2018ANNUAL REPORT

Moving Together“Life Power” | Sameera Bashar | ArtPhoto IV

“Contrasts” | Alessia Piscopo | ArtPhoto IV

“ The entire organization is focused

around and prepared to develop,

together with our customers, the

innovative solutions that the electricity

sector needs ”

Our sector, the electricity sector, is undergoing a period of development and transformation. Economic growth and the demand for energy, electrification of the economy, the decisive drive towards renewable generation and digitalization are transforming the electrical grid.

We are experiencing an era of both challenges and opportunities for everyone in the sector and, at Arteche, we are preparing to take advantage of them both.

2018 has been a year of consolidation in which we have laid the foundations for future growth. We have completed work implemented in recent years by refocusing our activity: we have identified the businesses in which we want to be present and desinvest ourselves of those areas that we don’t consider essential to our future.

This has made us stronger. We’re taking on the challenges and opportunities offered by the evolution of the electricity grid with a solid portfolio of products and solutions focused on electrical substations, connection of renewable energy to the grid, the improvement of supply quality, and the development of the smart grid.

From an economic point of view, 2018 has been a good year. We grew 9 % in revenue, 17 % in profitability (EBITDA), and reduced debt by 25 %. In addition, with the reorganized portfolio of products and solutions, all businesses are growing and are profitable.

On this basis, we have presented our strategic plan that defines where we are headed in the coming years.

In a context of growth within the sector, we aspire to grow organically at a rate of more than 6 % year-on-year, an improvement in profitability of 3 points over sales and a cash generation equivalent to 80 % of the generated outcome.

An ambitious plan based on strengthening our ever-growing presence in the world with new offices and commercial partners. It represents a firm commitment to the excellence of our processes and the improvement of efficiency in our factories, reflected in a significant investment in technological innovation and digitalization. This endeavor towards innovation will focus on three main action lines:

• Providing a very important boost to digital products and solutions.

• Raising the performance of our transformers, relays, and reclosers by enhancing quality, safety, and sustainability.

• Developing a value proposition with value-added services based on our technologies and knowledge.

To achieve this, we have a new simplified organization that is more agile, more diverse, and backed with new capabilities and talent.

Throughout Arteche’s more than 70 years of history, we have distinguished ourselves by our closeness to our customers, our flexibility in meeting their needs with technology and service, and by always responding to difficulties.

This characteristic, which has made us stand out from the very beginning and is summarized in our brand philosophy, Moving Together, takes on greater importance nowadays during this time of transformation.

In 2019, we initiated a new plan which, with the support of our partners, the trust of our clients, and the commitment of a great team of professionals, will allow us to meet our goal of Creating Value for our shareholders and Creating Opportunities for development and growth for all people who are part of the Arteche project.

Moving Together

Alexander ArtetxeChief Executive Officer of the Arteche Group

Any industrial company with the intent of permanence has to keep its promises. Doing business only once is relatively simple, while what really requires effort is repeating and maintaining stability in operations. On a daily basis, we have to keep our word in countless situations with our clients, suppliers, and employees. There are multiple interactions that require rigor, methodology, and commitment. At the end of the journey, if we do our work well, that “intangible” asset is revalued and drives us forward. On the contrary, if we fail, our credibility suffers.

The 2018 results indicate that we are on a positive path, so it is a logical next step to congratulate ourselves for keeping our word in the vast majority of cases. However, there are still opportunities for

Luis M. PérezGeneral Manager of the Arteche Group

improvement and the Arteche Group is committed to launching strategic projects in this regard in 2019: from being even stricter in meeting delivery deadlines for our clients to improving interaction with our suppliers or progressing in our employee leadership model.

In addition, all the actions we undertake within the Arteche Group are based on our Corporate Values, which can be summarized as closeness and commitment to our Clients, ambition and the assumption of new challenges through Innovation, continuous improvement and overcoming in the search for Excellence, all which is achieved through the professionalism of the People who make up the organization. In short, we must achieve our strategic objectives, but not in just any manner, and our Corporate Values are there to help us along the way.

These guidelines explain how, after almost 75 years of adding value to the transmission and distribution sector, we continue to be the preferred option for our clients and a focus of attraction for talent in the environments in which we develop our activity.

The importance of fulfilling

promises

“San Mames” | Felix Urrutia | ArtPhoto IV (Winning photo in the “Life and electricity” section)

“ Being the electricity sector’s

preferred choice requires doing things

right and demonstrating it with every

action we undertake ”

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18CONTENTS

0

6

1 2 3 4Introduction 8

Overview 10

Milestones 12

Arteche solutions 20

Introduction 22

Intense effort in innovation 24

Milestones 26

Introduction 32

Overview 34

Milestones 35

Approvals 40

Introduction 46

Overview 48

Featured news 50

Milestones 54

Arteche in the world 56

Some collaborations 58

EXCELLENCE PEOPLEINNOVATIONCLIENTS

“ The close relationship and commitment to our clients allows

us to be at the forefront of the transformation of the sector ”

1 CLIENTS

In 2018, we grew 8 % in orders received. We have achieved this thanks to the diversification of our offer and our enhanced geographical presence, bringing more value and closeness to our customers.

We actively participate in the transformation that the electricity sector is undergoing. Our products and solutions are part of the annual interconnection of more than 18 GW of renewable energy worldwide.

The development and incorporation of new products and solutions to our offer has allowed us not only to be experts in the world of measurement, but also to provide solutions for: the railway sector; the smart grid; the development of renewable energy and improvement of power quality, thereby achieving double-digit growth in those products associated with these segments.

Geographically, we have strengthened our commercial position in the Americas and in the EMEA area. In addition, we have been able to lay a solid foundation for growth in the Asia-Pacific region.

All this has allowed us to broaden our base of new clients, who have contributed more than 14 % of total order intake.

In 2019, we will continue to expand our network of sales and business partners to enhance our delivery of value and to improve the procurement experience.

Manuel FernándezSales & Marketing Senior Vice President

We grow above the sector average thanks to our

closeness with our clients

Overview

- ORDER INTAKE

Arteche Group Total Order Intake

Renewables Interconnection 2018

Order Intake Heat Map

Clients

Equipment installed in more

than

150countries

+ ORDER INTAKE

90 %of Utilities trust

Arteche (Including the 10 largestin the world)

Europe Middle East

Africa

41 % 29 % 18 % 12 %

256 M€

North America South America Asia/Pacific

Growth

+8 %

double-digitgrowth in new

products

Smart Grids Products

x2.5

18.1 GW Interconnected

Renewables 2018

10.5 %World

+500 new clients in 2018

14.8 %of order intake

3.7 GW Interconnected

Renewables according to

Network Code2018

North America25 %Region

North America

30 %

5 GW 2.5 GW6.8 GW 4.3 GW

Europe Middle East

Africa23 %Region

Europe

Middle East Africa

31.5 %

South America23 %Region

South America

28.3 %Asia/Pacific

4 %Region

Asia/Pacific

10.2 %

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CLIENTS

Arteche will supply seven 420 kV gas-insulated power voltage transformers with 100 kVAs of power to Eskom, the electricity company that generates 95 % of South Africa’s energy and approximately 45 % of the electricity used in Africa.

