Fueling Economic Growth

Francisco Riberas, P’13, ’15

Despite Spain’s sluggish economy, Gestamp Automocion is growing.

The automotive manufacturing firm’s president and CEO, Francisco Riberas, P’13, ’15, attributes this success to the company embracing entrepreneurship and globalization.

Riberas’ father founded Gestamp in the late 1950s as a steel distribution company, and the firm rose to prominence in the mid-1980s. A few years after Riberas joined the business in 1988, Gestamp began manufacturing automotive parts and expanding into Italy, Portugal, and France. During the last decade, it has diversified into renewable energy and branched out into the U.S., India, and Brazil. It employs 32,000 people in 22 countries.

The values that have fueled this growth are the same that Riberas’ daughters, Patricia ’13 and Monica ’15, are learning about at Babson through courses and from their peers, whose different origins bring new perspectives into the classroom. They also are the values that Riberas promotes with his financial support of Babson’s Global Consortium for Entrepreneurship Education, which has a goal of expanding and improving entrepreneurship education worldwide.

“I support Babson because I appreciate all the College is doing for my daughters,” he says, adding that having them join the family business one day “would be a dream.” He also believes that entrepreneurship and globalization are the keys to unlocking economic growth. “These things are not as appreciated in Spain or other countries, but I want to help show their value to the world.”