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

Spain

Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...

 state-owned financing and industrial holding company, currently succeeded by the 'Sociedad Estatal de Participaciones Industriales' (SEPI).

History

The 'Instituto Nacional de Industria' (INI) was established on 25 September 1941 with a starting capital of fifty million Pesetas, aiming to promote under a secure and active way the development of Spanish industry and the self-sufficiency of the Spanish economy, overrunning the effects of the setback due to the Spanish Civil War

Spanish Civil War

The Spanish Civil WarAlso known as The Crusade among Nationalists, the Fourth Carlist War among Carlists, and The Rebellion or Uprising among Republicans. was a major conflict fought in Spain from 17 July 1936 to 1 April 1939...

 by carrying in Spain the model of the 'Istituto per la Ricostruzione Industriale' (IRI)

Istituto per la Ricostruzione Industriale

The Istituto per la Ricostruzione Industriale was an Italian public company set up by the fascist government in 1933 to combat the effects of the global depression on the Italian economy...

 the state-owned industrial holding company which had been founded eight years earlier in Italy.

Despite its inefficiencies, INI was instrumental in moving the underdeveloped primary-sector-based closed Spain of the 1940s to the booming Spain of the early 1970s, the so-called Spanish miracle

Spanish miracle

The Spanish miracle was the name given to a broadly based economic boom in Spain from 1959 to 1974. The international oil and stagflation crises of the 1970s ended the boom.- The pre-boom situation :...

. 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 up in failure (ADARO etc), 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.)

Enasa

ENASA was a Spanish vehicle manufacturing company, incorporated in 1946 having bought the automotive assets of the Spanish arm of Hispano-Suiza. It produced trucks, buses and military armored vehicles under the Pegaso and, for a short while, Sava brands. Enasa belonged to the state-owned INI...

-Pegaso

Pegaso

Pegaso was a Spanish make of trucks, omnibuses, tractors, armored vehicles, and, for a while, sports cars. The parent company, Enasa, was created in 1946 and based in the old Hispano-Suiza factory, under the direction of the renowned automotive engineer Wifredo Ricart...

(trucks), SEAT (Sociedad Española de Automóviles de Turismo)

SEAT

SEAT, S.A. is a Spanish automobile manufacturer founded on May 9, 1950 by the Instituto Nacional de Industria , a state-owned industrial holding company....

(cars), INH (Instituto Nacional de Hidrocarburos)-REPSOL YPF (Refineria de Petróleos de Escombreras Oil - Yacimientos Petrolíferos Fiscales)

Repsol YPF

Repsol YPF, S.A. is an integrated Spanish oil and gas company with operations in 29 countries...

(oil and gas), ENCE (Empresa Nacional de Celulosas de España) (cellulose

Cellulose

Cellulose is an organic compound with the formula , a polysaccharide consisting of a linear chain of several hundred to over ten thousand β linked D-glucose units....

, biofuel

Biofuel

Biofuel is a type of fuel whose energy is derived from biological carbon fixation. Biofuels include fuels derived from biomass conversion, as well as solid biomass, liquid fuels and various biogases...

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

Endesa (Spain)

Endesa, S.A. is the largest electric utility company in Spain. The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10 million customers in Spain, with domestic annual generation of over 97,600 GWh from nuclear, fossil-fueled, hydroelectric, and renewable resource power...

(power), ENFERSA (Empresa Nacional de Fertilizantes S.A.) (fertilizers), EN Calvo Sotelo (petrochemicals), EN Bazán-ASTANO (Astilleros y Talleres del Noroeste)

ASTANO

ASTANO or Astilleros y Talleres del Noroeste is a shipbuilding company based in Fene, Ferrolterra, Spain, which flourished during the 1960s and the early 1970s coinciding with the end of the Francisco Franco era and the arrival of democracy on the hands of the Spanish Socialist Workers' Party...

-Navantia

Navantia

Navantia, formerly Bazán or IZAR, is a Spanish shipbuilding firm, which offers its services to both military and civil sector. It is the fifth largest shipbuilder in Europe, and the ninth largest in the world with shipyards all over Spain....

(military shipyards), Aesa (non-military shipyards), EN Santa Bárbara (weapons), EN Elcano (merchant shipping line), ATESA (Autotransporte Turístico Español S.A.) (tour operator), ENTURSA (Empresa Nacional de Turismo S.A.) (tourism) and others.