These transformers, manufactured at the Arteche Gas Insulated Transformers’ facilities, are an addition to the range of products we already supply to Eskom, including current and capacitive voltage transformers of up to 400 kV.

This is the first time the South African company has relied on our power voltage transformers, which provide a low voltage power supply directly from a high voltage line. This equipment will be used in various renewable energy projects in South Africa, one of the company’s growth centers.

In addition to the supply of the power voltage transformers, the contract includes various services such as installation supervision, technical training, and gas filling of transformers

Eskom installs our power voltage transformers

Supply includes services such as installation supervision, technical training, and gas filling

Milestones

Arteche’s high-performance relays for critical applications are part of the electrical control system for the fluid system at the ELA4 space launch base, the new launch platform that the European Space Agency (ESA) is building in French Guiana for its new rocket, Ariane 6.

This system, developed by GTD, is responsible for supplying Ariane 6, ESA’s latest space shuttle, with the fuel and all the conventional and cryogenic fluids needed during the take-off preparation phases.

GTD, the company responsible for developing the electrical interface system with the control bank installed in the operating control room in the Guyana Space Center, has relied on the Arteche relays for its high performance, excellent performance in high vibration environments, and its high reliability, as it can be installed in installations up to SIL 4 in accordance with EN 61508 while maintaining reliability and safety of operations.

GTD will install BF-3 BB latching relays, which will manage the controllers that cut off or put into service the electrical power supplies of these critical processes, and the RF-4 master trip relays, which will switch the control of certain valves between different control organs of the Central Control Bank.

The system will ensure the control of approximately 10,000 pieces of information from the launcher’s fluid processes, necessary for carrying out preparation and launch operations during the phases in which Ariane 6 will be in the integration zones and on the launch pad in the time prior to take-off.

Our relays are installed at the new launch base for the Ariane 6 rocket

The relays are part of the control system for the system in charge of supplying the new Ariane 6 space rocket with the conventional and non-conventional fluids required for take-off

Control room and an ESA launch pad in Guyana

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The Boulenouar wind farm consists of 39 wind turbines, and is Arteche’s firstsubstation automation business project in Africa

The world’s most ambitious solar projects are being developed in Dubai, such as the Mohammed Bin Rashid plant developed by DEWA and Masdar

We automate the substation of a 10 MW wind farm in Mauritania

Our capacitor banks help improve the Power Quality of a 1 GW photovoltaic plant in Dubai

The company Elecnor relies on Arteche for Substation Automation of the Boulenouar wind farm in Mauritania, a wind farm equipped to generate 100 MW with 39 wind turbines.

It is the first project for Arteche’s Substation Automation business in Africa.

The scope of the project for Arteche will consist of the supply of transformer protection panels, protection panels for the 23 kV cell, and a panel with the substation SCADA where the HMI, SCU, GPS, etc. will be housed.

In addition to supplying the panels, the project includes basic and detailed engineering, protection selectivity study, programming and integration of the automation system, everything under the IEC 61850 standard.

Arteche designs and supplies the 33 kV and 6 MVAR Capacitor Banks for the 132 / 33 kV substation located in the Dubai Deserts, with the goal of improving Power Quality in the ambitious 1 GW Mohammed Bin Rashid Al Maktoum photovoltaic plant project.

This solar project is being developed for DEWA (Dubai Electricity and Water Authority) and Masdar (Abu Dhabi’s Renewable Company).

The new plant will have a surface area of approximately 17.8 km2 and will have more than 3 million photovoltaic panels capable of moving to face the sun. Once completed, this plant will prevent emission into the atmosphere of approximately 1.4 million tons of CO2 per year

Taiba wind farm is the first major wind project in Senegal and the largest in West Africa

We design, manufacture, and supply Power Quality solutions for a 159 MW wind farm

Arteche designs, manufactures, and supplies reactive power compensation equipment for the Taiba Wind Energy project, a Vestas project being built by Eiffage Energy in Senegal.

The park is the largest in West Africa and the first of its size in Senegal. It will increase the country’s generation capacity by 15 %, diversifying its energy mix and generating enough electricity for over 2 million people.

Arteche will supply automatic capacitor banks 9 MVAr 33 kV 3 phase 50 Hz, and two 10 MVAr, in IP54 metal enclosure, as well as Air Core Shunt reactors 4 MVAr 33 kV 3 phase 50 Hz.

These batteries, in addition to their primary function within the wind farm’s reactive compensation system, include a system that reduces voltage and current transients during energization, thus preventing stress to the critical components of the park.

Arteche will supply Power Quality equipment and services to Acciona over the next few years

Acciona relies on us for Power Quality

Acciona Energy will use Arteche’s Power Quality equipment in its projects around the world, including Spain, Mexico, USA, Chile and Australia. This trust is symbolic of our close relationship.

This is, in fact, Acciona’s first framework agreement in the field of Power Quality, and will enable us to offer, in addition to our own equipment, studies, engineering, and specialized services.

In particular, Arteche will provide Capacitor Banks and Harmonic Filters, equipment that contributes to improving the efficiency of energy systems: improving service quality, reducing system losses, contributing to system stability, and protecting the life cycle of electrical equipment.

In addition, the framework agreement also includes studies to verify network code compliance, which enables us to maintain optimal system performance.

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CLIENTS

“Optical transformer installation” | Aritz Sanchez | ArtPhoto I

15 ICTs and 5 Merging Units will be installed in Texas, USA, to oversee the 3 phases

Mitsubishi Electric Power Products Inc has chosen Arteche’s optical transformers for its first FSC (Series Compensation Systems) project.

FSCs are capacitor banks installed in series on long transmission lines, usually over 200 km, to compensate for the reactance of the line.

For series connection to the line, all equipment must be installed on a platform with an insulation level suitable for the line voltage. For each phase, a platform is connected in series, which usually contains two capacitor banks in parallel as well as a varistor and a bypass switch. For proper system protection, the current in each of these elements in each phase must be measured.

Although FSCs have been used in this type of application for several years, optical current measurement offers some advantages that are of particular interest to these environments as it is not necessary to power any electro-optical converter located on the high-voltage platform.

