19th to 21st of May 2020

Pymar Naval purchases Gijón through a partnership with Galician presence

The Asturian shipyard had passed by bankruptcy situations and it still accumulates losses of millions. Three Galician shipyards, Hijos de J. Barreras, Freire and Santo Domingo, together Shipyards of Huelva and the Basoues Balenciaga and Zamakona integrate a partnership impelled by Pymar (Small and Medium Shipyards in Reconversion) for the purchase of Naval Gijón, an emblematic company of naval construction, that already only employs more of a hundred of workers and accumulates losses of more than 74 million euros. Sources of the operation, that was consolidated Saturday 22 of October, have not clarified the amount of this purchase, although union spokesmen consider that it will have been a symbolic price (one euro) given the difficult situation that the plant is going through.

The buying partnership, Astilleros Asturianos, is integrated initially by six companies of naval construction, although it is open to the incorporation of more companies associated to Pymar. The origin of this new company responds ”to the initiative of several shipyards that consider, as a sectorial strategy, performances in support of other shipyards that could present/display any type of deficiencies”, explains the gijonian shipyard in an official notice sent this same week.

The shipyard has gone through economic difficulties as a result of the accumulated losses in the construction of the boats and has gotten to be bankrupted, a situation that has forced to reduce share capital, as it is demanded by the law of Public Limited Companies. Example of these vicissitudes is the 19 files of empoyment regulation that they have had since their constitution

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