Instituto Nacional de Industria

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The Instituto Nacional de Industria ( INI , dt. 'National Industrial Institute') was a state-owned Spanish holding company . It was founded in 1941 as the institutional support for the self-sufficiency efforts of the Franco regime and dissolved in 1995. Between the 1940s and 1980s it was the largest and most important group of companies in Spain.

Important companies that were founded on the initiative of the INI are Seat , Endesa and now well-known companies in the iron, steel and aluminum production and (petro) chemical industry.

history

Periodization and classification in Spanish economic history

The history of the INI is closely linked to Spanish economic history, as throughout its existence it was an important industrial policy instrument with which the state intervened directly in the economy. To understand the history of the INI, a brief overview of the Spanish economic history, which is linked to the periodization of the INI history, is therefore helpful.

The economic historians Pablo Martín Aceña and Francisco Comín have divided the work of the INI into three phases: the foundation and growth phase from 1941 to 1963, the expansion and reorganization phase from 1963 to 1976 and the period of economic crisis and industrial restructuring in Spain, which with the dissolution of the INI ended.

In the first phase after the civil war , the Franco regime aimed on the one hand to industrialize Spain and on the other hand tried to achieve the greatest possible degree of self-sufficiency . In addition to the ideological view that the economy should be at the service of the fatherland, the self-sufficiency policy was also out of necessity in the first years after the Second World War , given the country's political and economic isolation (Spain was excluded from the Marshall Plan ) born. The INI should build the foundations of industrialization in the form of key industries, energy supply and transport infrastructure.

The self-sufficiency-oriented economic model came under increasing pressure in the second half of the 1950s, among other things because the Spanish state was approaching international insolvency and economically and socially motivated protests began to form internally. This development eventually led to the Economic Structure Act of 1959, which became known as the “Stabilization Plan”. It was drawn up by the Spanish government together with the OECD , the World Bank and the IMF and provided for an economic opening and careful liberalization of the country.

In the period that followed, the concept of development plans based on the French model dominated economic policy . In the context of the first development plan, which was formulated in 1963 by the Ministry of Industry, which was now in charge of industrial policy, and the newly created “Commissioner for Development Plans”, the INI no longer played a central role: the INI's task was to take over companies from sectors that were either private were not profitable or were unable to achieve the planned capacity expansions, for example in steel production .

With the death of Franco and the transition to democracy, the concept of development plans was abandoned. In terms of economic policy, the Transición is characterized by numerous short-term measures without sustainable concepts, which were attempts to get the severe economic crisis caused by the oil price shocks of the 1970s under control. Long-term measures that could have combated the deep structural crisis in Spanish industry were due to the political uncertainty in the last months of the Franco regime and during the transition to democracy, when Spain z. B. had no adopted constitution, not possible. The economic crisis worsened until the early 1980s. It was only after Felipe González took office as Prime Minister that the structural crisis in Spanish industry was tackled politically in an effective manner. His medium-term economic programs and industry restructuring plans were intended to make Spanish industry, which structurally still showed many features from the autarky phase, internationally competitive. In the first phase of uncertainty, the INI was increasingly forced to take over companies threatened with bankruptcy or already insolvent in order to cushion the sharp rise in unemployment. In the course of the reform policy of the González government, it was fundamentally reorganized, numerous companies were privatized and the institution itself was finally dissolved in 1995 after the remaining companies and investments were transferred to other state sponsors.

Start-up and growth phase (1941–1963)

The INI was established by a law of September 25, 1941. In Article 1 of this law, he was given the task of “ promoting and financing, in the service of the nation, the creation and revitalization of our industries, especially those seeking to solve the problems arising from deficiencies in national defense and those who are to develop our economic self-sufficiency, offering Spanish savings a safe and attractive investment. “The model was the Italian Istituto per la Ricostruzione Industriale (IRI) founded in 1933 , which Mussolini had developed into an instrument of industrialization . The INI founding law is largely a translation of the statutes of the IRI.

The INI was directly under the state and government Francisco Franco and funded in the initial phase mainly through the issuance of government-guaranteed bonds ( bonds ). With this money, the INI built up a group of self-established subsidiaries, which it managed as a holding company.

The first president of the INI was from 1941 to 1963 Juan Antonio Suanzes , a military engineer and friend of Franco's youth. He was the leading head of industrial policy throughout the first phase and organized the INI as a coordinating and planning unit that he personally directed and the executive bodies of which were the respective subsidiaries. In the years 1938/39 and from 1945 to 1951 Suanzes was also Minister of Industry for Spain. His successor in this office was his confidante Joaquín Planell , previously Vice President of the INI and in a leading position in several newly founded state-owned companies.

