gamesa Eólica

Gamesa Promociones

Gamesa Servicios


Jaume Martí

Design

Manufacturing

AssemblyProd

uctio

n

Logistics

Installation

Maintenance

Management

Site Prospection & Permits

Wind measurements

Design / Civil Engineering

Developm

ent

Gamesa Eólica

Gamesa Promociones

Gamesa Servicios

1994 2005

Forw

ard

Ver

tical

Inte

grat

ion


Jaume Martí

1994 2005

Gamesa’s profit distribution

2000


Jaume Martí

1994 2005

Gamesa Eólica45%

Gamesa Promociones12%

Gamesa Servicios12% Aeronautics

31%

Gamesa’s profit distribution

2000


2001 End of Vestas agreement

2002 Gamesa Eólica begins a R&D program

Jaume Martí

1994 2005


Jaume Martí

1994 2005

Process of acquisitions


Jaume Martí

1994 2005

Process of acquisitions

Made, from Endesa


Jaume Martí

1994 2005

1%2002

Gamesa’s foreign sales


27Jaume Martí

1994 2005

1%

%

2002

2004



Italy8%

Portugal6%

China4%

Germany2%Japan

2%Others

5%

Spain73%

Jaume Martí

1994 2005


Others1%

Spain99%

2002 2004


Álvaro de Veciana

2005

Restructuration

2005‣ Aeronautic Crisis and Endebted

‣ Restructuration Plan

2006 Sale

Since then...‣ Internationalization

‣ World Crisis

Gamesa Aeronáutica

Gamesa Servicios

FOCUS

NO SENSE ⤑ end of VI


Álvaro de Veciana

2005

Economic Incentives & Legal Framework

Spain

BOEs

2005 record on €/MWh

CRISIS ⤑ Rajoy’s measures

Europe

US 30% deductions (PCTs)

China Environmental problems + State promotion

LEADER


‣ Its diversification helped the firm to become the world’s 2nd

energy company

‣ Stronger innovation ⤑ know how to make their own technology

‣ New strategic plans to maintain their global position


Technology

RenewableEnergies

Energetic Solutions

Industrial applications for the R&D of new energy sources for commuting (transport)

Technological push to capture the economic potential of the wind

power market.

Market/Technological Know how development of the wind power.

Exploitation of the renewable sources for energy solutions

Gamesa’s long term strategy


Thanks for your attention


gamesa's history project

Documents