Spanish wire rope manufacturer Tycsa is building a new factory in Barcelona, to open next year, following the successful inauguration of its new factory in Santander.
The company made profits of E6.3m in 1999 and has increased its turnover by 12% over the past three years in spite of cutting its workforce from 750 to 480. This has been made possible by a competitiveness drive that saw it invest E30m.
Cash flow for 1999 was E13m, which was used to decrease debt and to invest in the plant and machinery, including a new strander and a complete new extrusion line for ropes up to 100mm in diameter.
The year also saw new operations in Germany and the USA open up, bringing its worldwide network to 10 service centres.
Tycsa produces high performance ropes for cranes, trawlers, elevators, mining equipment and aerial ropeways.
