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The deadline for the statement of interest for acquiring IZAR´s assets begins

30/09/2005
Press release (Izar)

From next October 3rd, 2005, and until October 17th, 2005, all those interested in the acquisition of IZAR´s assets can state their wish to take part in the process of sale of the assets belonging to its shipyards in Sestao, Seville and Gijón, and those corresponding to its engines factory at Manises, through a written statement addressed to IZAR Construcciones Navales, S.A. en Liquidación.

That was the decision taken today by the Liquidation Committee of IZAR Construcciones Navales, S.A. en Liquidación. To that end, a formal process for the sale of assets is began, to which are invited all those interested parties which meet a number of objective requirements. Once they have stated their interest in taking part in the sale process, the interested parties must submit the required documentation, which IZAR will notify them, and which they can also find on the following web addresses: www.sepi.es and www.izar.es, since next Monday, October 3rd, 2005.

The process for the sale of IZAR´s assets began on July 22nd, 2005, when IZAR´s Liquidation Committee resolved to appoint Boston Consulting as the external advisor for the sale of its assets, within the framework of the orderly liquidation of this Company.

On April 1st, 2005, SEPI´s Board of Directors and IZAR´s Extraordinary Universal General Meeting declared open the period for the orderly liquidation of the shipbuilding company, in accordance with the plan for the reorganization of the state-owned shipyards which was agreed with the workers´ representatives and which was authorized by the European Commission.

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