The Basque Government, ready to enter ITP Aero with SEPI | Companies

The Basque Government is willing to enter the capital of ITP Aero together with SEPI to guarantee the “local and industrial” roots of the Rolls-Royce subsidiary, which has put it up for sale for some time. Arantxa Tapia, Minister of Economic Development, Sustainability and Environment of the Executive of Vitoria, has recognized that he works together with the Ministry of Industry to achieve this “continuity” and the future of a company that needs continuous investments in development to consolidate its growth .

Both governments do not want the sale of ITP Aero to remain within the scope of investment funds, which have a limited period of permanence in their investees to achieve maximum performance. Tapia has indicated that he has spoken with “companies and families of investors” to try to bring them closer to ITP Aero.

Conversations that in some cases have been “positive” and in others have not aroused “interest in participating” in the manufacturer of low pressure aeronautical turbines, which is based in Zamudio (Bizkaia). It was the first company in this sector in the Basque Country, when it started its activity more than a quarter of a century ago.

Tapia did not identify these possible investors, although there have been contacts with Sener, Gestamp and CAF, which is owned 1.24% by the Basque Government. The Vitoria Executive also welcomes a sectoral concentration, which would include ITP Aero itself and the Aernnova corporation, also based in the Basque Country. And to Aciturri, with facilities in the Basque Country and headquarters in nearby Miranda de Ebro (Burgos). Aciturri controls another company in the sector, Alestis, in which SEPI participates.


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