What’s more, the solution adopted involves digitizing this part of the substation by sending all current measurements as Sampled Values IEC 61850.

Mitsubishi Electric Power Products relies on our optical transformers for its first Series Compensation Systems project

ELIA manages an 8,600 km high voltage network

The Belgian electricity operator ELIA places its trust in our Instrument Transformers for the coming years

The agreement involves the supply of current, inductive voltage and capacitive voltage transformers from 82 to 420 kV. As such, for the first time, a complete framework agreement has been signed for the supply of this equipment over the next five years.

ELIA which manages an 8,600 km high-voltage network, will use the equipment for various projects. Highlights include ALEGrO –the first interconnection between Belgium and Germany, a 90 km long HVDC link– or Nemo, a 130 km submarine interconnection between Belgium and the United Kingdom, which will join existing interconnections with France, the Netherlands and Luxembourg.

This successful agreement endorses the Arteche Group’s commitment in the region, and consolidates our presence in a key country for European Electricity Interconnection.

This is Arteche’s first provision of this equipment to Brazil

Our test blocks will be installed in substations of up to 550 kV throughout Brazil

Arteche has sold more than 300 Test Blocks in Brazil, which will be supplied to CYMI, an ACS Group company. They are intended to be installed in ANEEL (National Electric Energy Agency) auction projects in substations of up to 500 kV in the Brazilian states of Bahía, Piaui, Río Grande do Norte, Ceará, Paraiba, Minas Gerais, and Goiás.

This first order of Test Blocks in Brazil is the result of prior good service and great results for the same client, which influenced the predisposition to designate Arteche as a reliable supplier.

One of the receiving substations for the Belgium-UK interconnection project. A project known as NEMO which constitutes one of ELIA’s most notable projects.

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CLIENTS

The 114 new trains for KORAIL, the South Korean railway operator, will include more than 10,000 Arteche railway relays

Arteche will participate in Talgo’s so-called “Contract of the Century,” thereby strengthening our position in the railway sector

Hyundai Rotem relies on our railway relays for its high-speed trains and driverless subway trains

Talgo relies on our railway relays for its high-speed train project for Renfe

Hyundai Rotem, Hyundai’s train manufacturing subsidiary, has signed a contract with KORAIL, the South Korean railway operator, to deliver 114 new high-speed trains, model EMU-250/260, which can reach speeds of up to 260 km/h.

The South Korean manufacturer has relied on Arteche’s high-performance on-board relays to meet all their relay needs in the electrical design of these high-speed models.

By 2020, when the last batch of these 114 trains is due to be delivered to KORAIL, more than 10,000 Arteche relays will have been installed in their train cars.

In addition, Hyundai Rotem has also turned to Arteche relays for critical safety functions on the driverless metro trains it is preparing for the Istanbul Metro in Turkey, which is scheduled to be delivered by 2021.

These two projects reinforce our commitment to the railway sector and the Asian market, where our presence has continued to grow in recent years

In December 2016, Talgo won a tender to supply 30 high-speed trains to RENFE and maintain them for 30 years, an agreement that was called the “contract of the century” worth 1,491 million euros.

Arteche will supply Talgo with more than 16,000 relays and their corresponding sockets. Around 15,000 instantaneous relays and around 1,000 time-lag relays, all designed to meet the industry’s strictest railway standards.

Arteche relays are individually tested, but, for this agreement, additional specific tests were carried out at the client’s request in an external French laboratory, which certified the conformity of our railway relay models with all the specific sector regulations.

200.000relays installed in the last

5 years

+60 %relays installed in 2018

+ 40countries

3new strategic

clients in 2018:Hyundai Rotem, CRRC and BHEL

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Arteche Solutions

HV & MV instrument transformers

• High voltage Instrument Transformers up to 800 kV

• Power Voltage Transformers

• Medium Voltage Instrument Transformers

• Combined transformers and metering units

Digital measurement

• Optical current transformers

• Stand Alone Merging Units

• Cable fault detection system to protect mixed HV lines based on passive optical transformer

Transforming electricity into value

Independent world leaders, with a complete range of up to 800 kV installed in more than 150 countries

When reliability and safety are critical

Our relays, primary equipment, and intelligent electronic devices are the right choice when reliability, safety, and performance are not an option

Instrument transformers

Regulation and control of electrical networks

Low Power Instrument Transformers and sensors

• Low power instrument transformers (LPIT) according to standard IEC 61869

• Combined low power instrument transformers and PLC/BPL couplers

Experience, knowledge, and commitment to a sustainable and efficient future

Since 1976, we’ve been responding to the challenges of protecting, measuring, and managing electrical networks. We’ve spent more than 25 years solving phenomena related to energy quality; today, we facilitate the integration of renewable energy into the grid.

Value-added services

Power Quality

• Power consultancy and engineering services

• Power factor correction

• Voltage regulation

• Network code compliance

• Capacitor banks and harmonic filters

Specialized and value-added services

• Power system studies and evaluations

• Stability studies

• Ferroresonance studies

• Short-circuit analysis

• Life cycle services

• Instrument transformer diagnostics

Turnkey solutions in Mexico and Brazil

• EPC services for substations

• Turnkey solutions for wind and photovoltaic farms

• Operation and maintenance

Power grid automation systems

• Substation automation systems

• Measuring and controlling IEDs for substation environments

• Distribution automation IEDs

• PV power plan control systems

Auxiliary relays and test blocks

• Auxiliary, tripping, and supervision relays for HV/ MV power systems and demanding substation environments

• Relays for railways industry according to EN 50155 and other demanding standards

• Test blocks

Medium Voltage Reclosers

• Three-phase recloser

• Vacuum interrupter

• Substation or pole mounted

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“ At Arteche we believe that innovating means not being

satisfied with what has been previously established

or achieved ”

2 INNOVATION

We understand that a commitment to innovation is one of the keys to satisfying our clients’ needs or, in other words, to responding to the challenges that the electricity sector faces today.

The growing incorporation of decentralized generation resources, most of which come from renewable energy sources, electric mobility, storage, etc., are transforming the electrical system and forcing Arteche to change alongside it. Responding to these challenges involves developing products equipped with intelligence, digital connectivity, and sensors that make it possible to make decisions either autonomously or by sending information to higher decision-making levels. On the other hand, all this potential (available data and information) is being used to develop solutions that facilitate the management of the life of the assets or increase the efficiency of the installed network that affects our clients so much.

Throughout 2018, we have made an intense effort in terms of innovation. We have dedicated more than 160,000 hours to innovation projects of which half have been focused on responding to these new challenges through our devices for smart grids or our optical measurement solutions.

The other half of our innovative effort has been dedicated to constantly evolving our products with the aim of bestowing them with new features, improving their reliability, and managing their life cycle.

