TTT Ejes is a firm created in 1996, specialising in shock absorber shaft production.
Sociedad Gestión de Capital Riesgo del País Vasco (SGECR) has become involved in the extension of the company TTT Ejes, with a 625,000 euro investment from the Ezten fund. The company’s worker-members have also contributed with an equal amount to that provided by Capital Riesgo, which belongs to the SPRI (Public Company for Industrial Restructuring) and forms part of the Basque Government Department of Industry, Innovation, Trade and Tourism. The measure forms part of the + Euskadi2009 Plan embarked on by the Basque Government.
TTT Ejes, which was created in 1996 and has a staff of 73, specialises in the manufacture to drawing of shock absorber shafts, supplying the totally finished shafts for assembly on highly-specialised automotive components.
The Legazpi-based company is currently working on a major project involving setting up a partnership with the Dutch company Koni.
This strategy is the consolidation of TTT Ejes’ project, as it will now have a larger volume of business due to demand from Koni itself, together with access to new markets such as the rail sector and new customers.
Gestión de Capital Riesgo del País Vasco closed the 2008 financial year with approvals of investment in 27 different projects for a value of 18.5 million euros. It has also disinvested in 9 projects for an amount of 16.3 million euros, obtaining capital gains of 8.9 million euros.
The company administers 86 million euros through four funds and a Venture Capital Entity, undertaking venture capital and expansion capital projects.
Bilbao, 24 February 2010.
