Izar reborn as Navantia

Navantia is the new name chosen for the former Spanish shipbuilder Izar and SEPI, the owners, will own the new company which will consist of the military naval yards of Cartegena, Fene, Ferrol and San Fernando. Navantia will also integrate the commercial yards of Cadiz and Puerto Real and it is expected that the new organisation will stand a better chance of survival than the remnants of Izar?s facilities. These are made up of Sestao, Seville, Gijon and Manises and they now find themselves in a precarious position since, despite a recent announcement of a newbuilding contract, no firm order has been signed. The Spanish government is now trying to find a buyer for the civilian yards and the engine manufacturing plant.