During his appearance at the court hearing on the approval of the restructuring plan, held at Commercial Court No. 3 in Gijón, Duro Felguera’s chief executive, Eduardo Espinosa, stated that the roadmap designed to ensure the company’s viability is already becoming a reality, following the implementation of some of the key measures set out in the strategic document.
“I am convinced that the plan definitively addresses the company’s long-standing challenges,” stated the chief executive, who added that Duro Felguera is simply awaiting the ruling before relaunching its commercial strategy.
The chairman also referred to what are known as legacy projects, including Iernut and Djelfa. “We have been in negotiations with Romgaz since July last year and, sadly, because it is a very important energy infrastructure project for Romania, we were unable to reach an agreement. Otherwise, the work would already be completed by now,” said Espinosa regarding the Iernut combined-cycle power station, one of the projects that have weighed heavily on the company.
Another is Djelfa, the combined cycle plant in Algeria, where an agreement was also not possible, largely due to the scheme imposed by the client (Sonelgaz) to work with its own subcontractors, which rendered the situation unviable.
Meanwhile, the company’s chief spokesperson highlighted two projects set to play a key role in this new phase: Escolín and Tula in Mexico, linked to the joint venture with Mota-Engil and backed by Grupo Prodi. In the case of Escolín, the project is based on engineering work already carried out and on a letter of intent signed in January for joint participation in both developments, worth over 300 million dollars.
Tula, meanwhile, is at a more advanced stage, with a contract awarded to Mota-Engil Mexico and a pre-award for Duro Felguera, with General Electric Mexico as the main client. For the company, both projects demonstrate that the plan not only streamlines the group’s structure but also maintains its ability to generate business in priority markets.
Alongside these developments, Duro Felguera argued that the plan has gained momentum with the achievement of various milestones, including the renewal of public backing from FASEE, divestments already formalised —such as the sale of the head office and El Tallerón—, structural adjustments through the redundancy plan, the corporate reorganisation with the incorporation of MidCo, and the financial backing committed by Grupo Prodi.
Overall, the company maintains that the restructuring is already underway and that its recent progress confirms that the plan is increasingly grounded in concrete facts and achievements.
Key figures and details of the plan currently being implemented
- FASEE: FASEE: public support (Fund for the Solvency of Strategic Companies) of €120 million, already novated (Dec. 2025), with a direct impact on reducing the financial burden and extending maturities.
- Divestments: includes headquarters, Heavy Metalworking Workshop (sale to Indra) and other operations aimed at simplifying the group and freeing up resources.
- Redundancy plan: structural adjustment already underway, with a target workforce of around 500 employees, adapted to the group’s actual capacity.MidCo: new operational holding company (February 2026) to consolidate business, simplify structure and improve management control and cash flow.
- Prodi: over €90 million already contributed, new financing committed for €10 million and additional support in the form of guarantees or business in Mexico (up to €15 million).
- Escolín Project: linked to a letter of intent with Mota-Engil (January 2026) for joint projects exceeding $300 million, as an example of new activity.
- Tula Project: contract awarded to Mota-Engil Mexico and pre-award to Duro Felguera, with General Electric as the client, as part of a large-scale operation.