Suanzes and Planell strove, through the INI and the Ministry of Industry, to direct investment and production in the Spanish economy. The main goals were import substitution and increasing the domestic production of self-sufficient goods. Since there were almost no alternatives to domestic production under the existing economic system, cost efficiency, opportunity costs and market mechanisms, following the allocation of production factors compared with securing production, took a back seat. According to many authors, this reflected the engineering mentality of Suanzes, who only gave business criteria a subordinate role alongside technical feasibility.

A plan drawn up by Suanzes in 1942 envisaged the establishment of companies and the expansion of corporate ownership in six areas that spanned the entire industry. They mainly comprised branches that hardly existed in Spain, the products of which were regarded as indispensable for an industrialized country. The industries mentioned are largely characterized by high capital intensity , which makes it necessary to set up large production facilities.

  1. Based industries such as iron - and steel production, copper - as well as aluminum smelting, solid fuels , Bodenschatzprospektion ,
  2. other self-sufficient goods of first processing, including the production of liquid fuels from shale and coal , refineries of crude oil or crude oil substitute , fertilizer , chemical basic industry and the manufacture of explosives
  3. general basic technologies, especially electricity generation and expansion of the merchant navy through shipbuilding in Spanish shipyards,
  4. Sectors of the manufacturing industry that are indispensable for industrialization: machine tools , combustion engines for motor vehicles and railways , car and truck production, electrical material of all kinds,
  5. military industries for national defense: construction of tanks , warships , airplanes , torpedoes , optical devices and military communications equipment, as well
  6. Means of communication and other services such as telecommunications , railway construction, construction and operation of aircraft .

The program was never fully implemented, but was the orientation point of the extensive founding and investment activities of the INI in the first phase of its existence and shaped its corporate structure throughout its existence. In the 1940s and 1950s, mainly basic industries (metal smelting, petrochemicals), particularly important processing industries (car and truck construction) and electricity generation were built up. Some of the most important Spanish companies today, such as Seat and Endesa , were founded by the INI from this period (see below for the associated companies). The INI mobilized a large amount of capital in Spain for this purpose, in 1960 the total debt of its companies was no less than 8% of the Spanish national income .

In the early days in particular, the INI pursued uneconomical undertakings that sometimes devoured significant amounts of capital and labor. For example, attempts were made in a way that wasted resources, to adopt raw material-substituting steel and fuel production processes from the Third Reich (including synthetic gasoline from coal and oil shale ) and to promote the prestige project of a car developed independently in Spain. In the first few years, mineral prospecting was also an obsession of the INI, as the leadership around Suanzes was of the opinion that Spain's soils should contain rich deposits of all kinds, which should now benefit the national cause. This view was a late consequence of the demands repeatedly expressed in Spain since the end of the 19th century that the mineral resources (such as the pebble-sulfur mines on the Río Tinto ) should not be left to foreign investors, who have developed into a veritable ideology of "regenerationism" had. The actual successes of prospecting were rather modest in view of the expectations.

The INI's “hunger for imports” is also seen as a particular noticeable feature of this period. The state holding company, which was supposed to overcome its economic dependence on foreign countries, was heavily dependent on the import of technology, planning services and materials from abroad due to the lack of technical prerequisites when founding its company.

"Subsidiary" role among development plans (1963–1976)

After the self-sufficiency-oriented model of economic development in its pure form had come to an end in 1959, after the implementation of the stabilization and liberalization plan of 1959, a phase of so-called indicative economic planning based on the French model began in Spain from 1964. The framework for this policy was formed by so-called development plans drawn up in many countries in the 1960s , of which a total of three were drawn up in Spain by 1975 (the first plan 1964–1967, the second plan 1968–1971 and the third plan 1972–1975). The first plan was preceded by a World Bank report from 1962 on the development potential of the Spanish economy and a lecture tour by Pierre Massé , the French planning commissioner. A fourth plan for the years 1976 to 1980 failed to materialize during the political uncertainty following the assassination of Prime Minister Carrero (1973) and Franco's death (1975).

The development plans were accompanied by a new industrial policy, which gave priority to the private sector and saw the establishment of further state-owned companies only as a "subsidiary" solution in cases in which private entrepreneurship failed due to insufficient profitability or excessive risk. The incentives for the private sector were formulated within the framework of general plans that were concretized for individual sectors through concerted actions and round tables between business and state representatives. This was intended to replace the direct economic control pursued by Suanzes and Planell by "indicative", indirect intervention by the state, which consisted of setting economic incentives and joint investment and production planning by the state and private sector. Sectors that are important for industrial development should be given priority and support. The government reserved the right to direct state interventions, which the INI acted as sponsor, in the event of unsatisfactory results or a lack of interest on the part of business in the state's objectives, which should have a disciplinary effect on the private sector. For the dictatorship as a whole, the development plans also fulfilled the task of allowing the originally envisaged liberalization of the economy to proceed in a more controlled manner and significantly weakening the turn from self-sufficiency to a free market economy.