Despite a team of 140 people, we do not face these challenges alone: we collaborate with universities and research centers and with our clients and suppliers so that we can count on the latest technologies and shorten the product launch to market cycles. This joint work facilitates learning among our people by means of all the experience that these travel companions bring to the transformation of the electricity sector.

We also understand that innovating is not just overcoming technological milestones, but also identifying the best practices that allow us to work increasingly better, while always seeking out IDEAS that will lead us towards solving the challenges that the future has in store.

Roberto Ortiz de ZáratePresident of the Innovation Department in Arteche. (IDEA)

We do not face the challenges of innovation alone, we do

so in collaboration with universities, research centers,

clients, and suppliers

Hours dedicated to projects

By product lines

By geographic area

Rail 3

New technologies 2

Smart Grid 13 Digital Measurement 7

Existing product improvement 9

Expansion of the range 66

AT 45MT 10Relay 7Recloser 2Sensors 2

+80 %of the intake in products

updated during the last 3 years

50 %of the resources dedicated

to innovation are allocated to products/services with a life

span of less than 10 year

Intense effort in innovation

100proyects in 2018

HVT 29 %MVT 11 %Relays / Test Blocks 8 %

Sensors 2 %IEDs 38 %Digital measurement 6 %Recloser 4 %

Processes 2 %

Traditional product 48 % Product innovation 50 %

Resources dedicatedto innovation

+3 %of order intake

140people

dedicated to innovation

160,000hours dedicated

to R+D+i

41 %Projects in

collaboration withthird parties

Increasing-range projects will

generate

33 M€

North America

26 %

Europe Middle East

Africa

55 %

South America

10 %

Asia Pacific

9 %

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Arteche leads the technical assistance to REE (Red Electrica de España) in the field of Instrument Transformers for its strategic asset management project MANINT

In the process of digital transformation that REE is carrying out, one of the main areas of action in Asset Management is the implementation of an integral and centralized system that allows the creation of a management methodology based on the condition, degradation and associated risk. to each asset,

We are the expert partnets for the REE’s MANINT project for asset management

Arteche’s submersible voltage transformers can be installed in locations subject to flooding or exposed to adverse environmental conditions

“Renewable Energy and Green Economy” | Dimple Pancholi | ArtPhoto IV

Presentation of one of the submersible voltage transformers at the IEEE PES T&D Conference 2018 in Denver, USA.

Our new submersible voltage transformers prevent damage in case of flooding

Arteche has presented the new range of submersible Medium Voltage transformers. They are designed to be used in flood-prone areas as they can be submerged to a depth of 19 feet (6 meters).

In its first year of sales, nearly 100 units have been sold in both Mexico and the United States.

The UENS (single-phase transformer) and VENS (two-phase transformer) are submersible voltage transformers to be installed in underground installations, on poles or together with other MV equipment, thus avoiding both service interruption and water damage. These transformers are maintenance-free and, due to their dielectric properties and mechanical strength, have a long mechanical and electrical life.

They are available in three nominal voltages: 15 kV, 25 kV and 34.5 kV.

• Primary voltage ratios are available from 20:1 to 300:1 and for use for 15 kV, 25 & 34.5 kV respectively, GY/Y systems.

• The voltage transformer has the ability to provide a secondary voltage with shunt (X1-X2-X3).

• Secondary connections are available with up to 26 feet (8 meters) of submersible cable length.

FMEA.Degradation curves

Optimal renovation point • Maintenance strategy

Algorithm configuration • Health index

• Risk / probability matrix

also sharing a global platform with other existing systems in its current management (ERP ...).

From the analysis of failure modes, their classification, causality and weighting according to criteria and identified variables, a process of calculating the health of the asset and its effective age is defined, the degradation curves are generated and the probability is evaluated. of asset failure, which allows defining the most appropriate maintenance strategies to eliminate existing risks. This way, behavior patterns can be identified and the guidelines for action can be optimized, guaranteeing the reliability of the electricity supply as well as the intrinsic safety of people and facilities.

Arteche will contribute with its knowledge and experience in instrument transformers, elaborating along with REE the models of condition and degradation of said assets. This will allow the optimization of current maintenance and renovation strategies for the transformers, as well as future simulations, helping to improve and guarantee the quality of the supply.

Milestones

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The BJ-10 10 contact latching auxiliary relay completes Arteche’s range of tripping and lockout relays for the energy sector

New 10 contact tripping and lockout relay

Arteche has presented its new 10 contact latching relay, BJ-10. Designed to act as a tripping and lockout relay in substations and critical electrical systems, it offers high speed and safety for the operation of circuit breakers and other power equipment. It also has a high breaking capacity and guaranteed performance over a long life cycle.

This new range of tripping and lockout relays complements the 8 and 16 contact range, thus offering more alternatives when it comes to selecting the right one. What’s more, it can also be configured according to client requirements.

Like the rest of the range, these latchings relays have no permanent consumption. What’s more, have high levels of electrical isolation between the input and output circuits and a high degree of protection (IP40).

Therefore, thanks to their careful design, constructive characteristics, and self-cleaning contacts, this equipment is designed to work in interrupted permanent service, even in high temperature environments, for the most demanding applications in the sector.

The BJ-10 successfully exceeds the most demanding regulatory and functional standards, delivering performance and reliability.

Designed, developed, and assembled by Arteche Brazil, it was installed at the Barbacena II 345/230/13.8 kV Substation of CEMIG, one of the main electricity concessionaires in Brazil

Arteche has recently installed more than 20,000 Low Power Passive Instrument Transformers in distribution network automation projects

We develop new sensors according to standards IEC 61869-10 and IEC 61869-11

This is a modular metal building that is 7 m. wide and more than 10 m. long, made up of Control, Protection, Measurement, and Communication cabinets interconnected among each other and with other auxiliary service panels, air conditioning, fire-fighting, and surveillance systems.

The purpose of these structures is to isolate and protect from environmental agents the electromechanical, electronic, and communications equipment that forms part of an Electrical Substation, thus guaranteeing its stability and integrity.

Designed and manufactured at Arteche’s new facilities in Araucária, Brazil, according to the rigorous standards of CEMIG, this system eliminates the need for substation construction and allows our customers to save on time and costs.

Over the last 10 years, Arteche has developed a line of voltage and current measurement solutions for secondary distribution automation applications, thereby providing the features demanded by the electricity market during this paradigm shift in the electricity business.

One of these developments includes current and voltage sensors, known in the new IEC 61869-10 and -11 standard as Low Power Passive Instrument Transformers.

Over the years, we have installed more than 20,000 sensors in distribution network automation projects, mainly within Iberdrola’s STAR project, in GIS or AIS transformation centers.