INI also integrated other initially private enterprises or industries - like Iberia Líneas Aéreas de España S.A., CASA (Construcciones Aeronáuticas S.A.) and AVIACO (Aviación y Comercio)

Aviaco

Aviación y Comercio, S.A., was a Spanish airline incorporated on February 18, 1948. It was founded when the National Institute of Industry proposed that the national carrier of Spain, Iberia, could not meet the domestic demand. This had been caused by the heavy commitment of Iberia to the lucrative...

 - and absorbed failed companies in order to service debt, among other purposes. In the mid-to late seventies, HUNOSA (Hulleras del Norte S.A.), a large Asturian

Asturias

The Principality of Asturias is an autonomous community of the Kingdom of Spain, coextensive with the former Kingdom of Asturias in the Middle Ages...

 coal mining conglomerate, and CTE (Compañía Transatlántica Española)

Compañía Transatlántica Española

Compañía Transatlántica Española , also known as Spanish Line in documents in English, is a passenger ocean line that has largely ceased operations although it still exists as a company...

 were among the non-functional companies that were integrated into the Instituto Nacional de Industria.

However there were other Spanish official state monopolies -- such as CAMPSA (Compañía Arrendataria del Monopolio de Petróleos S.A.)

CAMPSA

Campsa was the state-owned petroleum products company of Spain created during the 1920s. It was dissolved in 1992 due to the demands of the European Union. Its assets were distributed to the largest private petroleum companies in the Spanish market at the time, principally Repsol, Cepsa, and BP...

 (gas stations), RENFE (Red Nacional de los Ferrocarriles Españoles)

RENFE

Renfe Operadora is the state-owned company which operates freight and passenger trains on the 1668-mm "Iberian gauge" and 1435-mm "European gauge" networks of the Spanish national railway infrastructure company ADIF .- History :The name RENFE is derived from that of the former Spanish National...

 (railways), Tabacalera

Tabacalera

Tabacalera is a Spanish tobacco monopoly which was established in 1636, making it the oldest tobacco company in the world . In 1999 the company merged with SEITA of France to form Altadis. Its brands included Ducados and Fortuna....

 (tobacco), or 'Compañía Nacional Telefónica de España' (Telefónica)

Telefónica

Telefónica, S.A. is a Spanish broadband and telecommunications provider in Europe and Latin America. Operating globally, it is the third largest provider in the world...

 (telecommunications) -- which were never projects part of INI's administration.

In the 1980s, when Spanish economy fully opened to international trade and joined the European Economic Community

European Economic Community

The European Economic Community The European Economic Community (EEC) The European Economic Community (EEC) (also known as the Common Market in the English-speaking world, renamed the European Community (EC) in 1993The information in this article primarily covers the EEC's time as an independent...

, 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

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...

, SEAT by Volkswagen Group

Volkswagen Group

Volkswagen Group is a German multinational automobile manufacturing group. , Volkswagen was ranked as the world’s third largest motor vehicle manufacturer and Europe's largest....

, ENASA by Iveco

Iveco

Iveco, an acronym for Industrial Vehicle Corporation, originally an alliance of European commercial vehicle manufacturers such as Fiat , Unic and Magirus. Iveco is now an Italian truck, bus, and diesel engine manufacturer, based in Turin...

, 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 4th of the same year, is presently 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.

Presidents

• Juan Antonio Suanzes (1941–1963)
• José Sirvent (1963–1969)
• Julio Calleja (1969–1970)
• Claudio Boada (1970–1974)
• Francisco Fernández Ordóñez
  Francisco Fernández Ordóñez
  Francisco Fernández Ordóñez was a Spanish politician who became Minister for Foreign Affairs in the Spanish Socialist Workers' Party government of Felipe González from 1985 until shortly before his death from a terminal illness in 1992...
  
   (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
  Carlos Bustelo served as the Spanish Minister of Industry from 1979-1980.At the time Bustelo entered the cabinet, Spain was emerging from the Franco years and economic development had to contend with what Bustelo called, "the crushing mental inertia," inherited form the old regime.-Books:*...
  
  (1981–1982)
• Enrique Moya (1982–1984)
• Luis Carlos Croissier (1984–1986)
• Claudio Aranzadi (1986–1988)
• Jordi Mercader (1988–1990)
• Javier Salas (1990–1995)