In particular, the “new” industrial policy was carried out by the Commissioner for the Development Plan, Laureano López Rodó , and his newly created authority, the “Office for Economic Coordination and Programming” (OCYPE), and the Ministry of Industry under Minister Gregorio López, who was appointed to succeed Planell Bravo . Technocratic politicians from the environment of Opus Dei , who had already shaped the economic turnaround of 1959, gained influence throughout economic policy . In addition to López Rodó and López Bravo, Finance Minister Mariano Navarro Rubio and Trade Minister Alberto Ullastres also belonged to this organization.

For the group around Suanzes and Planell, the reorientation meant a political defeat. After Planell's replacement as Minister of Industry, Suanza also resigned as President of the INI in 1963 after a continuing power struggle for Franco's favor. His successor, José Sirvent, came from the ranks of the INI and stood for continuity within the institution. However, the institute itself had clearly lost its political influence. Since 1968 the INI was no longer directly subordinate to the Spanish Prime Minister, but to the Ministry of Industry. A law had already been passed on December 28, 1958, through which the INI had to raise the funds for investments and start-ups itself on the "normal" credit market, i.e. no longer received automatic loans from the state budget or the National Bank. Nonetheless, operational losses from the ongoing business of the companies, some of which are not profitable but are regarded as indispensable for the Spanish economy, ultimately fell back on the state budget, albeit via the detour of the INI's financial problems. In addition, the INI was active in many areas in which its companies received special conditions for loans and subsidies due to the investment incentives of the development plans, so that the state holding only limited its financing in this phase - which was not fully developed in the Spanish banking sector at the time. Was subject to the rules of the free market.

At the head of the INI, Sirvent was followed in 1969 by Julio Calleja, who was replaced in 1970 by Claudio Boada , who was not a party official but a manager from the private sector.

In the interests of subsidiarity, the INI transformed in this phase primarily into a “hospital” for financially troubled companies that were unable to withstand the increased international competition resulting from liberalization. The actual aim was to reorganize these companies and run them in a manner that was compatible with the common good, but profitable, which, however, did not succeed with the companies concerned. Due to the increasing number of unprofitable companies that were "held in custody" by the INI, its financial situation and overall profitability deteriorated. A fundamental reorientation of investment activity did not take place under these conditions; the structure remained largely that of the previous phase.

At the beginning of the 1970s, the new director Boada tried to restructure the rapidly and haphazardly growing group and created a new structure with five divisions, whose subdivisions show how great the influence of the initial phase in the holding still was:

  1. Steel, metallurgy and mining
  2. Petroleum Refining, Petrochemical, Natural Gas, and Electricity
  3. Chemical, food and other first processing enterprises
  4. Processing companies (including automotive engineering)
  5. Services and Aviation.

Boada tried to restructure the company's portfolio in order to make the group more profitable and thus less burdensome for the state budget. Among other things, he merged companies and divisions operating in similar areas, for example the fertilizer factories and the oil companies.

A new World Bank report from 1972 confirmed Boda's policy and criticized the still very strong direct intervention by the state in the economy. The report recommended that the INI privatize the profitable sectors of electricity, chemicals, food and textiles and concentrate state activities on the restructuring sectors of shipyards, mining and iron and steel making. However, Boada could not prevail in the power struggles of the agonized regime and was replaced in January 1974.

Between 1974 and 1976, during the first oil crisis and in the first phase after Franco's death, there was hardly any well-planned industrial policy. The INI, which had four different presidents between 1974 and 1978, did not follow a clear course either. One attempted, among other things, to attract foreign capital for the INI companies and to strengthen its technology area. Medium- and long-term investment, production and sales planning in the company should also be introduced, but this failed, among other things, because of the inertia that was inherent in the INI as a state industrial complex and because of the lack of continuity in management.

Economic crisis and restructuring (1976-1996)

In the period between the first and second oil crises, after 15 years of strong economic growth, Spain fell into a severe economic crisis that revealed a profound structural crisis in the industry. In particular, the previously rapidly expanding, energy and capital-intensive industries such as the steel, automotive and, above all, shipbuilding industries had to be restructured in order to remain viable. Unemployment rose to over 22 percent by the early 1980s. The first governments after Franco's death were dependent on ensuring social peace and maintaining public order in a time of political upheaval. They were therefore not in a position to adopt far-reaching reform plans or to undertake restructuring measures, but instead pursued a “compensation policy” by granting subsidies to disadvantaged industries from economic development, in particular rising energy prices. In doing so, they not only burdened the national budget, but also delayed real adjustment measures.

The Spanish industry had expanded since 1960, particularly in technologically mature and energy-intensive sectors, and in international competition had specialized in areas such as shipbuilding, iron and steel production and mining. In addition, there were labor-intensive industries such as the textile and shoe industry, whose location advantages dwindled due to rising energy and wage costs in the Transición . In all of the sectors mentioned, financial difficulties for companies and rising unemployment were the result in the second half of the 1970s.