In the past year, following publication of the IEC standard standardizing this measuring equipment (LPIT), we have adapted our product to it and started to get approval for equipment in other companies such as EDP HC or Gas Natural Fenosa, in both cases for measuring solutions in air network interrupter equipment such as reclosers and OCRs. This equipment, in addition to providing better performance in fault detection algorithms which allows for a considerable reduction in reconfiguration times, offers information on power and load flows in the network, which makes it possible to optimize network operation.

In addition, the ease of adapting this measuring equipment to the characteristics of different IED manufacturers allows us to offer solutions of up to 36 kV to different international IED manufacturers such as ABB or Schneider.

We supply an Integral Control Booth in Brazil for Electrical Substations

The new UYP complements the range of power voltage transformers in the low power range

Arteche Argentina receives an innovation award for development of the new UYP

Arteche Argentina has received the Rubro Innovación award from the ‘Córdoba en el Mundo’ Program, an award given by the Córdoba Chamber of Foreign Trade, the Pro Córdoba Agency, and the Córdoba Ministry of Industry and Government.

The award in the area of Innovation is due to the development of the UYP Power Voltage Transformers, which allows us to offer a solution to a market segment that required a custom-made solution for certain needs.

The clients needed a range that fell somewhere between the available 10 KVA and our UTP or UGP range. The new development responds to these needs.

These transformers enable supply in 220 V, directly from the high voltage of 145 KV; from own services in solar, wind, or other plants, or also consumption centers in remote areas without the need to build rebate stations and medium voltage transmission lines.

Representation of the Arteche Argentina team when receiving the recognition.

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Arteche have presented a proposal consisting on a multifunctional solution for diagnosis, focusing on improving the grid maintenance

We present during Cigré our proposal for Instrument Transformers Monitoring Systems

Operational management of the electricity network is growing in complexity. Therefore, finding the appropriate maintenance strategies is increasingly more important. Monitoring assets remotely to obtain a diagnosis of their status is a solution that allows prolonging their life and minimizing the maintenance costs.

The Arteche monitoring proposal helps maximize the life of the transformers.

Analyze the condition of the internal isolations of transformers immersed in oil, remotely monitoring by means of non-invasive sensor coupling, identifying the assets on which it is necessary to act, proceeding with appropriate predictive and preventive action criteria and without discharges that compromise the operation of the electrical system.

The reliability of the diagnosis with remote monitoring allows estimating the useful life of the equipment and making effective decisions.

Arteche’s extensive experience allows us to provide comprehensive value-added services. These help optimize the productivity, performance, costs and security of any electrical infrastructure, maintaining the results over time.

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“Devine energy” | Piotr Skrzypiec | Concurso ArtPhoto IV

“ Our ambition to achieve excellence allows us to take part in the transformation of the

electricity sector ”

Excellence, as a manifestation of the search for continuous improvement and self-improvement, is one of the values we are proud of at Arteche.

It is one of the reasons why, for almost 75 years, we have, in most cases, been the preferred option for clients in the electricity sector. Because we learn from our mistakes and improve every day. Because we strive to keep moving forward.

This explains why our production has increased over the last five years and, in turn, our waste and consumption have been reduced: because we strive to do more and to do it better.

We solve the problems we encounter along the way and take the necessary measures to prevent them in the future. Our highly qualified team, dedicated to providing services around the world, and their way of dealing with problems, are what make all the difference.

We also pride ourselves on being proactive, listening to our clients to better understand their needs.

And we’re don’t stop there: we also care about how we do things. Which is why we have published our new Code of Ethical Behavior, because we not only have to do things right, but with integrity as well.

This effort is also translated into our organization, as we implement improvements to our management, adapting our organization and our processes in order to make our organization’s motto a reality: Moving Together.

3 EXCELLENCE

Pedro PérezExcellence Department Senior Vice President

Continuous improvement is a daily activity that allows us to

move forward together with our clients

The signed agreement with American Superconductor allows us to position our Power Quality solutions globally

Arteche has widespread experience in Power quality, with an extensive offer of equipment and services that ensure compliance with the network code in more than 30 countries, thus minimizing electrical losses and maintaining the equipment and electrical installations of our clients at their optimum performance without affecting their service life.

Arteche’s Power Quality solutions have been used in 2018 to interconnect a total of 3.7 GW according to the network code of different countries.

The agreement with AMSC will enable us to strengthen our position thanks to its solutions that complement our product range, thus being able to combine both the active and passive parts of our solutions and provide offerings in those countries with a more demanding Network Code, such as the United States.

AMSC (NASDAQ: AMSC) generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner energy. The company’s solutions boost gigawatts of renewable energy around the world and improve the performance and reliability of power grids in more than a dozen countries.

Founded in 1987, AMSC has its headquarters near Boston, Massachusetts, and operations throughout Asia, Australia, Europe and North America.

We strengthen our position in Power Quality thanks to our agreement with AMSC

“Devine energy” | Piotr Skrzypiec | ArtPhoto IV(winning photo from the “Infrastructure and electric equipment” section)

57objectives deployed

+ 4,000,000manufactured units

Over

300 peopleinvolved

25 %capacity increase

- 3 %electricity consumption

in 5 years

5.5 %hazardous waste in 5 years

New Advanced Management Model

Continuous improvement of our facilities

Continuous improvement of our processes

MilestonesOverview

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Within the framework of our management model, at Arteche we continue improving our processes by applying dynamics of continuous improvement with the technologies and applications that Industry 4.0 makes available to us

The most significant milestones related to Excellence in 2018 were:

• New advanced management model

We have been working on the Arteche Management Model, defining the basic principles that, as we understand it, should guide our new management model, including Improvement of our key processes and automation, which make it possible for us to improve our efficiency so we can compete at all levels.

• Productivity improvement in HV combined transformer cell > 20 %

In this sense, we have introduced robots for warehouse management, a system that makes it possible to optimize warehouse operations, increase the speed and reliability of goods handling and, in turn, improve productivity.

• Digitization of factories

Another Industry 4.0 concept that Arteche is implementing is digitization of factory management panels and the flow of information, from data acquisition, analysis of said information, and visualization of the management elements by means of visualization screens, tablets, etc.

• Implementation of the mini-company model

Application of the mini-company model to the functional Departments has allowed us to improve Department productivity and cohesion, reduce waste in inter-department relations, and increase the efficiency of the value chains and, therefore, that of our clients.

• Lead time reduction in SAS (substation automation) projects> 40 %

We’ve improved customer service by reducing lead times for substation automation solutions through the efficient transformation of internal processes.

The implementation of strategic reflection, a part of our advanced management, at all levels of the Group, has resulted in a total of 57 strategic objectives with diverse scopes –Group, Plant, Department– in which more than 300 people participate with the aim of improving and optimizing our internal management with enhanced efficiency.

