New owner brings good news to Basque shipyard

CNN chairman declared that at the end of next week or the beginning of the following one the company expected to sign the private sale contract. Shipyard company Construcciones Navales del Norte (CNN), the successful bidder for the assets of Sestao’s La Naval shipyard, forecasts earnings of 200 million euros a year over the next five years, with the current workload under contract (two dredgers, five cargo vessels and a methane tanker under construction), together with other contracts now being finalized that should include an extra dredger, a shuttle and four freezer container vessels. Management at CNN are even optimistic about La Naval making a profit next year.