The main function of the INI at this time was to take over life-threatening private companies, to save them from bankruptcy , to maintain operations and jobs and to re-privatize them later. However, under the conditions of the economic crisis, the latter could hardly be implemented, so that the financial situation of the state holding deteriorated increasingly. In this phase, wage costs rose faster in the INI than the national average and especially in international comparison, since in Spain wage increases were linked directly to the inflation rate via a fixed formula (anchored in the Moncloa Pact, which was concluded in 1978 without the participation of the unions ) such wage increases were increased. Many of the original INI companies, as well as the "emergency nationalizations", were characterized by non-competitive or hardly competitive production methods, overcapacities due to the changed market situation and inefficient structures in administration and production.

After the adoption of the new constitution of 1978, the government of Adolfo Suárez increasingly followed the industrial policy of implementing cross-company sector restructuring plans that had already been introduced in other countries affected by the oil crisis. The INI and its troubled companies were also involved in restructuring plans. Under the new president, José Miguel de la Rica, who was appointed in 1978, it was possible to obtain a parliamentary resolution which forbade the government to oblige the INI to take over other troubled companies, as had previously often happened against the will of the institute.

As a result, the Group's investment structure changed slowly but permanently. In 1981 the oil refineries were spun off from the INI and incorporated into the new Instituto Nacional de Hidrocarburos (German National Institute for Hydrocarbons , INH). A fundamental reform of the INI was only tackled after Felipe González took office , because on the one hand González was able to govern with a solid parliamentary majority and on the other hand his party PSOE was directly linked to the most important trade union UGT . The latter made it possible to conclude agreements with the unions, which had previously made restructuring measures, which involved job cuts and wage cuts, difficult through frequent and long strikes.

Under the new González government, which let experienced managers work not only in the INI but also in the Ministry of Industry, the INI was realigned from the point of view of international competitiveness. Thus, after decades, the founding mandate aimed at national self-sufficiency was finally broken and a long-term reform of the group was planned and implemented for the first time, which should make the companies internationally competitive and align them with comparative cost advantages . The express goal was to run the company profitably.

In addition to new restructuring plans for the Spanish iron and steel industry, which is almost completely in INI hands, the shipyards and the fertilizer industry, there were extensive internal reorganizations in the INI. The companies were grouped into larger units, and more effective controlling methods were introduced. At the same time, the government pursued capacity reductions (and thus job losses) and the scaling back of investments, which from now on were reserved for companies and sectors with a view to profitability and international competitiveness. For this reason there was no further construction on the steelworks in Sagunto , although it had been in the process of modernization and expansion for more than a decade. Large groups of companies emerged within the INI by adding other companies to existing large companies.

With a view to joining the European Communities, the Spanish government pursued the goal of gradually privatizing the profitable state-owned companies and thus reducing the direct influence of the state in the economy. Companies that no longer fit into the portfolio, including emergency nationalizations from the 1970s, were sold. The most sensational privatization of this phase was that of Seat , which was sold to Volkswagen in 1986 . Some of the companies that were not classified as recoverable were closed. For the first time since the mid-1970s, INI and INH taken together have not made any permanent losses since 1986.

In 1992 those companies for whose sectors the Community law of the new European Union provided for deregulation and privatization and whose independent economic survival was ensured were spun off into the new state-owned group of companies TENEO SA. In contrast to the INI, in which the companies that were still being restructured and could not be privatized remained, TENEO was independent of the Spanish state budget.

In 1995, the Royal Decree Law 5/1995, which was formulated by Law 5/1996, created two further state institutions, the Agencia Industrial del Estado (AIE, to dt. "State Industrial Agency") and the Sociedad Estatal de Participaciones Industriales (SEPI, German "State company for industrial holdings"). INI, INH and soon also TENEO were dissolved. SEPI comprised the companies formerly owned by TENEO and the state holdings in the hydrocarbon sector (in Repsol , Enagás and Gas Natural ) which the INH had previously managed. The last companies belonging to the INI switched to the AIE, which was dissolved in 1997 by the Aznar government . The privatization policy begun in the 1980s continued into the 1990s. The SEPI still manages the holdings that remained in state hands.

Companies

Overview

During its existence until the beginning of the 1990s, the INI was the largest group of companies in Spain. As of December 31, 1985, the 63 companies in which the INI held the majority had 187,000 employees (not including Seat). Their turnover in 1987 was 1,573 billion pesetas (then about 22.8 billion marks). In terms of its size, it was comparable to European companies such as Thyssen , Imperial Chemical Industries (ICI) or Compagnie de Saint-Gobain .