Relying on our advanced management, we will continue promoting projects that allow us to be outstanding as a company and in our relationships with our stakeholders.

We prepare the future and optimize the present by advancing with Industry 4.0

“Subway” | Hamed Sadegh | ArtPhoto IV

Arteche’s Code of Ethical Behavior sets out the rules and principles that have governed the group since its foundation

At Arteche, we are always aware that the very best way to keep growing and developing our business is to do things right and to do them with integrity. The Group considers Ethics to be one of its hallmarks and considers it an essential element for the development and sustainability of its project. Arteche has its own Corporate Culture that is defined as the set of values shared among all its members.

Arteche has a code of ethical behavior that defines a set of fundamental principles and general guidelines for conduct aimed at guaranteeing the professional, ethical, and responsible behavior of all directors, managers, and employees, both in relation to the performance of their duties and in their relations with colleagues, managers, subordinates, clients, suppliers, and the market and society in general in which they operate.

Introducing our new Code of Ethical Behavior

Professionals should always act according to the legislation of each country and with respect for the ethical and social responsibility principles of their respective cultures, serving as a guide for their behavior in a global, complex, and changing environment.

In this manner, ethical conduct enables us to continue being the company that clients want to trust, that suppliers want to collaborate with, and where employees know they are protected and their opinion is taken into account.

Arteche’s Code of Ethical Behavior is made up of:

• 15 General Principles, with action guidelines, commitments to conduct, and responsible practices

1. Respect for legality

2. Fair employment practices: Equal opportunities and non-discrimination

3. Health & Safety

4. Environment

5. Sustainable development

6. Professional conduct with integrity. Conflict of interest

7. Use of company goods and services

8. Financial Control

9. Anti-corruption measures

10. Relationship with clients and suppliers

11. Protection of competition

12. Confidential information. Trade secrets

13. Information transparency

14. Relationship with authorities and officials

15. Protection of own and third party assets

• Code enforcement system

• Obligation to act: Ethical channel for queries and complaints

Likewise, Arteche expresses its commitment and connection with the human and labor rights recognized in national and international legislation and with the principles on which the United Nations Global Compact is based, the Norms of the Responsibilities of Transnational Corporations and Other Business Enterprises with Regard to Human Rights of the United Nations, the OECD Guidelines for Multinational Enterprises, the Tripartite Declaration of Principles concerning Multinational Enterprises and the Social Policy of the International Labor Organization, as well as any documents or texts that may replace or complement those referred to above.

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Arteche has developed an analysis system so that all its factories, all around the world, use the same criteria and can share information to learn from each other

Within the Group’s Excellence department, the Safety & Hygiene department has established a Mission to be an organization committed to the continuous improvement of safety, within a healthy working environment, not only for the people of Arteche but also for those who collaborate with us or use our products and services.

We aim to create healthy workplaces that are free from accidents, injury, and disease, and to eliminate risks from the initial decision-making moment. To this end, participation from everyone is essential, as is setting objectives and monitoring compliance.

At the beginning of the year, we visited each of the Group’s plants in order to diagnose the S&H situation, identify potential problems or difficulties, and detect good practices that can be transferred from one company to another. We have encountered S&H teams that are motivated, collaborative, risk-sensitive, and that positively value the opportunity to share knowledge, practices, and difficulties with the rest of the Group.

One of the department’s goals this year is to standardize and harmonize management throughout all the plants, creating common standards for the entire group that aren’t limited to simply complying with the legal requirements of each country, but actually improving them.

We standardize the management of safety and health throughout the world

Arteche Mexico’s new factory hosts the production of medium voltage equipment, Power Quality and Reclosers

Arteche has inaugurated its new factory in Mexico, coinciding with the 25th anniversary of its arrival in the country. The new plant, which consists of almost 10,000 m2, strengthens the group’s commitment to Mexico.

The factory required an investment of almost 45 million pesos (more than €2,000,000) and the effort of the entire Arteche team. Its inauguration represents an important increase in production capacity and incorporates important technological improvements in key processes, as well as the use of automated systems.

This new factory has the capacity to produce medium and low voltage instrument transformers, reclosers, low voltage capacitor banks and filters, capacitor banks, and harmonic filters for medium and high voltage with the highest quality and control standards.

This inauguration is part of a comprehensive project, given that its opening has freed up a lot of space in the plant where the High Voltage Instrument Transformers are designed and manufactured.

Inauguration of our new factory in Mexico

Yuriana Barreto, Director of the new plant, speaks before the authorities and directors during the inauguration. Behind her is Maricela Reyes, an employee who also gave a speech.

Perspective of the inside of the new factory.“Up” | Jan Mohammad | ArtPhoto IV

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Approvals

The Saudi electric company has approved high voltage current, inductive voltage, and capacitive voltage transformers

Arteche’s current transformers, inductive voltage transformers, and capacitive high voltage transformers have been approved by SEC/National Grid, the electricity company that operates electricity transmission and distribution networks in Saudi Arabia.

Arteche’s high voltage instrument transformers have thus been added to the Auxiliary Relays and instrument transformers of up to 132 kV, which had already been approved by the company over the course of 2017.

SEC / National Grid has approved our 420 kV Instrument transformers

SEC gas power plant.

The equipment has been tested in the Netherlands according to the IEC 61689-2 and IEC 61689-5 standards

The current transformers, inductive voltage transformers, and combined transformers have exceeded even the most demanding market standards

The 550 kV capacitive current and voltage transformers manufactured at ADYH, the Arteche plant in China, have obtained the certificate issued by KEMA laboratories, one of the most prestigious in the world.

This equipment has been tested according to the IEC 61689-2 and IEC 61689-5 standards at KEMA’s laboratories in Arnhem, the Netherlands.

Several models of Arteche high voltage instrument transformers have been approved by E.ON for Germany, one of the largest electricity companies in the world. This means the equipment has exceeded even the most demanding market standards.

The AC-123 current transformers and UTD-123 inductive voltage transformers have been approved by the German company, which accredits compliance with its quality and safety controls.

The KA-123 combined transformers have also been approved, which combine in a single unit the capacities of a current transformer and an inductive voltage transformer.

The 550 kV capacitive current and voltage transformers from ADYH receive the certificate issued by KEMA

E.ON Germany approves our instrument transformers

Inductive current and voltage transformers at a Portugal substation

“TYs en formación” | Andoni Gallastegi | ArtPhoto I

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The U.S. Department of Agriculture relies on Arteche’s current, voltage, combined, and metering units transformers

This designation is the highest that the German multinational grants to its suppliers

Arteche’s instrument transformers have been certified by the RUS secretary of agriculture, the agency charged with improving quality of life and expanding economic opportunities in rural areas of the United States.

