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Gobierno de España - Ministerio de Hacienda y Función Pública
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SEPI reiterates that it will fulfill all the commitments included in the Labor Guarantees Agreement with Juliana's employees

Press release SEPI

With regard to the current situation in which founds itself Juliana¿s shipyard, the state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) reiterates the validity, in all its terms and conditions, of the commitments assumed in the Labor Guarantees Agreement which was subscribed in connection with the sale of the assets of IZAR en Liquidación. This commitment has been ratified in all the meetings of the Follow-Up Commission of the above mentioned Agreement which periodically take place; this Follow-Up Commission is made up by representatives of SEPI itself, of IZAR and of the trade union federations of UGT and CCOO which signed the Agreement.

The Labor 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 aim of guaranteeing the job of the workers of the sold shipyards in the event of a potential crisis of the Buyers' industrial project.

The sale of IZAR's shipyards, which took place on November 30th, 2006 was completed in compliance with the criteria laid out by the European Commission and meeting that envisaged in the Framework Agreement for IZAR, which was signed on December 16th, 2004 between SEPI, the Company and the trade unions.

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