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Instituto Nacional de Industria (INI, National Institute of Industry) was a Spanish state-owned financing and industrial holding company established in Francoist Spain for the development of industry and social control. It was succeeded by the Sociedad Estatal de Participaciones Industriales (SEPI) in 1995.
The INI was established on 25 September 1941 [1] with a starting capital of fifty million pesetas. It aimed to promote the development of Spanish industry and the self-sufficiency of the Spanish economy. [2] It aimed to overturn the effects of the devastation caused by the Spanish Civil War by carrying out in Spain the functions that the Istituto per la Ricostruzione Industriale (IRI) had in Italy.
Despite its inefficiencies, INI was instrumental in moving the mostly underdeveloped primary-sector-focused closed Spain of the 1940s to the booming Spain of the 1960s and early 1970s of the so-called Spanish miracle. To achieve its goal, INI either financed on its own or directed private funds to the creation of the country's fundamental industries under the spirit of the national interest and autarky. Although its first acts ended in failure (e.g., Adaro), INI soon turned itself into the biggest industrial conglomerate of Spain.
INI included a broad range of companies, from heavy and basic industries to "soft" services, most of them with E.N., standing for Empresa Nacional (National Corporation), in their names. Among them were: Ensidesa (Empresa Nacional Siderúrgica S.A.)–Aceralia (steel), Enasa (Empresa Nacional de Autocamiones S.A.)–Pegaso (trucks), SEAT (Sociedad Española de Automóviles de Turismo) (cars), INH (Instituto Nacional de Hidrocarburos)–Repsol (Refinería de Petróleos de Escombreras Oil) (oil and gas), ENCE (Empresa Nacional de Celulosas de España) (cellulose, biofuels), [3] ENDASA (Empresa Nacional de Aluminio S.A.) (aluminium), Endesa (Empresa Nacional de Electricidad S.A.) (power), ENFERSA (Empresa Nacional de Fertilizantes S.A.) (fertilizers), E.N. Calvo Sotelo (petrochemicals), E.N. Bazán–ASTANO (Astilleros y Talleres del Noroeste)–Navantia (naval shipyards), Aesa (non-military shipyards), E.N. Santa Bárbara (weapons), E.N. Elcano (merchant shipping line), ATESA (Autotransporte Turístico Español S.A.) (tour operator), ENTURSA (Empresa Nacional de Turismo S.A.) (tourism) and others.
INI also assisted mergers and integration, including of private enterprises, like the airlines Iberia (Iberia Líneas Aéreas de España S.A.) and Aviaco (Aviación y Comercio), and the aircraft manufacturer CASA (Construcciones Aeronáuticas S.A.). It absorbed failed companies in order to service debt, among other purposes. In the mid-to late 1970s, HUNOSA (Hulleras del Norte S.A.), a large Asturian coal mining conglomerate, and Compañía Transatlántica Española (CTE) were among the non-functional companies that were integrated into the Instituto Nacional de Industria. [4]
However, there were other Spanish state owned companies such as SEAT S.A (Sociedad Española de Automóviles de Turism)(car manufacturer), Campsa (Compañía Arrendataria del Monopolio de Petróleos S.A.) (gasoline stations), RENFE (Red Nacional de los Ferrocarriles Españoles) (railways), Tabacalera (tobacco), or Telefónica (Compañía Telefónica Nacional de España) (telecommunications) which were never under INI's control.
In the 1980s, when the Spanish economy was fully opened to international trade and joined the European Economic Community, INI lost its reason to exist. Most of its companies were privatized in the 1980s and early 1990s. In this process, ENSIDESA was taken over by Arcelor, SEAT by Volkswagen Group, ENASA by Iveco, Calvo Sotelo by Repsol, and so on. Others, including ENDESA and Iberia, have kept their independence.
In 1992 INI was entitled to create a new holding company (Sociedad Anónima) over which it would pass all shares owned in every company's capital it had still participated. The new company named TENEO, which was founded on July 4 of the same year, is now called Sociedad Estatal de Participaciones Industriales (SEPI) and has practically disposed the totality of its owned shares with the exception of HUNOSA and a few other industries. In 1995 the INI was abolished. [5]
The chairmen of the INI are as follows: [1]
Sociedad Estatal de Participaciones Industriales (SEPI) is a Spanish state holding company that is characterized as a Sovereign wealth fund. It is controlled by the Ministry of the Treasury.