In the following, the most important of the companies founded or taken over by the INI are listed and their development is outlined. The illustration shows that the INI was at least temporarily involved in large parts of the Spanish industry.

Some of the most famous Spanish state companies were not part of the INI. The Renfe railway company was under the Ministry of Transport, while the oil monopoly Campsa , the tobacco monopoly Tabacalera (now part of Altadis ) and the lottery company Lotería Nacional (now Loterías y Apuestas del Estado ) were under the control of the Ministry of Finance.

Mining

Headframe of the Hunosa coal mine "Santiago" in Aller (2006) (Photo: José Luis Martínez Alvarez )
Ruin of the "Planta Denver" factory in Rodalquilar (2008)

In order to pursue the goal of developing and using Spanish mineral resources, the Empresa Nacional Adaro de Investigaciones Mineras, SA ( ENADIMSA for short , also ENA and Adaro ) was founded in 1942, which undertook extensive geological investigations and prospecting for natural resources. In addition to the Spanish soil, this company also explored the phosphate deposits in Spanish Morocco , today's Western Sahara . Separate mining companies or mining consortia, in which ENADIMSA was involved in many cases, were then established for the purpose of mining. The company name is reminiscent of Luis Adaro Magro (1849–1915), a Spanish mining pioneer. Among other things, ENDAIMSA operated the Planta Denver gold mine in Rodalquilar until 1966 , the ruin of which was used as a film set for numerous films after its closure.

The most well-known company of the INI in the mining sector is the mining company Hulleras del Norte, SA ( Hunosa ) founded in 1967 , which was set up to operate hard coal mines in Asturias that were no longer profitable for the private sector . Hunosa still exists today and is part of the company portfolio of INI's successor SEPI.

Energy and gas supply

In 1944 the INI founded the Empresa Nacional de Electricidad, SA (Endesa, dt. "National Electricity Company"). Endesa started out as an energy producer and built a power plant in Ponferrada in the province of León in the 1940s and 1950s . In the 1970s, it took over numerous other energy producers and suppliers in crisis, most of whom had acted as private companies on a regional level. In addition, conventional power plants were built in As Pontes (La Coruña Province), Escatrón (Saragossa Province) and Carboneras (Almeria Province) and the Ascó nuclear power plant in the Tarragona Province. Endesa also operated various hydropower plants.

As part of the restructuring and consolidation of the INI in 1983/84, the Endesa Group was created, which also includes INI's holdings in regional electricity producers and suppliers such as Enher (Ribagorzana hydropower plant, founded by INI in 1943), Gesa ( Gas y Electricidad , SA , founded by INI in 1943), Unelco (energy supplier to the Canary Islands ), the traditional company Sevillana de Electricidad (Andalusia) , which was taken over in 1968, and the mining company Encasur . Endesa has been gradually privatized since 1988 and is now a private company.

In 1972 INI founded Enagás ( Empresa Nacional de Gas ) for the construction and operation of a gas pipeline within Spain for the transport of gas mainly obtained from Algeria. It went up in 1981 together with the other gas and oil holdings in the Instituto Nacional de Hidrocarburos . The majority of Enagás, which is part of the IBEX 35 share index, initially held Gas Natural after privatization , which has since reduced its stake to around 5%. Butano, SA (Butanosa), founded in 1957 as a joint venture between INI and Campsa for the production and filling of butane gas into the orange containers that are very common in Spain , was merged into the INH. Today it is part of Repsol YPF as Repsol Butano (see below).

Petroleum industry

The petroleum market in Spain had been characterized since 1927 by the monopoly over the import, extraction, processing and distribution of petroleum products transferred to Campsa , a private company with state participation. There were private companies only in the Canary Islands, for which the monopoly did not apply and where Cepsa had been operating a refinery on Tenerife since 1930 .

The INI intervened in the oil industry in 1942 when it was given a decree to found a company to produce hydrocarbons from oil shale and lignite . The Empresa Nacional Calvo Sotelo de Combustibles Líquidos y Lubricantes ( Encaso for short , 1942), named after José Calvo Sotelo , devoted itself to this task from 1942. For this, technology from the Third Reich was mainly used . The extremely expensive prestige company ultimately did not lead to success and was abandoned.

Petrochemical complex in Puertollano (2005)

Instead, the establishment of conventional oil refineries was pursued, which began in 1949. By 1972, four refineries had been built in Escombreras near Cartagena , in La Coruña, in Puertollano near Ciudad Real and in Tarragona , in whose operating companies Repesa, Petrolíber, Encaso and Entasa the INI each had a stake of more than 50%. The know-how usually came from foreign companies such as Caltex and Ohio Oil and from the private Cepsa .

Around the refinery in Puertollano , which was completed in 1965 , Encaso built a petrochemical industrial complex with its own power station, which was long considered the "Spanish bitter field ".

