Noreste; País Vasco; Vizcaya
Location of affected unit(s)
Sestao (Vizcaya)
Manufacture For Transport Equipment
Manufacture Of Other Transport Equipment
30 - Manufacture of other transport equipment

236 jobs
Number of planned job losses
Job loss
Announcement Date
18 July 2006
Employment effect (start)
1 August 2006
Foreseen end date


The Management Board of the SEPI, the Spanish state owned company for the promotion of industrial participation, authorized on 3 October 2005 the privatisation of Izar Construcciones Navales S.A. and the sale of three of the four companies belonging to Izar on 18 July 2006. According to SEPI, the sale must be signed before 1 August 2006 in order to avoid the closure of all factories of the group. The buying companies, with the exception of Construcciones Navales del Norte, S.A., have engaged themselves to support all the jobs (Izar has 1053 employees in Spain). This company (Construcciones Navales del Norte, S.A.) is going to acquire the Sestao factory and is planning a redundancy procedure affecting 236 of the 576 employees in Sestao. The main unions announce workers' mobilisations to protest against a breach of an agreement signed in December 2004 which approved not to sell the factories separately.


  • 17 July 2006: El País
  • 19 July 2006: El País
  • 20 July 2006: El País
  • 21 July 2006: El País


Eurofound (2006), La Naval, Merger/Acquisition in Spain, factsheet number 63810, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63810.