Iberia, legally incorporated as Iberia Líneas Aéreas de España, S.A. Operadora, Sociedad Unipersonal, is the flag carrier of Spain. Founded in 1927 and based in Madrid, it operates an international network of services from its main base of Madrid–Barajas Airport. Iberia, with Iberia Regional and with Iberia Express, is a part of International Airlines Group. In addition to transporting passengers and freight, Iberia Group carries out related activities, such as aircraft maintenance, handling in airports, IT systems and in-flight catering. Iberia Group airlines fly to over 109 destinations in 39 countries, and a further 90 destinations through code-sharing agreements with other airlines.
ENASA was a Spanish motor vehicle manufacturing company that was incorporated in 1946 after having bought the automotive assets of the Spanish Hispano-Suiza and the Italian Fiat in Spain. It produced trucks, buses and military armored vehicles under the Pegaso and, for a short while, Sava brands. ENASA belonged to INI, a Spanish state-owned industrial holding company.
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Transeuropa was a charter airline from Spain that operated from 1965 until 1982.
Compañía Transatlántica Española, S.A., also known as the Spanish Line in English, was a passenger ocean line that has largely ceased operations although it still exists as a company. It is popularly known as "La Trasatlántica" in the Spanish language.
In 2015 Spain produced 2.7 million cars which made it the 8th largest automobile producer country in the world and the 2nd largest car manufacturer in Europe after Germany. The forecast as of 2016 was to produce a total of 2.8 million vehicles from which about 80% is for export. During the first half of 2016, with exports valued over 24 billion euros over that period, the automotive industry accounted for 18.9% of the total Spanish exports.
EmpresasCMPCS.A. is a Chilean pulp and paper company, headquartered in Santiago, Chile. It is the largest paper manufacturer in the country; and one of the biggest companies worldwide according to Forbes Global 2000's ranking in 2023, with $1B in profits in 2023.
The Compañía Sevillana de Electricidad, S. A. was a Spanish electricity generation company, founded in Seville in 1894. In the course of the 20th century it absorbed various other companies and came to be practically the sole generator of power in Andalusia. Beginning in 1996, it underwent the first of several stages in the process of being merged into the multinational corporation Endesa, becoming known as Sevillana-Endesa. That process was completed in 2002.
Renault España Sociedad Anónima, also known by its acronym RESA, is one of the largest manufacturing subsidiaries of Renault. The Spain-based company has facilities in Valladolid, Palencia and Sevilla, with most administrative offices in Madrid. Renault sells its cars locally through the subsidiary RECSA. The company emerged from the local automaker FASA, which had assembled Renault cars since 1953.
Compañía de Líneas Aéreas Subvencionadas, meaning 'Subsidized Airlines Company', mostly known as CLASSA, was a Spanish airline based in Madrid, Spain.
Juan Antonio Suanzes Fernández was a Spanish naval engineer. Before the Spanish Civil War (1936–1939) he directed a shipyard. During the civil war he offered his services to the Nationalist side, and was made Minister of Industry and Commerce from 1938 to 1939. He was again Minister of Industry and Commerce from 1945 to 1951.
Mequinenza Dam is a concrete gravity dam in the province of Zaragoza, Spain. It impounds the Ebro creating a large reservoir, which is called Mar de Aragón. About 35 km downstream of Mequinenza dam is Ribarroja dam.
Ribarroja Dam is a concrete gravity dam located in the province of Tarragona, Spain, that impounds the Ebro. About 35 km upstream of Ribarroja dam is Mequinenza dam. About 15 km downstream is Flix dam.
Altos Hornos del Mediterráneo S.A. (AHM) was a Spanish ferrous metallurgy company incorporated in 1971 to operate the integral ferrous metallurgy in Sagunto, known as the 4th Integral Ferrous Metallurgy Plant of Spain. At the time of its creation, it inherited the historical facilities that Altos Hornos de Vizcaya had owned in Sagunto since the beginning of the 20th century. However, the company's activity was strongly affected by the industrial crisis that the country experienced in the 70's and 80's, so that in 1984 the public administration agreed to cease its operations.
Sociedad Minera y Metalúrgica de Peñarroya, usually abbreviated as SMMP, was a French-owned multinational mining company that operated between 1881 and 1989. During its existence it had an important presence in Spain.
Sociedad Española de Construcciones Electromecánicas, colloquially known as "electro", was a Spanish company in the non-ferrous metals industry that operated between 1917 and 1978. Throughout its existence it was one of the most important Spanish companies in the copper sector, having its main activity in Córdoba. Among its products were copper products, brass, electrical transformers, etc.