The above-mentioned oil companies Encaso, Entasa and Repesa were combined in 1974 in the Empresa Nacional de Petróleo (Enpetrol, German "State company for petroleum"), in which the INI held over 70%.

In the field of oil prospection, INI's own mineral resource prospecting company ENADIMSA was originally active, mostly together with a subsidiary of Cepsa. In 1960 the INI founded two special oil prospecting companies for Aragon and Navarre , which in 1976 were merged into the Empresa Nacional de Investigaciones de Petróleo, SA (Eniepsa, to dt. "State company for petroleum research"). In 1965, Hispánica de Petróleos, SA (Hispanoil) was established as an oil prospecting company for the rest of Spain and Spanish Morocco . After expanding the stake, it becomes a 100% subsidiary of INI in 1972.

By law 8/1981 of April 24th, the Instituto Nacional de Hidrocarburos (INH, dt. "State Institute for Hydrocarbons") was founded to manage part of the INI holdings . Petrolíber, Hispanoil, Enpetrol, Eniepsa and Petronor and the gas companies Enagas and Butanosa were spun off from the INI. Campsa and Petronor, which had been running a refinery in Bilbao since 1970, also became part of the INH. The Repsol Group was founded in 1987 from the oil companies of INH and Butanosa , which has been gradually privatized since 1989.

Metal production

ENSIDESA steel mill in Avilés (2006)
Photo: Procsilas Moscas

The iron and steel production company Ensidesa (abbreviation for Empresa Nacional Siderúrgica SA , dt. "National Steel Production Company") was founded in 1950 and built an integrated steel and rolling mill in Avilés in Asturias . In 1971 the company was merged with Uninsa , the third largest national steel producer, which the INI had taken over in 1966. The steelworks in Sagunt , which had been modernized since 1971 by the private companies United Steel and Altos Hornos de Vizcaya , was transferred to the INI after a drop in demand in 1978; In the traditional Spanish steel producer Altos Hornos de Vizacaya (AHV) itself, the INI only made a symbolic contribution as part of industrial-political restructuring programs. In 1994 the Corporación Siderúrgica Integral (CSI, German “Integrated Steel Cooperation”) was founded as part of the Plan de Competitividad Conjunto AHV - Ensidesa (German: “Competitiveness Plan AHV-Ensidesa Complex”) , which covers the profitable parts of AHV and Ensidesa was incorporated into Aceralia in 1997, which after (re-) privatization now belongs to Arcelor Mittal .

The aluminum producer Endasa (actually Empresa Nacional de Aluminio, SA ), which was founded in 1943 and also had a large plant in Avilés, was one of the companies built up during the autarky phase . In 1978, Endasa took over the second largest Spanish company in its sector, Alcan Aluminio Ibérica (not to be confused with a company that was founded in 1989 as part of the reprivatisation and has been called ALCAN Aluminio España since 2001). In the course of the restructuring in 1984, the aluminum activities were brought together in Inespal , which still exists today and belongs to Alcoa .

Vehicle and aircraft construction

Seat 600

In 1940, the production of automobiles was one of the first two sectors to be declared an “industry of national interest” eligible for support under a new law. But it took ten years for a company to produce cars in Spain: In 1951 the INI, Spanish banks and Fiat founded the Sociedad Española de Automóviles de Turismo ( Seat ). Seat had a sales share of over 50% on the market, which was almost completely protected from foreign competition by customs barriers and very tight import quotas until 1976 . The INI took over the majority in Seat in 1980 after Fiat wanted to sell its stake. In the course of the restructuring and re-privatization, Seat was the first major INI to be founded in 1986, the majority of which was sold to a private company, Volkswagen AG .

As early as 1946, the INI founded Empresa Nacional de Autocamiones, SA ( Enasa ), a truck manufacturer. Enasa was established on the basis of the prestigious Spanish automobile manufacturer Hispano-Suiza, which had previously been taken over by the state . His products carried the Pegaso brand and also dominated the market in Spain during the Franco regime. Hispano-Suiza had produced sedans and sports cars for high demands. As part of Enasa, an attempt was therefore made to gain international recognition with high-class, independent sports cars from Spanish production. This very expensive and unprofitable project, which seemed anachronistic in view of the critical supply situation in all areas in the Spanish post-war period, was discontinued in 1958 after fewer than 100 vehicles had been produced. Enasa has been part of Iveco since privatization in 1990 , which continues the Pegaso brand in Spain.

The national company for aircraft engines ENMASA also belonged to the INI and was built up on a private company ( Elizalde ) taken over in 1951 . It has also manufactured diesel engines for motor vehicles since 1959 and has been producing Mercedes-Benz small vans for the Spanish market since 1963 . In 1968 it merged with the Mercedes importer IDASA and in 1972 with the DKW license producer IMOSA to form Compañía Hispano Alemana de Productos Mercedes-Benz y Volkswagen (MEVOSA, to German "Spanish-German Society for Mercedes-Benz and Volkswagen Products") . INI held it 24%. In 1976 Daimler Benz and the INI took over the shares that VW had held in the company, in 1980 Daimler Benz took over the majority in the company after expanding its stake to 52%, which was renamed Daimler Benz España in 1981 .

