In the current era of Industry 4.0, sensor data used in connection with machine learning algorithms can help manufacturing industries to reduce costs and to predict failures in advance. This paper addresses a binary classification problem found in manufacturing engineering, which focuses on how to ensure product quality delivery and at the same time to reduce production costs. The aim behind this problem is to predict the number of faulty products, which in this case is extremely low. As a result of this characteristic, the problem is reduced to an imbalanced binary classification problem. The authors contribute to imbalanced classification research in three important ways. First, the industrial application coming from the electronic manufacturing industry is presented in detail, along with its data and modelling challenges. Second, a modified cost-sensitive classification strategy based on a combination of Voronoi diagrams and genetic algorithm is applied to tackle this problem and is compared to several base classifiers. The results obtained are promising for this specific application. Third, in order to evaluate the flexibility of the strategy, and to demonstrate its wide range of applicability, 25 real-world data sets are selected from the KEEL repository with different imbalance ratios and number of features. The strategy, in this case implemented without a predefined cost, is compared with the same base classifiers as those used for the industrial problem.