Astander privatised

Privatisation of the Astilleros Espanoles group repair yard Astander was finalised on November 16. The Santander yard has been sold to the Greek group Lavinia Italmar, which also owns the Astican yard in the Canary Islands.

Local press reports indicate that the Greek owner will pay Ptas300 million ($1.8 million) for Astander. It has also undertaken to increase workload at the yard and invest Ptas900 million ($5.42 million) over the next five years. The group owns and manages a large fleet of reefers and other commercial tonnage.

As a private shipyard Astander will be able to re-enter the conversion market, where it has extensive experience.