References / Case studies
Chinchurreta S.A., a company manufacturing welded steel tubes,
based in the North of Spain (Basque Country), wished to expand its production capacity and invest in new lines, allowing it to widen its range of references. The company did not have enough space on its historic industrial site to implement these investments.
Chinchurreta was contacted by BPI, which informed it of the reindustrialisation project that the Michelin Development Foundation had started in Aranda de Duero (160 km north of Madrid), and for which BPI had been chosen to attract investment projects. The aim of the reindustrialisation project was to find new companies to invest in Aranda and the surrounding area, to compensate for the loss of 350 jobs in the Michelin factory, following a restructuring.
Chinchurreta found the project to be positive for various reasons:
the company felt that Aranda had an advantageous geographical location in view of its good infrastructure connections and because it was close to its other production site;
the Michelin Foundation and BPI had created an institutional framework that encouraged industrial projects to be implemented there;
in addition to public aid, the Michelin Foundation offered attractive financial assistance linked to the number of jobs created.
A business area was to be developed in tandem with the reindustrialisation project, which would offer companies property at competitive prices.
In light of these conditions, Chinchurreta created the Tubos de Aranda company and set up in Aranda de Duero, making an investment of €37 million, with the aim of creating 120 jobs.
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