FORMIN
FORMIN is a Spanish precision metal stamping manufacturer serving automotive Tier 1 suppliers and electrical OEMs via four Spanish plants. It differentiates through proprietary BEMAT multi-slide busbar technology and a vertically integrated stamping, overmoulding, silver soldering and assembly stack.
- Company typePrivate
- Founded1985
- HeadquartersCastellbell, Spain
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What FORMIN does
FORMIN, SA (trading as Forminsa) is a Spanish precision metal stamping manufacturer founded in 1985 in Castellbell, Barcelona, and now headquartered in Sant Fruitós de Bages. The group operates four production plants in Spain covering progressive and transfer stamping, in-house designed multi-slide forming, plastic overmoulding, continuous silver soldering, automated assembly and tubular rivet manufacture, with press capacity from 15 to 1,500 tonnes and material thickness capability of 0.05-3 mm. Its proprietary BEMAT multi-slide machine technology targets EV battery busbars and is reported to cut busbar cost by 15-20% and material scrap from 91% to roughly 8% versus conventional stamping. The customer base is dominated by automotive Tier 1 and Tier 2 suppliers (Valeo, Lear, BorgWarner, ZF, Vitesco, Grammer, Grupo Antolín, Inalfa, Magneti Marelli), with the electrical industry (Siemens, Schneider Electric, ABB, GE, Nidec, TE Connectivity) and other sectors accounting for the remainder; approximately 70% of sales are automotive and 23% electrical.
The business model is contract manufacturing: FORMIN designs tooling in collaboration with customers, produces precision stamped components and assemblies to specification in medium-to-large series, and sells directly to enterprise OEMs under quote-based pricing. Revenue grew sharply via the January 2024 acquisitions of Metal Parts Orcoyen (rebranded Forminsa Navarra, with 13 large presses of 160-1,200 tonnes) and the integration of DAYCO St. Fruitós de Bages, which together tripled group turnover. Forward investment is concentrated on e-mobility: a €2,504,000 EV production line commissioned in March 2025, the CDTI-funded BEAMSHAPE laser welding project (2024-2027), a PERTE VEC project for fully automated busbar manufacturing announced November 2025, and dual TISAX / ISO 27001:2022 certification achieved in November 2025.
The company remains privately held under co-founders Francisco Codina and Josep Sanchez, with no disclosed external investment or parent, and sells into 23 countries across EMEA, the Americas and Asia Pacific. Operating geography is global in customer reach but concentrated in Spanish production; differentiation rests on proprietary metal-forming IP, automotive-grade certifications, and a vertically integrated service stack rather than scale alone.
FORMIN firmographics
Firmographics- Name
- FORMIN
- Legal name
- FORMIN, SA
- Website
- https://forminsa.com
- Company type
- Private
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FORMIN is a Spanish precision metal stamping manufacturer serving automotive Tier 1 suppliers and electrical OEMs via four Spanish plants. It differentiates through proprietary BEMAT multi-slide busbar technology and a vertically integrated stamping, overmoulding, silver soldering and assembly stack.
- Ownership category
- akta.pro rank
FORMIN industry classification
Industry- Product category
- Precision Metal Stamping
- NAICS
- Forging and Stamping (3321), Plastics Product Manufacturing (3261)
- akta.pro primary industry
- Metal Forming & Fabrication Machines (Presses, Bending, Shearing, Stamping) (IMAHADAC)
- akta.pro secondary industries
- Custom Injection Molding & Contract Manufacturing (Job Shops/CMs) (IMANAFAJ), Tool & Die Making (EDAOAGAC)
Keywords
Where FORMIN is headquartered
LocationHeadquarters
- HQ city
- Castellbell
- HQ country
- Spain
- HQ region
- Europe
Offices4 records
Markets served
FORMIN business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Metal Stamping Manufacturing Services: Custom precision metal stamping services for automotive and electrical industry customers, producing complex stamped metal components in medium to large series using transfer and progressive presses. Revenue is generated through manufacturing fees for customer-specific parts.
- Busbar Production: Production of busbars for electric vehicles and electrical applications using proprietary BEMAT technology. Busbars are essential components in EV battery construction.
- Assembly and Integration Services: Supply of assembled components through automated lines, integrating subassemblies with artificial vision, scanning and marking systems.
- Plastic Overmoulding Services: Plastic overmoulding on pre-stamped metal parts for connectors and similar components using roller-fed injection presses.
