Fagor Group’s economic contribution in 2011 (in its commitment to social solidarity)

The Fagor group is characterized by its commitment to solidarity and social responsibility to the environment by creating employment and business activity as well as

having its cooperatives invest in social projects. These investments are channeled through the fund called Contribution for Education and Cooperative Promotion and other purposes of public interest (COFIP), which in 2011 reached a total amount of €1,050,020 for the Fagor Group, €66,020 of which were from Fagor Automation.Destination of those contributions:

Educational promotion finances the activities of social education centers, besides the donation to the Gizabidea foundation created to promote research and training in the cooperatives area.

Regarding the social and cooperative promotion deserves a special mention the contribution to the standardization of the Basque language to be used as a work language in the Fagor Group. Finally, through communitarian distribution they are addressing both the commitment to various requests from entities located in the geographical environment of our cooperatives, such as the Mundukide Foundation.

The work of that foundation is focused on helping the most deprived people on this planet through inter-cooperation programs. Overall, 2011 was a positive year in the development of various projects, especially programs of Marrupa, Montepuez and Majume in Mozambique, Panama program with MST in Brazil and the Holguin program with MINAZ in Cuba.