► The Spanish company Escribano acquires 3% of Indra and increases its position in the Defense Sector

Madrid, May 16th 2023 – Escribano Mechanical & Engineering, family owned company specialized in innovation and technologies for defense, has acquired 3% of the shareholding of Indra, an operation valued in more than 65 million euros. Escribano becomes the second industrial partner in Indra and increases its position of reference in the Defense Sector.

Sources from the company state that this operation is a result of a “clear commitment to solidity of the Spanish Defense Industry, it is an strategic and technological sector for the economic and social development of Spain, which Escribano has a strong commitment to and to which they contribute with their experience”.

The company, founded in 1989 by Angel Escribano, started its path as a small workshop for machining and its trajectory is a history of adaptation and perseverance. The two sons of the founder, Angel and Javier Escribano, currently president and CEO, have been responsible of the growth that the company has experienced in the last ten years, in which the company has transformed from 80 to 700 employees, with estimated revenues for 2023 of 140 million euros and with operations in more than 20 countries.

One of the factors that explains this strong growth is the vision that in 2010 they started to implement: to achieve the vertical integration of its capacities. For this reason, the company started an implementation of a policy for R&D, hiring engineers and technical profiles to be able to control the complete chain of production of its products. Now, Escribano designs and manufactures its products in their facilities in Alcala de Henares, Madrid.

Nowadays the staff is formed by more than 700 people, 40% women, with an average age between 30 and 35 years old, engineers and technical profiles in its majority. To achieve this growth, Escribano develops a strong collaboration with the academia promoting synergies with universities in Spain, the company in this sense, has started its project for the future Technology Center, a space of 3.000 sqm where the initiatives of research and development will mature.