- Tubular Rivets and Tube Processing: Manufacturing of tubular rivets and tube cutting/bending services using specialized lathes and machinery.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
FORMIN product offering
Product offeringCore offering
FORMIN (FORMINSA) is a precision metal stamping contract manufacturer producing complex stamped metal parts in medium-to-large series using transfer and progressive presses (0.05 mm to 3 mm thickness, presses from 15 to 1,500 tonnes). The portfolio spans stamping, forming via proprietary BEMAT multi-slide technology (especially for EV battery busbars), plastic overmoulding, continuous silver soldering, automated assembly with AI-based 100% visual inspection, and tubular rivet manufacturing. It supplies Tier 1 and Tier 2 customers in automotive (70% of sales), electrical (23%), and other industrial sectors across 23 countries, operating four production plants in Spain.
Product overview
FORMIN is a precision metal stamping manufacturer operating since 1985 with 4 production plants in Spain. The company offers a portfolio of core manufacturing services including precision metal stamping via transfer and progressive presses, forming operations using proprietary BEMAT technology for busbar production, assembly, plastic injection moulding, silver soldering, and tubular rivet manufacturing. Key proprietary offerings include BEMAT (Multi-Slide Machine) technology that reduces busbar costs by 15-20%, reusable metallic clamps for circular economy applications, and comprehensive busbar solutions. The company serves automotive (70% of sales), electrical (23%), and other industrial sectors including medical devices, laboratory technology, and appliances.
Differentiator
Problem solved
Functional benefit
Brands
- BEMAT: Proprietary multi-slide machine technology for manufacturing busbars with maximum precision and minimal material waste. Reduces busbar cost by 15-20% compared to conventional stamping.
Products and services
- Precision Metal Stamping (Estampación) Precision metal stamping service using transfer and progressive presses, producing complex and precise stamped metal parts from 0.05 mm to 3 mm thickness. For automotive Tier 1/Tier 2 suppliers and electrical equipment manufacturers needing medium-to-large series production.
- BEMAT Busbars Proprietary BEMAT multi-slide machine technology for automatic busbar production. Reduces busbar cost by 15-20% versus conventional stamping and uses insulated raw material (PA, PI) with automatic insulation removal at connection points. Targeted at EV battery manufacturers and electrical applications.
- Multi-Slide Forming (Conformado) Metal forming service using MAT20 multi-slide machines with multiple slides and servomotors designed and built in-house. Specialised in producing busbars and complex parts with minimum material waste. For automotive and electrical customers needing formed components.
- Automated Assembly (Ensamblaje) Assembly of sets and subassemblies using specialised automatic machinery integrating artificial vision, scanning and marking systems. For Tier 1 and Tier 2 customers requiring traceable, inspected sub-assemblies.
- Plastic Overmoulding / Plastic Injection Moulding Plastic overmoulding service on previously stamped metal parts using roller-fed injection presses, primarily for connector manufacturing. For electrical and automotive connector applications.
- Continuous Silver Soldering Continuous silver soldering for electrical contacts performed directly inside stamping presses during the stamping process, ensuring high precision and productivity for electrical connection components. For electrical equipment manufacturers (switches, meters, fuse holders, sockets).
- Tubular Rivets Manufacturing Manufacturing of tubular rivets and tube cutting/bending services using specialised lathes and machinery. For customers needing rivets and formed tubular components.
- Reusable Metal Clamps (Bridas) Reusable metallic clamps representing a circular-economy fastening solution, sold through the FORMINSA online shop. For industrial buyers seeking reusable alternatives to single-use plastic ties.
Quantifiable outcome
- Reduces busbar cost by 15-20% compared to conventional stamping
- +5 more outcomes
Companies that use FORMIN
Customer profileNamed customers16 records
Segments3 records
Ideal customer profiles3 records
FORMIN technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
FORMIN partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor.
- PERTE VECminorProject under Experimental Development for first fully automated and modular process for manufacturing electric car battery busbars, validated at technology maturity level 7.
- ACCIÓ (Agència per a la Competitivitat de l'Empresa)minorFORMINSA received financial support from ACCIÓ for specialized technical consultancy on the project 'Carbon Footprint Assessment and Decarbonization Plan of Forminsa' under the 2024 Business Competitiveness Coupons programme, CUPONS GREEN funding line.
- CDTI (Centro para el Desarrollo Tecnológico Industrial)minorFORMINSA received CDTI grant for CIIP-20242022 BEAMSHAPE project developing intelligent and dynamic shaping from laser beam (MPLC) for e-mobility sector, specifically for electric battery busbar production.
- Salesians de TerrassaminorTraining partnership agreement signed allowing students to complete vocational mechanical training with alternating studies at FORMINSA facilities. Part of broader initiative with Castellbell i el Vilar municipality.
- UN Global CompactminorFORMINSA is a signatory participant committed to ten universal principles in human rights, labor standards, environment, and anti-corruption.
