Posts Tagged ‘government’

Basf to Expand Investment in Tarragona

Basf to Expand Investment in Tarragona

With the Spanish economy continuing to expand at a faster rate than its European neighbours, there was further good news on the foreign investment side for Spain. Basf, the largest chemical producer in the world, has announced that it is planning to invest 21 million euros with the opening of a new line at their agrochemical plant in Tarragona, in the country’s Cataluña region. Currently the plant is the largest…

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AXA Completes Buy of Santander Assets

AXA Completes Buy of Santander Assets

Axa Real Estate has given a vote of confidence to Spain’s recovering property market with the acquisition of 381 branch offices from the country’s biggest bank Santander. Axa Real Estate, the largest real estate portfolio and asset manager in Europe, brokered the 308 million euros deal on behalf of a joint venture involving two of its institutional clients. Most of the offices are located in major cities like Madrid, Barcelona and Malaga, but there are also some in prime locations in smaller towns across Spain.

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Volkswagen Increases Spain Investment

Volkswagen Increases Spain Investment

Spain’s automobile industry received a double dose of good news last month: another extension to the government’s sector subsidy scheme and a 4.2 billion euros five-year investment commitment from Volkswagen! The German car manufacturer has earmarked the cash for improving installations and R&D at its two plants, one of which is its Seat factory in Martorell, near Barcelona, and the other in Pamplona in Navarre, home to the VW Polo. Spain is a key market for Volkswagen and its latest project – which has been touted as the largest ever industrial investment in the country – will guarantee the future of the group’s facilities.

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Banca March Strengthens Growth Prospects

Banca March Strengthens Growth Prospects

Spanish private bank Banca March continues to outperform its competitors thanks to its strict risk control policy, exclusive products and value creation for clients. The unlisted lender emerged as the most solvent bank in Europe in two stress tests carried out by the European Banking Authority in 2011 and 2012. And this solvency, coupled with its excellent reputation, has allowed it to grow organically over the past few years while its peers have been on the acquisition trail.

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Spain Still Attracts Foreign Investors

Spain Still Attracts Foreign Investors

Spain’s recovering economy and the increasing competitiveness of its industries are driving a fresh inflow of foreign investment. In 2014, Spain came 9th in the rankings of countries which attracted the largest amount of global investment. No mean feat for a country which only two years previously was teetering close to the brink of a bailout as its risk premium hit historic highs amid doubts over its ability to balance its books.

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Nestle Hikes Capacity at Spain Coffee Plant

Nestle Hikes Capacity at Spain Coffee Plant

Nestle has recently become the latest international firm to bet on Spain as an investment hotspot! In March it announced a 102 million euros investment in a new coffee production facility at its plant in Girona, north east Spain. The project is expected to create around 300 jobs in the construction phase and an additional 40 at the plant when it is fully operative at end-2017.

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Spain M&A Sector Continues Growing

Spain M&A Sector Continues Growing

Companies across the globe are expected to show increased appetite for M&A in 2015, continuing the positive trend registered last year, consultancy firm KPMG said in its February M&A Predictor report. As the impact of the financial crisis has eased over the last two years or so, firms have been able to pay down debt and start building up cash to fund fresh acquisitions. Easier access to credit has also been a factor influencing the rise in deals in 2014.

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S&P Upbeat on Spanish Banks

S&P Upbeat on Spanish Banks

Spanish banks are on course to consolidate in 2015 the improvement in earnings seen last year, according to Standard and Poor (S&P). As the country continues its economic recovery, lenders’ bad debts will decline and profitability will improve, the ratings agency said in a report published in February. S&P expects the banks to post recurrent prextax profit of about 14 billion euros in 2015, up 25-30 percent from a year earlier.

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Spanish Banks’ Bad Loans Fall as Credit Rises

Spanish Banks’ Bad Loans Fall as Credit Rises

Over the last few months, Spanish banks have been showing that the economic recovery is slowly but surely filtering through to their balance sheets.

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Lidl To Open Logistics Centre in Madrid

Lidl To Open Logistics Centre in Madrid

There was some welcome good news for the Madrid region last month, both on the employment front and in terms of foreign investor interest!
German discount supermarket chain Lidl said it will earmark 70 million euros for a new logistics centre in Alcala de Henares, on the outskirts of the Spanish capital. This will be Lidl’s largest logistics platform in Europe and the construction work and commissioning of this distribution centre will create 100 jobs.

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