• Following the acquisition of 80% of Funvesa, a Peruvian company with over 60 years of history.

• The global company ME Elecmetal now has industrial operations in Chile, the United States, China, and Zambia. It sells its products and solutions in more than 40 countries.

Peru, Lima, January 4, 2024. With the formal sign-off of the acquisition, the sale of a controlling stake in Fundición Ventanilla S.A., known in the Peruvian market as Funvesa, was confirmed today. The company, founded by Peruvian investors in 1963, has maintained a successful trajectory for over 60 years under the leadership of the Jiras family. Now, it embarks on a new chapter in its development by joining the ME Elecmetal group, ushering in a stage with an increased exposure to the global mining market under the new name ME Elecmetal Funvesa.

This marks an industrial expansion for the Chilean company ME Elecmetal in the Peruvian market, where it has been operating commercially for over 10 years. The acquisition involves the transfer of 80% of the shares, with the Jiras family retaining a 20% ownership stake.

This strategic partnership between ME Elecmetal and the Jiras family will be led by the new general manager, José Pablo Domínguez, who has a long track record in various operations of ME Elecmetal. Domínguez will receive strategic guidance from Miroslav Jiras, the current vice president of the company who has 10 years of experience leading Funvesa.

José Pablo Domínguez, General Manager of ME Elecmetal Funvesa, stated, “We aim to ensure that operations continue to run as they have in recent years. Our main objective with this acquisition is to continue growing in the Latin American market and strengthen our presence and commitment to the Peruvian mining industry.”

Meanwhile, Eugenio Arteaga, General Manager of ME Elecmetal, stated that finalizing an industrial investment in Peru has been a long-awaited aspiration within our strategy to competitively serve the global mining industry. This strategy has previously led us to invest in the United States, China, and Zambia.

We are making a strong commitment to Peru, to its industrial sector, and to its mining industry. We believe that Peru will continue to grow and lead in producing key metals for the future. This acquisition is a very significant step due to the great importance of Chile and Peru in mining, especially in copper, accounting for 35% of global production together. In this regard, this investment complements our successful commercial presence of more than a decade serving mining clients in Peru.

Funvesa currently has approximately 300 employees. Following this acquisition, a growth plan that primarily aims to meet the needs of the mining industry in Latin America is projected. This involves the manufacturing of special parts for mining, crushing, and grinding.