ruben.maritime

MADRID 01 December – The sale of the former Izar shipyards in Spain has been made official following the signing late yesterday of sale contracts between the new owners and the state industrial holdings company SEPI. The signing of sale contracts provides the new owners – CNN (Sestao), Astilleros de Huelva (Seville) and Factoria Vulcano (Gijon) – with the official approval to contract new orders. Other than the postponed sale of engine maker Manises, which is subject to a European Commission enquiry, the signing of sale contracts brings the privatisation process to a close. The completion of the sale of former bankrupt Izar yards comes after unions and government signed a labour agreement on 23 November. The agreement provides salary increases in line with inflation. It will be renewed for 2007 and 2008 by the new owner of yards and unions. The signing of sale contracts comes after the Spanish government's council of ministers approved the sale of yards on 3 November. Under the sale agreement, the new owners of the yards are obliged to maintain current workforce levels for three years. The sale of yard land will be allowed as from 2012, but this will require authorisation from SEPI.

 

Etiquetas: shipbuilding, shipyards, spain

This entry was posted on domingo, diciembre 03, 2006 at 9:24 a. m.. You can skip to the end and leave a response.