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Gobierno de España - Ministerio de Hacienda y Función Pública
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SEPI reiterates to the trade unions the commitments made in the IZAR Workforce Guarantees Agreement

Press release SEPI

Meeting of the Follow-Up Commission of IZAR en Liquidación

The state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) has reiterated to the trade unions' representatives that the commitments made in IZAR Workforce Guarantees Agreement, which was subscribed as a result of the sale of the assets of IZAR en Liquidación, continue to be in force. This ratification has been made during the meeting which took place today of the Follow-Up Commission of the above mentioned Agreement, which is made up by SEPI itself, by IZAR, and by the trade unions' federations of UGT and CCOO which signed the Agreement.

In this meeting, which takes place on a regular basis, were present SEPI's Vice President, Mr. Federico Montero; the Chairperson of the Commission for IZAR's liquidation, Mr. Juan Taus; the Secretary for Trade Union Policy of the MCA-UGT Federation, Mr. Carlos Romero, and the Secretary of the Shipbuilding Industry of CCOO, Mr. José Ramiro González, as well as other representatives of these entities. The goal of this meeting was, in line with the purpose of the Commission, to analyze all the issues regarding the general situation of the shipyards which were sold.

UGT's and CCOO's representatives, SEPI and IZAR have agreed to meet again soon.

The Workforce Guarantees Agreement was subscribed on November 2nd, 2006, by SEPI, IZAR, and the trade unions UGT and CCOO, within the framework of the process for the sale of IZAR's shipyards, with the goal of strengthening the employment relationships of the workers who had been transferred with the assets, in the eventuality of a crisis of the industrial project on the part of the Buyers. This Agreement includes SEPI's and IZAR's commitment during a 10-year period for providing alternative jobs to the workers who might be affected, as well as ameliorating and compensating measures in case that it were not feasible to employ them.

The sale of the shipyards, which took place on November 30th, 2006, was carried out in accordance with the criteria stipulated by the European Commission and fulfilling that envisaged in the Framework Agreement on IZAR subscribed on December 16th, 2004 between SEPI, the Company and the trade unions, whose basic goal was that of maintaining the industrial activity in all IZAR's military and civil workplaces.

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