The USDA RUS has assessed both the technical and safety aspects of Arteche’s voltage, current, and combined instrument transformers up to 69 kV, and has approved them for both internal and external use.

These results endorse the concept of being close to our clients as one of the strengths on which Arteche Group success is based.

USDA RUS approves our instrument transformers

Siemens designates us as a ‘Preferred Supplier’ for the sixth consecutive year

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Laboratory activities increased by 50 % in 2018 compared to the previous year

The Ultra High Voltage Laboratory has tripled its activity as an accredited laboratory in the last five years

The Ultra High Voltage laboratory, located at the headquarters of the Arteche Group, can test equipment up to 1,200 kV. It is a piece of equipment designed for the future of the electricity sector, capable of handling voltage levels higher than any used today.

Arteche’s Ultra High Voltage Laboratory, the largest of its kind in Spain, is a part of BELA’s offer, an alliance between Arteche, Ormazabal, and Tecnalia aimed at marketing product development test services and certification of electrical equipment for transport and distribution networks.

The Arteche Laboratory is an accredited laboratory with official recognition for developing third party tests. In this sense, laboratory activity has tripled over the past five years, with the increase close to 50 % in comparison to the previous year.

The Dutch organization IIS, the Institute for Interlaboratory Studies, organizes proficiency tests between different laboratories at a global level

Arteche’s Chemical Physical Laboratory at its headquarters in Mungia has received a Certificate of Excellence from the independent Dutch organization ISS, the Institute for Interlaboratory Studies.

The Dutch organization organizes global proficiency comparison tests between different laboratories, in this specific case for the analysis of transformer oil.

In this study, the IIS sent an oil sample of unknown origin to the 57 participating laboratories in 27 countries, which analyzed the acidity, color, dielectric rigidity, density, 90ºC delta tangent, resistivity, interfacial tension, and moisture content.

All the laboratories sent their results for these parameters of the tested sample, according to specific international standards, to the Institute, which then carried out a statistical analysis of the results (their repeatability, reproducibility, z-score...).

The results sent by the Arteche Laboratory presented very good forecast values in all the measured parameters, thus obtaining the certificate of origin.

Our Physical Chemistry Laboratory has an independent Certificate Excellence

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“Dine Out” | Sudipto Das | ArtPhoto IV

The organizational changes decided on at the end of 2017 were consolidated in 2018.

This organizational change forced the entire staff to adapt to new ways of operating, making decisions, and executing tasks. On top of the goal of adapting to the new model, we have had to overcome other important group challenges, such as the repositioning of the business in Brazil and the company merger in Mexico.

It is not easy to shift from an organization with few business units to an organization with numerous functional departments that emanate guidelines and procedures for everyone. In an effort to harmonize the new ways of doing things within the company, we have worked with all the departments on the goal of the operating model. Therefore, with a different yet consistent degree of progress, we have designed the mission and vision for each department, the process maps, the supplier client relationships, numerous work procedures, etc.

In any case, we have continued to remain committed to ensuring our organization is an attractive place to work where knowledge can be acquired and shared in order to develop professionally within a context of innovation where the levels of demand are never at odds with the creation of spaces for balancing personal and professional lives.

With that in mind, we are bolstering the search and acquisition of talent that brings us diversity in all senses, with international aptitude and outlook, while at the same time staying connected to the communities where we operate.

This entire effort is helping us achieve our main goal, a goal that we all share and that extends beyond our clients and is based on the society in which we operate: moving forward together.

“ We comprise more than 1,600 people from different cultures and

backgrounds with the sameobjective: to keep moving forward ”

4 PEOPLE

Inazio IribarHuman Resources Senior Vice President

A year of change in order to remain a company where

knowledge can be acquired and shared

Percentage of people by region

People by professional category

+1,600people

Hours of training:

30,200

Women on staff:

23 %

Temporary people:

- 20 %

In the last 10 years, almost

40 %of qualified personnel recruited

have been women.

North America

Graduates and Management

Technicians and Administration

Specialists and Managers

Europe Middle East

Africa

40 %

53 %

18 % 29 % 33 % % Women15 %

34 %

23 %

14 %

17 %

12 %

7 %

Operators

South America Asia/Pacific

Overview

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Committed to Health and Safety

At the end of 2017, AEDC’s medium voltage switchgear business was transferred to Lucy Electric.

At that time, the plant was moved from Arteche to Araucaria. This plant foresaw an assembly activity and, therefore, had to be refurbished, workspaces had to be redesigned, emergency plans redesigned, services negotiated, etc., all of this with the inconvenience many people experienced of traveling to Araucaria with more limited public transport than in Curitiba.

Contrary to our forecasts for 2018, we have seen an increase in our activity, with the plant kept more and more busy. This trend seems to be consolidating in 2019 and thus demands that we redefine work spaces and other actions, thereby also coinciding with the relocation of STK to Curitiba once again.

For its part, Arteche North America has been one of our main focuses, deriving from the company merger. In the initial months, we clarified the Inelap team situation, negotiating a Collective Bargaining Agreement and reaching disassociation agreements with those who were not going to move to Tepeji, thus facilitating the transition for the people who finally did move there.

Once the merger was completed, we found four physical locations and the corresponding difficulty of dealing with all of them considering the limited staff we had in many functional departments.

We manage our changes in Brazil and Mexico

Continuing education and training is very important in a knowledge-based company. We try to always maintain a level of rigor with regards to this topic, which allows us to continue competing at the forefront of our sector.

Specifically, this year we have devoted a great deal of time to orientation and welcome trainings wherein we have dealt with issues relating to the Group itself, corporate values, the products we manufacture, internal regulations, etc.

We have also dedicated a great deal of effort to training topics of general management in the company such as internal audits, material flow designs, logistics, issuing of payment orders and cancellations, use of computer systems, closing tasks and general concepts of external services and consumption, recycling in tax matters, knowledge of the production process stages, training basic aspects of accounting standards and inflation adjustments, project management, training the development of new products, etc.

Another segment that has required a great deal of dedication is that of workplace safety. In this area we have dealt with training for handling loads, rescues during work at heights, regulatory standards for electricity, risk analysis, operational controls, firefighting, use of defibrillators and CPR, and we have even included safe driving training.

Technical retraining is often important as well, and this year, in addition, we have been able to focus on training with regard to current transformer calculation, saTECH CNF, various technical notes and station instructions for routine testing, partial outage measurement methods, inspection procedures, and combined transformer test status, etc.

Intense dedication to training our team

The company is involved in the social development of the regions where it is established, collaborating with local associations and ONGs, making economic contributions and, in certain cases, advising them on business management issues and fostering contacts and relations with other companies.

