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

People & Company News

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

HMAS Anzac Visits Portsmouth, UK

The Royal Australian Navy’s helicopter frigate HMAS Anzac has arrived in Portsmouth, England, as part of her NORTHERN TRIDENT 2015 deployment.   Anzac departed Sydney in March 2015,

Shipbuilding

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Conrad Announces Management Team Changes

Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer.   Johnny Conrad, President and Chief Executive Officer,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1654 sec (6 req/sec)