Instituto Nacional de Industria (INI, National Institute of Industry) was a Spanish

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

financing and industrial holding company established in

Francoist Spain Francoist Spain ( es, España franquista), or the Francoist dictatorship (), was the period of Spanish history between 1939 and 1975, when Francisco Franco ruled Spain after the Spanish Civil War with the title . After his death in 1975, Spai ...

for the development of industry and social control. It was succeeded by the

Sociedad Estatal de Participaciones Industriales ''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. SEPI was preceded by the Instituto Nacional de Ind ...

(SEPI) in 1995.

History

The INI was established on 25 September 1941 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. It aimed to overturn the effects of the devastation caused by the

Spanish Civil War The Spanish Civil War ( es, Guerra Civil Española)) or The Revolution ( es, La Revolución, link=no) among Nationalists, the Fourth Carlist War ( es, Cuarta Guerra Carlista, link=no) among Carlists, and The Rebellion ( es, La Rebelión, lin ...

by carrying out in Spain the functions that the

Istituto per la Ricostruzione Industriale The Istituto per la Ricostruzione Industriale (IRI; English: "Institute for Industrial Reconstruction") was an Italian public holding company established in 1933 by the Fascist regime to rescue, restructure and finance banks and private companies ...

(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 The Spanish miracle ( es, el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, from 1959 to 1974, in which GD ...

. 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 Aceralia was a large Spanish steel producer formed in 1997 by restructuring of a group formed from earlier mergers of the steel producers ENSIDESA and ''Altos Hornos de Vizcaya''. The company merged into Arcelor in 2001, and became part of Arcelo ...

(steel),

Enasa ENASA (Empresa Nacional de Autocamiones S.A.) 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, ...

(Empresa Nacional de Autocamiones S.A.)–

Pegaso Pegaso (, "Pegasus") was a Spanish manufacturer of trucks, buses, tractors, armored vehicles, and, for a while, to train apprentices, and have a good brand image, some sports cars. The parent company, Enasa, was created in 1946 and based in the ...

(trucks),

SEAT A seat is a place to sit. The term may encompass additional features, such as back, armrest, head restraint but also headquarters in a wider sense. Types of seat The following are examples of different kinds of seat: * Armchair (furniture), ...

(Sociedad Española de Automóviles de Turismo) (cars), INH (Instituto Nacional de Hidrocarburos)–

Repsol Repsol S.A.
El Nuevo Herald, 2012-05-31Originally an init ...

(Refinería de Petróleos de Escombreras Oil) (oil and gas), ENCE (Empresa Nacional de Celulosas de España) (

cellulose Cellulose is an organic compound with the formula , a polysaccharide consisting of a linear chain of several hundred to many thousands of β(1→4) linked D-glucose units. Cellulose is an important structural component of the primary cell wall ...

biofuel Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...

s), ENDASA (Empresa Nacional de Aluminio S.A.) (aluminium),

Endesa Endesa, S.A. (, originally an initialism for ''Empresa Nacional de Electricidad, S.A''.) is a Spanish multinational electric utility company, the largest in the country. The firm, a majority-owned subsidiary of the Italian utility company Enel, ...

(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 Navantia is a Spanish state-owned shipbuilding company, which offers its services to both military and civil sectors. It is the fifth-largest shipbuilder in Europe and the ninth-largest in the world with shipyards around the globe. The heir to t ...

(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 The Iberian Peninsula (), ** * Aragonese and Occitan: ''Peninsula Iberica'' ** ** * french: Péninsule Ibérique * mwl, Península Eibérica * eu, Iberiar penintsula also known as Iberia, is a peninsula in southwestern Europe, defi ...

(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 Compañía Transatlántica Española, S.A. (''Transatlantic Company of Spain'', abbreviated CTE), 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 i ...

(CTE) were among the non-functional companies that were integrated into the Instituto Nacional de Industria. 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 Tabacalera, formerly the Compañía Arrendataria de Tabacos, was a Spanish tobacco monopoly whose origins date back to 1636, making it the oldest tobacco company in the world. In 1999, the company merged with SEITA of France to form Altadis, ...

(tobacco), or

Telefónica Telefónica, S.A. () is a Spanish multinational telecommunications company headquartered in Madrid, Spain. It is one of the largest telephone operators and mobile network providers in the world. It provides fixed and mobile telephony, broadba ...

(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 The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisb ...

, 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 Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 ...

, SEAT by

Volkswagen Group Volkswagen AG (), known internationally as the Volkswagen Group, is a German multinational automotive manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. The company designs, manufactures and distributes passenger and commercial ...

, ENASA by

Iveco IVECO, an acronym for Industrial Vehicles Corporation, is an Italian multinational transport vehicle manufacturing company. It designs and builds light, medium, and heavy commercial vehicles. The name IVECO first appeared in 1975 after a merger o ...

, 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.

Presidents

The chairmen of the INI are as follows: *

Juan Antonio Suanzes Juan Antonio Suanzes Fernández (20 May 1891 – 6 December 1977) 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 M ...

(1941–1963) * José Sirvent (1963–1969) * Julio Calleja (1969–1970) * Claudio Boada (1970–1974) *

Francisco Fernández Ordóñez Francisco Fernández Ordóñez (22 June 1930 – 7 August 1992) was a Spanish politician who was the minister of foreign affairs in the Spanish Socialist Workers' Party (PSOE) government of Felipe González from 1985 until shortly before his de ...

(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 Carlos Bustelo y García del Real (born 1936) served as the Spanish Minister of Industry from 1979 to 1980. At the time Bustelo entered the cabinet, Spain was emerging from the Franco Franco may refer to: Name * Franco (name) * Francisco Fran ...

(1981–1982) * Enrique Moya (1982–1984) * Luis Carlos Croissier (1984–1986) *

Claudio Aranzadi Claudio Aranzadi (born 9 October 1946) is a Spanish engineer, businessman and politician. He served as industry minister from 1988 to 1993. Early life and education Aranzadi was born in Bilbao on 9 October 1946. He holds a bachelor's degree in i ...

(1986–1988) * Jordi Mercader (1988–1990) * Javier Salas (1990–1995)

Bibliography

* Laruelo Rueda, E. (2005
"Fondos históricos del INI"
Centro de Documentación, Arhivo General del SEPI. *Martín Aceña, P. et Comín, F. (1991) "INI: 50 Años de Industrialización en España". Espasa Calpe.

References

{{Authority control Economic history of Spain SEAT Francoist Spain Holding companies established in 1941 Financial services companies established in 1941 1995 disestablishments in Spain Financial services companies disestablished in 1995 Holding companies disestablished in 1995 Spanish companies established in 1941 Government-owned companies of Spain