Spain Consolidation Creates Massive Shipbuilder

Friday, July 21, 2000
Spain's state holding company Sepi said it had created the world's 10th largest shipbuilder with annual sales of around $1.25 billion. The group, which formally begins in October, will be formed from the merger of Spain's military shipbuilder Bazan with the civil yards including Astano, Cadiz and Manises. Its order book will be worth 638 billion pesetas, Sepi said in a statement. The merger is part of Sepi's plan to cut losses in the state-controlled industry and improve operating results by 20 billion pesetas, with the help of 100 billion pesetas of investment between now and 2005. This should make the new group profitable and competitive in world markets, Sepi said. Spain has tried to shake up its civilian shipbuilding interests four times in the last 15 years. The last three plans have resulted in 12,000 job losses and accumulated losses of 587 billion pesetas, Sepi said.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

QinetiQ Signs Contract with ASV

QinetiQ, as part of a new Marine Surface Target Service, has signed a contract with Autonomous Surface Vehicles (ASV) for the supply and operational support of autonomous surface target vessels.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Bollinger to Build 6 More FRCs for the USCG

Bollinger Shipyards, Inc., Lockport, Louisiana, announced the award of six additional USCG Sentinel Class Fast Response Cutters (FRCs). The U. S. Coast Guard

Shipbuilding

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Volvo Penta Diesel Sterndrives for Metal Shark Patrol Boats

Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability.

More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China.

 
 
Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1032 sec (10 req/sec)