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 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SUNY Maritime College Names ABS Chairs

The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive

Austal Starts Next US Littoral Combat Ship

Austal and the U.S. Navy held a keel-laying ceremony today for the future USS Manchester (LCS 14), marking the first significant milestone in its construction.

Conference to Delve into Hybrid Power & Propulsion

The first international Hybrid Marine Power & Propulsion Conference will be held at the RNLI Lifeboat College, Poole UK from October 6-8, 2015.   Shock Mitigation

Shipbuilding

AOD Orders 2 Jack-up Rigs at CSSC Huangpu Wenchong

CSSC Huangpu Wenchong Shipbuilding Company has won an order to build a pair of jack-up drilling rigs for Alliance Offshore Drilling (AOD), subsidiary of Hong Kong-listed TSC Group.

Tuco Reveals New Naval Interceptor Vessel Design

Following last week’s Seawork exhibition on workboats and small military and security vessels, Tuco Marine of Denmark reveals its newest vessel in the ProZero line.

Austal Starts Next US Littoral Combat Ship

Austal and the U.S. Navy held a keel-laying ceremony today for the future USS Manchester (LCS 14), marking the first significant milestone in its construction.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1491 sec (7 req/sec)