The Spanish Government approved last Friday, March 16th a plan to restructure the public sector, which affected 49 companies, including INSA (Ingeniería y Servicios Aerospaciales S.A.).
The company that belongs to the Ministry of Defence, was founded in 1992. According to that plan, INSA’s activities, employees and assets will be integrated into ISDEFE (Ingeniería de Sistemas para la Defensa de España, S.A.), another company that also belongs to the Ministry of Defence.
INSA’s activities will continue as usual, contrary to the impression given by media news of last Friday. The goal of the merger of these two companies is to build a stronger one, better positioned to compete internationally that additionally is able to take advantage of economies of scale.
INSA is a leading company in the aerospace sector. At present, it employs 725 highly qualified people. Its 2011 income was €55 M with a profit close to €7 M. Among its customers are NASA and ESA.
Source: Press Release