SPAIN: INTERVIEW WITH MR. LOPEZ DE ARRIORTUA

Article Abstract:

Mr. Jose Ignacio Lopez de Arriortua, former vice-president of GM in 1992 and part of the management staff of VW, has confirmed his plans to set up a new car producer in 1999. On November 1st 1999, the first model of his 'Carmen' range will come out from the Setubal-based factory (Portugal), abandoned by Renault some years ago. The total amount of re-starting the activity at Setubal is Pta 50,000mn (of which Pta 31,000mn from unnamed partners). The Portuguese government has not given its authorization yet. Mr. Lopez de Arriortua has also forecast that the Portuguese facility will employ nearly 4,500 workers and will produce 300,000 vehicles in the year 2001. After Setubal, plans are to invest Pta 300,000mn in the construction of a facility in Amorebieta, Basque Country (where Mr. Lopez de Arriortua is born). On November 1st 2001, the first car is expected to be assembled here. This project is completely supported by the Spanish regional government. During the years 2002 and 2003, other cars will be produced in Brazil and India. When all the factories will be operative, a total of 1.2mn Carmen cars will be produced every year world-wide. The Spanish flagship department store El Corte Ingles is said to be the exclusive dealer for the Spanish market. Prices of the new cars, similar to Audi A3, Audi A4, an 4X4 and a convertible car, will be between Pta 1.5mn and Pta 2.5mn.

Automobiles, Automobile Manufacturing, Automóbiles

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SPAIN: EXPANSION PROJECTS OF GESTAMP

Article Abstract:

Spanish holding Corporacion Gestamp aims to post Pta 306,000mn sales in 2000 and reach Pta 500,000mn sales in 2005, when exports are expected to total 50% of turnover. Corporacion Gestamp is formed by car components firm Gestamp Automocion (35% of sales are exports), steel producer Gonvarri, and steel selves and storage equipment producer Esmena, acquired in 1999. Plans for Esmena include focusing in development of large storage facilities (32 m high) to be mainly addressed to Internet companies in Spain, Portugal, Italy and France. Outlook for Esmena's turnover is to expand from Pta 14,000mn in 2000 (+40% on 1999) to Pta 30,000mn in 2005. Corporacion Gestamp will address Pta 2,500mn of its Pta 45,000mn investments of 2001 to Esmena in order to build new factories in US and Brazil. Some Pta 30,000mn are planned to be addressed to Gestamp Automocion, which registers 71.7% of sales as supplier of Volkswagen, Renault, and Peugeot Citroen. New resources will be invested in US, Eastern Europe, Germany, Turkey and South America, as well as in Spain, where Pta 6,000mn will finance the construction of a factory to supply Citroen in Vigo (Galicia). Gonvarri, which sells 20% of steel sheets marketed in Spain, will carry out Pta 12,500mn investments, of which Pta 8,500mn to set up a factory in Sao Paulo. Corporacion Gestamp owns 6.67% shares of Spanish steel producer Aceralia.

United States, Motor vehicle parts and accessories, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Material Handling Equipment Manufacturing, Construction and Related Machinery, Fabricated plate work (boiler shops), Materials Handling Equip NEC, Fabricated Platework, Plate Work Manufacturing, Automotive parts, Materials handling equipment, Platework

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PORTUGAL: SONAE'S EXPANSION PLANS

Article Abstract:

In the year 2000, Portuguese real estate group Sonae will allocate Pta 20,000mn in order to build three shopping and leisure centres in Madeira, Sintra and Algarve (Portugal). But its expansion plans include also to break into foreign markets. In Spain, in a three years term, it expects to invest Pta 30,000mn, which will be destined to build 10 shopping and leisure centres. In order to enter into German market, it has recently signed an agreement with German bank Westdeustche InmobilienBank. At European level, Sonae is considering to break into Greek and Italian markets. On the other hand, in Brazil, Sonae jointly with Brazilian real estate group Enplanta Engenharia, operates four shopping centres. In 1999, Sonae registered Euro 127.1mn sales; and Euro 15.2mn profits. At present, it operates 893.000 m2 in shopping centres in Portugal.

Italy, Greece, Germany, Store Buildings, Commercial and Institutional Building Construction, Real Estate Agents, Brokers, Managers, Real Estate, Real estate agents and managers, Nonresidential construction, not elsewhere classified, Store construction, Real estate agents, Real estate management, Industria e Investimentos S.A.

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