ISOLUX, an engineering and construction group that went bankrupt more than a year ago, has sold its production unit to Eurofinsa.
Eurofinsa will use the site to expand its renewable energy network, and will take on 20 workers from Isolux.
The deal was settled for around €150,000, although it also includes the absorption of Isolux’s €1.5 million debt.
It will open the door for Eurofinsa into a renewables industry it has previously had no experience in.
Eurofinsa operations director Raphael Benatar said:
“This purchase will allow the company to compete at the highest international level in projects relating to transmission lines, and solar and electric power, among others.”