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Gobierno de España - Ministerio de Hacienda y Función Pública

Privatization file:ASTANDER



A company located in El Astillero (Cantabria). Its activity is focused on ship repairs and specialized transformations.
State-owned equity remaining
% stake sold State-owned equity remaining
100% 0%
Type of deal Buyers Date SEPI CCP's report Government approval
Private sale (bid) Italmar 21/10/1999 Nov.99 12/11/1999


The process of sale of this Cantabrian shipyard was based in the search of an option which guaranteed its future activity, in a very complex environment as is the shipbuilding industry. The offer presented by Italmar included as the most significant elements of its industrial project the following;

  • Strengthening of Italmar's fleet reparations, of the associated companies and of other, with which Italmar has commercial relationships, and which are active in Northern Europe.
  • Widening of the product range, entering into the sector of the repair of fishing vessels and medium sized ships, with a special interest in developing the local market.
  • Exploitation of the commercial synnergy with Astican, a shipyard belonging to the same industrial group.
  • To approach in the second year the market of transformations of medium-sized ships (up to six times the cost of a reparation of middle size).
  • Strengthening of the commercial management and implantation of a chain of agents.
  • Introduction of a new works' management system, and the computerization of the control and follow-up in real time.
  • Implantation of a decentralized management model, of a horizontal organization structure and of management by objectives (MBO).
  • Logotipo ecológico

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