Plan de restructuration en vue pour Navantia : les ouvriers manifestent | PalestineReconquista |

The management of Navantia want to avoid at all costs the bankruptcy of the company. Its president, Jose Manuel Revuelta, in collaboration with the head of the Spanish Society of Industrial Participation (SEPI), Ramon Aguirre, works in the viability of the shipbuilder. However, the bills do not go despite having taken the first steps to reduce expenses. Navantia has no workload and, what's worse, there is no short-term expectations to sign a contract to provide financial oxygen. The company has survived the last eight years of the agreements signed between 2004 and 2007 following the conversion of Izar. The workload is over for Galicia and the Bay, while the company is drowning in losses. Today, the six public shipyards in the country join forces to take to the streets to demand jobs and thereby save their jobs. At the same time, the Board will hold a meeting at which its operators are expected to put on the table the financial statement of 2012 that may yield a loss of 110 million euros before tax. The situation will be unsustainable in the coming year if the management company does not take action now. To continue in this line may go bankrupt by the burden posed on its income statement the accumulated losses, to be determined. Navantia, like it or not, is facing a new conversion. The defense cuts in Spain and in the rest of the world and competition from Asian shipyards have jeopardized this company public. The Government must now decide what to do: continue building or, conversely, as a company Navantia leave maintenance and repairs. The decision is complicated, but everything points to a workforce reduction to survive a few more years.

Source :

Via Patrick H.