In Mexico, for example, Arteche holds the distinction of a Socially Responsible Company, a recognition granted by the Mexican Center for Philanthropy and the Alliance for Corporate Social Responsibility (CEMEFI), which accredits the due quality of the company, its business ethics, and its relationship with the community where it is located, as well as how it cares for the environment. Every year we deliver tons of wood, tools, and other materials to different groups and associations throughout the region. On the other hand, scholarships are given to employees’ children with the best grade point averages so they can improve their studies.

We also participate in training centers and forums for the development of knowledge, technology, and innovation, such as the Politeknika Txorierri, the Basque Agency for Innovation, the Energy Cluster, or the Management and Finance Forum in Europe.

We also regularly support entities and sports clubs in our immediate surroundings, such as the Athletic Club Foundation or football, basketball, rugby, or Basque pelota clubs in Mungia. We also wish to highlight our collaboration in sponsoring an elite paralympic athlete from Mungia.

Lastly, we also usually provide small amounts of funding for socio-cultural activities in the surrounding area, such as aid for the promotion of Euskera or local traditional events in the region. In Argentina, school supplies are distributed to the children of the Group’s employees.

A socially responsible companyFeatured News

Arteche is an organization that is fully committed to the continuous improvement of safety and the Prevention of Occupational Risks, with the aim of achieving and maintaining a healthy working environment, focused on both the people who make up the Group and those who collaborate with us or use our products and services.

We have a unified accident analysis system so that all plants, regardless of the particularities of each country, use the same criteria and language.

By sharing this information, we can learn from each other, always based on the most demanding and stringent criteria.

In general, we consider that there are no risk situations that could generate a high incidence of occupational illness or a serious case of the same.

General Management, aware of the importance of good planning for the prevention of occupational risks, assumes the following functions within its responsibilities:

• Approval and regular monitoring of established safety and health objectives.

• Monitoring and continuous improvement of health and safety management and its implementation, as well as improvement indicators for Health and Safety.

• Promotion of development, continuous improvement, and compliance with procedures that support the health and safety processes as defined in the model.

• Assurance that the integrity of the system is maintained when changes are implemented.

The management model, established within the Integrated Management Manual of the Arteche Group and drawn up by the Management Representative and approved by General Management, applies to the entire organization.

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Confebask, the Basque Business Confederation, awards the Arteche Group for its commitment and support for vocational training and its collaboration with training centers

Confebask, the Basque Business Confederation, has recognized the Arteche Group with the Empresa&FP 2018 Award, an award that recognizes our commitment and support for vocational training, dual training, professional internships, and collaboration with Training Centers.

The Arteche Group has been nominated as a candidate by the Vocational Training Center of Mungia. The center began with the Mungia Elementary Parish School of Work, founded in 1951, with Don Aurelio de Arteche as an outstanding founding member.

Since then, Arteche has been committed to vocational training and continues to be, this being a way to promote equal opportunity and the development of the professional careers of our team members, and a way of achieving our objectives and overcoming the challenges we face.

Recognition for our support of Vocational Training

Arteche is a participant in the initiative organized by FVEM, the Vizcaya Federation of Metal Companies, to make the Industrial Sector more visible

A group of students from the Askartza School visited our facilities within the framework of the celebration of Industry Day, organized by FVEM, the Vizcaya Federation of Metal Companies.

The Arteche Group has been one of 28 companies participating in this initiative which aims to make the industrial sector visible and to allow youth and teenagers at the age of deciding where to take their professional careers, to discover the reality and the possibilities offered by these companies.

Committed to Vocational Training

Visit by the Askartza educational center to the Arteche facilities in Mungia on the occasion of Industry Day(November 22nd).

Presentation of the award to Maite del Castillo, Arteche Director of Human Resources in EMEA.

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245 images submitted

Sent from 20 different countries, they participated in the fourth edition of the artPhoto photography competition, organized annually by the Arteche Group.

In this edition, which has brought together the largest number of participants to date and has tripled the previous edition, the daily use and social impact of electricity in our lives and the infrastructures that surround us has been captured in four different categories.

The fourth edition of the competition has been a resounding success not only due to the high level of participation, which far surpassed previous editions, but also because of the technical and artistic quality of the images presented, which have greatly exceeded expectations.

From Arteche, we want to congratulate the winners of the competition for their magnificent photographs that are highly deserving of the prize, and wish to thank all the contestants for their participation in the IV artPhoto competition.

IV artPhoto receives three times as many images as III artPhoto

“Trabajo” | Hernan Jaramillo | ArtPhoto IV (winning photo from the “Electrical work” section)

“Trenbidea” | Félix Urrutia | ArtPhoto IV

“Transfer lines” | Mohammad | ArtPhoto IV

“The power of hong kong” | Chung | ArtPhoto IV

“In the sky” | Seyed Morteza | ArtPhoto IV

“Platform” | Hamed Sadeghi | ArtPhoto IV

“The power of hong kong” | Chung | ArtPhoto IV

Milestones

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Arteche in the world

ARTECHE USA -Miami-

UNITED STATES

ARTECHE NORTH AMERICA -Tepeji del Río-

AMYT -México DF-

ARTECHE ACP -México DF-

ARTECHE MÉXICO TURNKEY SOLUTIONS -México DF-

MEXICO

Santiago de Chile

CHILE

AIT -Córdoba-

Buenos Aires

ARGENTINA

ARTECHE EDC -Curitiba-

ARTECHE STK -Curitiba-

São Paulo

BRAZIL

ARTECHE MIDDLE EAST JLT -Dubái-

UNITED ARAB EMIRATES

París

FRANCE

SOUTH AFRICA

Johannesburgo

INDIA

ARTECHE SMARTGRID INDIA PVT -Bangalore-

THAILAND

Bangkok

ARTECHE SMART DIGITAL OPTIC -Sídney-

AUSTRALIASPAIN

GRUPO ARTECHE -Mungia- headquarter)

ELECTROTÉCNICA ARTECHE HNOS. -Mungia-

ARTECHE SMART GRID ELECTROTECHCNICS -Mungia-

ARTECHE TECHNOLOGY CENTER -Mungia-

SAC -Madrid-

ARTECHE GAS INSULATED INSTRUMENT TRANSFORMERS -Vitoria-Gasteiz-

Seville office

CHINA

ARTECHE DYH -Dalian-

Shanghái

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Some collaborations

We collaborate with various associations of a technological and social nature at an international level, in line with our motto.

“Street lights in the dark” | K-ON | ArtPhoto IV

Moving Together

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“El día que no trabajé” | Bruno Sans | ArtPhoto IV

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