In aircraft construction, the INI gradually took over the aircraft manufacturer Construcciones Aeronáuticas SA (CASA) from 1943, which manufactured combat aircraft under license from Junkers and Heinkel and repaired the aircraft of the Franco war party during the civil war. CASA also produced civil aircraft for passenger transport. In 1971 it joined the Airbus consortium; In 1972 it took over Hispano Aviación SA, the former aircraft division of Hispano-Suiza. CASA, which was partially privatized, has been part of EADS since 2000 . The INI successor organization SEPI still holds a share of 5.5%.

Shipyards

Shipyards in Ferrol (2005)

The INI's first shipyard was the Empresa Nacional Bazán, built in 1943 in Franco's and Suanze's hometown of Ferrol , which produced warships.

The civil shipyard sector in Spain, which had had very little production potential since the mid-1950s prior to a ten-year merchant fleet renewal program, experienced rapid and strong growth in the late 1950s and particularly the 1960s.

The INI's first civil shipyard was the Astilleros de Cádiz in Cádiz , which was confiscated from the original owner in 1950 and transferred to the INI in 1951 in an agreement . The company was modernized and mainly manufactured transport ships for the shipping company Elcano, which also belongs to the INI, and oil tankers for the Spanish oil industry. In 1965, the two shipyards of Elcano were incorporated into the Astilleros de Cádiz. The new company was the largest in Spain.

As part of the development plans, a concerted action for the Spanish shipyards was called in 1967, which in 1969 led to the establishment of the joint venture Astilleros Españoles (AESA; German "Spanish Shipyards"), in which the three large civilian shipyards Astilleros de Cádiz , Euskalduna and Sociedad Española de Construcción Naval were united. In 1972 INI took over the majority of the Astilleros y Talleres del Noroeste (ASTANO) shipyard in Ferrol , which became part of AESA. In 1976 the INI took over the financially ailing Astilleros de Cartagena . In the late 1970s, AESA and its sub-companies became 100% owned by INI. Acquisitions and emergency nationalizations made AESA the fourth largest shipbuilding company in the world between 1969 and 1983.

Economically, AESA, which was particularly hard hit by the shipyard crisis due to its specialization in super tankers and bulk carriers , was one of the most endangered companies in the state holding company and has been the subject of restructuring plans since 1976. It remained in the SEPI portfolio even after 1995. In 2000 it was merged with the military shipyards (including Bazán) in the new company IZAR , which was split into two again in 2005. The military part will continue to exist as Navantia , while the civil part, which continues to be called IZAR, is currently in liquidation .

Other companies and activities

In addition to the sectors mentioned, which were the main investment areas of the INI, it was also active in numerous other sectors.

Large parts of the Spanish fertilizer sector were part of the INI, including since 1942 the large Sociedad Ibérica del Nitrógeno . From the consolidation of various INI possessions, the Empresa Nacional de Fertilizantes, SA (Enfersa, dt. "State company for fertilizers") was created in 1972 . It was privatized at the end of 1989 and now belongs to the Villa Mir group as part of Fertiberia .

Despite its name, the INI was not only involved in industry but also in the field of services. It was the majority shareholder of state banks, founded the leading Spanish maritime transport company Empresa Naviera Elcano and the car rental company ATESA . The INI was also active in air transport. It had been the majority owner of Iberia since 1943 and founded Aviaco in 1954 , particularly for national air transport. In 1999 Aviaco Iberia was incorporated. The Spanish state news agency EFE has also been part of the INI since the 1970s.

In the interests of subsidiarity, new technologies in the field of information technology became a new priority area of ​​the INI in the 1970s , as Spanish companies were hardly active here due to the risk. With Eria (actually Estudios y Realizaciones de Informática Aplicada ) a separate software development company was founded in 1973, in 1974 the INI got a department for electronics and IT. In the period that followed, further research and technology companies were founded. Eria merged into Indra Sistemas .

In order to develop industrially backward parts of Spain, the INI founded regional development companies for Galicia, Andalusia, the Canary Islands, Extremadura, Castile-León, Castile-La Mancha and Aragon in the 1970s and 1980s.

In 1964 the INI established a foundation for the promotion of studies and science , which was initially called Fundación Santa María del Espíritu Santo and in 1976 it became Fundación del INI (in German: "INI Foundation") and in 1982 in Fundación Empresa Pública (in German "Foundation Public Enterprises ”) has been renamed. Since 2002 it has been called Fundación SEPI (German "SEPI Foundation"). It awards scholarships, maintains a student residence at the Complutense University of Madrid, and promotes research in economics and economic history. It also publishes the economic journal Investigaciones Económicas .

