The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Cartagena (Murica) and Muskiz (Vizcaya, Vasque Country)
Sector
Manufacturing Manufacture of coke and refined petroleum Manufacture of coke and refined petroleum products 19.2 - Manufacture of refined petroleum products and fossil fuel products
370 jobs Number of planned job creations
Announcement Date
18 November 2005
Employment effect (start)
Foreseen end date
Description
Ths spanish Consortium Rpsol-YPF specialised in refined petroleum products will launch an industrial plan investing €3,2 million. This plan will increase refining capacity of the plants of Cartagena ( Murcia) and Muskiz (Vizcaya, Vasque Country). Some €2,1 million will be invested in Cartagena and €600 million will be invested in the Muskiz plant. The measure will increase the total labour by 10% (i.e. 370 workers). Tha major reason has been the fact that Spain imports 12 million tons of fuel, a 34% of the consumption due to an increase of diesel motor vehicles.
Sources
18 November 2005: El País
Citation
Eurofound (2005), Repsol YPF, Business expansion in Spain, factsheet number 62529, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62529.
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