Nicolás Correa S.A., all its subsidiaries, its Board of Directors, its management teams and all its employees mourn his loss today. They will always be grateful for the commendable work carried out by their President, his dedication, and contributions in the performance of his duties and convey their condolences to his family and friends.
Born in Madrid in 1949, his career has always been linked to the business world, following in the footsteps of his father, Baldomero Nicolás-Correa, founder of Nicolás Correa, a company to which they both dedicated their lives.
In 1969, at the age of 21, he formally joined the family business, taking over responsibility for the Export Department, a post in which he developed a commercial vocation that would stay with him forever. That same year he was appointed Secretary of the Board of Directors, a position he held until he took over as Managing Director in 1981. In 1984, after the death of the founder, he took over as Chairman, a position from which he has led the company´s policy and strategy for the last 40 years, managing to take the company to the top of the machine tool sector. In 1989, the company was listed on the Madrid Stock Exchange, and in the 1990s, the Correa Group was created as such, which has continued to grow and expand ever since, with five industrial subsidiaries and four commercial subsidiaries in the world´s main markets.
Exportation, under the maxim that “the market is the world”, which José Ignacio Nicolás-Correa took to its ultimate consequences, has marked the expansion of a business based on three fundamental pillars: technological development, product quality and the people who form part of this project.
Throughout his career, he has never neglected his commitment to the sector and society, actively participating in different institutional projects. He was President of the European Machine Tool Committee, CECIMO, President of the Burgos Metal Federation, FEMEBUR, and President of the Association for Progress and Management, APD, in Castilla y León. He was also Director of ICEX, member of the Social Council of the UBU and trustee of its Foundation, and member of the Advisory Board of Caixa Bank in Castilla y León.
As a businessman, he has not been limited to the Correa Group and there have been many milestones in his long career as an entrepreneur beyond the world of machine tools, always seeking diversification, value generation and job creation. His passion for technology led him to create Hiperbaric in 1999, a leader in the field of high-pressure food preservation, a company he chaired until its sale in 2017. He is Chairman of Sancor Capital S.L., a company dedicated to investment and business search, and Sole Administrator of Sancorganic S.L.U., a company dedicated to agri-food and Sancor Real Estate S.L.U., a real estate company.
He holds a degree in Law from the Complutense University of Madrid, a Diploma in Business Tax Consultancy from ICADE, a PDG from the Instituto de Estudios Superiores de la Empresa, IESE, of the University of Navarra and a PhD in History from the CEU San Pablo University. Academic training was a constant throughout his life, both as a teacher and as a student, with a very special involvement with the University of Burgos, where he regularly gave seminars to master´s and doctoral students in the Faculty of Economics. It is at this University, UBU, where he achieved in April 2024 the highest degree that can be obtained in an academic institution by being invested Doctor Honoris Causa.
About Correa Group.
The Correa Group is one of the leading suppliers of milling machines and large machining centres, adapted to the most demanding production environments, such as the energy, automotive, aerospace and railway industries. Thousands of customers around the world rely on its solutions, designed, and manufactured in Burgos, to meet their machining needs. Nicolás Correa currently exports around 90% of its production to more than 20 countries.
In 2023, the Correa Group achieved record figures in terms of profitability, EBITDA and profit, as well as in terms of sales, order intake and order book. It is now one of the top 5 European manufacturers in terms of volume in its product type. It maintained the positive trend of previous years and achieved a profit of 10.8 million euros, with a consolidated turnover of 109.9 million euros. It also reached its maximum workforce, closing the year with 450 people on the payroll.