President

  • Juan Antonio Suanzes (1941–1963)
  • José Sirvent (1963-1969)
  • Julio Calleja (1969-1970)
  • Claudio Boada (1970–1974)
  • Francisco Fernández Ordóñez (1974)
  • Juan Carlos Guerra Zunzunegui (1974–1975)
  • José Miguel Antoñanzas (1975–1977)
  • Francisco Giménez Torres (1977–1978)
  • José Miguel de la Rica (1978-1981)
  • Carlos Bustelo (1981-1982)
  • Enrique Moya (1982-1984)
  • Luis Carlos Croissier (1984–1986)
  • Claudio Aranzadi (1986–1988)
  • Jordi Mercader (1988-1990)
  • Javier Salas (1990-1995)

literature

swell

Secondary literature

General:

  • Juergen B. Donges : La industrialización de España. Políticas, logros, perspectivas . Oikos-Tau, Barcelona 1976, ISBN 84-281-0257-0 .
  • Sima Lieberman, Growth and Crisis in the Spanish Economy. 1940-1993 . Routledge, London / New York 1995, ISBN 0-415-12428-X .
  • Gabriel Tortella: The Development of Modern Spain. An Economic History of the Nineteenth and Twentieth Centuries . Harvard University Press, Cambridge MA 2000, ISBN 0-674-00094-3 .

Special literature:

Web links

Individual evidence

  1. ^ Pablo Martín Aceña, Francisco Comín: INI. 50 años de industrialización en España . Espasa Calpe, Madrid 1995; compare also Elena Laruelo Rueda: Los fondos históricos del INI. Fuentes para el estudio de la empresa public industrial . (PDF; 139 kB) January 2005. Laruelo is the director of the documentation center (INI archive) of the SEPI.
  2. ^ Memoria Anual des INI, used after Pablo Martín Aceña, Francisco Comín: El Instituto Nacional de Industria: Inversion industrial y especialización sectorial . In this. (Ed.): Empresa pública e industrialización en España . Alianza Editorial, Madrid 1990, pp. 117-136, here: pp. 128-130.
  3. ^ Number according to Gabriel Tortella: The Development of Modern Spain. An Economic History of the Nineteenth and Twentieth Centuries. Harvard University Press, Cambridge / Mass. 2000, p. 324.
  4. ↑ For the development plans, see Ramón Tamames: Los Planes de Desarrollo (1964–1975) . In: Información Comercial Española No. 676-677, December 1989 / January 1990, pp. 57-65.
  5. ^ Julio Gracía Fernández: Política empresarial pública 1973–1988 . In: Pablo Martín Aceña, Francisco Comín (ed.): Empresa pública e industrialización en España . Alianza Editorial, Madrid 1990, pp. 217–250, here: p. 222.
  6. ↑ José Manuel García Hermoso: El presente de la empresa pública industrial. El Grupo INI . In: Pablo Martín Aceña, Francisco Comín (ed.): Empresa pública e industrialización en España . Alianza Editorial Madrid, 1990, pp. 189–215, here: p. 198, with reference to rankings published in various Spanish magazines. For comparison: The turnover of the second largest group, the Repsol Group, amounted to 890 billion ptas, that of the largest private company El Corte Inglés 396 billion ptas. and that of the recently privatized Seat 335 billion Ptas.
  7. ↑ A chronology of the petroleum industry in Spain, which was also used here, can be found in Comisión Nacional de Energía, Cronología del sector petrolero español . ( Memento of the original from September 27, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 297 kB) Madrid, November 2003. @1@ 2Template: Webachiv / IABot / www.cne.es
  8. ↑ The illustration follows the website of Mercedes-Benz España, Evolución historica , accessed on September 29, 2006.
  9. ↑ Ansgar Eußner: Industrial policy and southern expansion of the EC using the example of the shipyard industry. Writings of the German Development Institute , Volume 72, Berlin 1983, ISBN 3-88985-025-1 , p. 132.
  10. ↑ The story of Enfersa can be read in Spanish on the following website: José María Urbano: Presente y futuro de los fertilizantes en el Principado . ( Memento of the original from February 11, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. In: El Comercio Digital , June 4, 2001 (Digital edition of the Comercio de Gijón ). For information on privatization and the framework conditions, see also the decision of the European Commission of January 31, 2001 on state aid implemented by the Member State Spain in favor of the Fesa-Enfersa group (Fertiberia) (file number K (2001) 324; German). @1@ 2Template: Webachiv / IABot / canales.elcomerciodigital.com
  11. ↑ The presentation follows the presentation of the Fundación SEPI on its homepage, accessed on September 29, 2006.
This version was added to the list of articles worth reading on June 7, 2007 .