- CFSI (Conflict-Free Sourcing Initiative)minorFORMINSA participates in CFSI ensuring that raw material sources do not come from conflict countries.
- Future: Fast ForwardminorFORMINSA is a member of the largest automotive industry business grouping in Spain, comprising 62 companies across 11 autonomous communities working on electrified and sustainable mobility ecosystem.
Scale indicators16 records
Recent moves8 records
Expansion highlights5 records
FORMIN competitors and assessment
Company assessmentDirect peers
- Shiloh Industries: US-based provider of lightweight stamping, welded blanks and noise/vibration solutions for automotive. Comparable in precision engineered metal components for North American and global OEMs.
- Futaba Industrial: Japanese precision metal stamping manufacturer supplying exhaust, chassis and EV battery-related components to global OEMs. Direct functional peer in busbar/stamping for electrified vehicles.
- Martinrea International: Canadian Tier 1 automotive metal stampings, assemblies and modules supplier. Comparable in mid-volume precision stamped components for global OEMs.
- Gestamp: Spanish-headquartered global leader in metal stamping and chassis components for automotive OEMs. Most direct strategic and geographic peer to FORMINSA's Tier 1 automotive stamping focus.
- Sango Co. Japanese metal stamping and assemblies supplier to Tier 1 automotive customers. Closely comparable in serial production of complex stamped sub-assemblies.
Others
- TRW Aftermarket (ZF Aftermarket): Adjacent Tier 1 customer ecosystem ZF is a stated FORMINSA customer. Included as an enabling/customer-side adjacency rather than direct competitor.
Broad incumbents
- Magna International: Global Tier 1 supplier with a large metal-forming and stamping footprint alongside broader vehicle systems. Overlaps with FORMINSA in stamped automotive sub-assemblies but operates at vastly larger scale.
Emerging players
- Mitsui High-tec: Specialist manufacturer of motor core stampings and EV-related precision metal components. Emerging-play direct competitor in EV and electrical motor laminations.
Regional players
- Stampings Solutions (Weber Stampings): European-based medium-series precision stampings and assemblies supplier to automotive Tier 1s. Comparable scale and European customer overlap.
- Muelheim Stahlverarbeitung (MST): German precision stamping and assembly specialist serving European automotive and electrical customers. Comparable in technology mix and customer profile, regional EMEA peer.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
FORMIN social profiles
Digital presenceFORMIN compliance and trust
Trust signalCompliance5 records
FORMIN financial estimates
Financial estimateRevenue estimate
Valuation estimate
FORMIN leadership team
Management profileNumber of profiles
Profiles2 records
FORMIN subsidiaries and ownership
Company hierarchySubsidiaries6 records
FORMIN funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FORMIN M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FORMIN
What does FORMIN do?
FORMIN (FORMINSA) is a precision metal stamping contract manufacturer producing complex stamped metal parts in medium-to-large series using transfer and progressive presses (0.05 mm to 3 mm thickness, presses from 15 to 1,500 tonnes). The portfolio spans stamping, forming via proprietary BEMAT multi-slide technology (especially for EV battery busbars), plastic overmoulding, continuous silver soldering, automated assembly with AI-based 100% visual inspection, and tubular rivet manufacturing. It supplies Tier 1 and Tier 2 customers in automotive (70% of sales), electrical (23%), and other industrial sectors across 23 countries, operating four production plants in Spain.
Is FORMIN a public or private company?
FORMIN is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was FORMIN founded?
FORMIN was founded in 1985. It employs 11 to 50 people.
Where is FORMIN based?
FORMIN is headquartered in Castellbell, Spain, in the Europe region.
How does FORMIN make money?
Five revenue lines are on record. Metal Stamping Manufacturing Services are the primary driver. The others are busbar Production, assembly and Integration Services, plastic Overmoulding Services and tubular Rivets and Tube Processing.
Who are FORMIN's main competitors?
Direct peers on record are Shiloh Industries, Futaba Industrial, Martinrea International, Gestamp and Sango Co.. TRW Aftermarket (ZF Aftermarket) is listed as an others. Magna International is listed as a broad incumbent. Mitsui High-tec is listed as an emerging player. Regional players are Stampings Solutions (Weber Stampings) and Muelheim Stahlverarbeitung (MST).
Does FORMIN have an API?
No public API is recorded for FORMIN.
What industry is FORMIN in?
FORMIN's product category is Precision Metal Stamping. Its primary akta.pro industry code is IMAHADAC, Metal Forming & Fabrication Machines (Presses, Bending, Shearing, Stamping), with a secondary code of IMANAFAJ, Custom Injection Molding & Contract Manufacturing (Job Shops/CMs). Its NAICS code is 3321.