Part of complete coverage on
SENER taps overseas markets as Spain stumbles
July 19, 2012 -- Updated 1736 GMT (0136 HKT)
- Spanish engineering giant SENER is tapping overseas markets in response to Spain's stumbles
- Spain has suffered in the eurozone crisis, and its economy has contracted
- SENER's chief executive said the opportunities in Spain have gone
- The country -- and its people -- need to recover trust in each other, he says
(CNN) -- Spain engineering giant SENER is tapping overseas opportunities in response to a collapse in its home market, which has been swept into the eurozone crisis.
Its shift in focus is reflected in its numbers -- 80% of its civil engineering and architecture contracts are now international, from 30% two years ago, according to the company annual report.
In the boom years civil engineers had no problem finding work in Spain, they had good salaries and they wouldn't move abroad. Now, that has changed.
"In Spain only three or four years ago, if you asked part of your team to move to the Arabic Gulf to carry out an infrastructure project, they wouldn't move," chief executive Jorge Sendagorta told CNN. "Now they do."
The opportunities in Spain "disappeared many months ago, if not years ago," Sendagorta said. The company is now focused on engineering projects elsewhere in the world.
SENER champions innovation, internationalization and investment -- which Sendagota calls the three "i"s. He argues that if innovation is the center of the company's ambitions, the rest will follow. "Every large contract we win, every new significant opportunity we win around the world is based on a technology advantage, on an innovation we have developed," he said.
As such, the company this year intends to ratchet up its research and development spending in its engineering business by more than a third, and almost a half in its aeronautics arms.
It is doing that against a backdrop of increased austerity in Spain, the focus on which Sendagorta questions.
"It is something that has to be done," he said, "but we also need an industrial policy, we need a technology policy, we need policies that will support the sectors in Spain where it is a good player: tourism (and) food production, for example."
Spain, he said, needs to "recover trust in ourselves, confidence in ourselves and we need to recover trust in each other."
Part of complete coverage on
January 16, 2014 -- Updated 1631 GMT (0031 HKT)
Marketplace Europe visits Latvia to see how the Baltic country has made its transition to the Euro from the Lat.
January 16, 2014 -- Updated 1630 GMT (0030 HKT)
CNN's Nina Dos Santos visits Latvia to speak to the country's outgoing Prime Minister and the prospects for the eurozone's 18th member.
January 2, 2014 -- Updated 1640 GMT (0040 HKT)
Malta is the gateway to Europe and on the frontline of the immigration flows. Isa Soares reports from a detention center on the Mediterranean island.
January 2, 2014 -- Updated 1641 GMT (0041 HKT)
CNN's Isa Soares speaks with people on the streets of Valletta who say their country can't cope with more migrants from Africa and the Middle East.
January 9, 2014 -- Updated 1006 GMT (1806 HKT)
Malta cannot afford to continue supporting migrants from war-torn countries in its over-crowded detention camps, the country's foreign minister has told CNN.
December 26, 2013 -- Updated 2123 GMT (0523 HKT)
Slow recoveries, bailouts, and youth unemployment. Richard Quest speaks to Europe's top CEOs about the issues of 2013.
December 26, 2013 -- Updated 2114 GMT (0514 HKT)
CNN's Richard Quest speaks to economist Bob Parker about defining moments of 2013 and about what to expect in 2014.
December 5, 2013 -- Updated 1815 GMT (0215 HKT)
Estonia is setting the pace for other European nations with a thriving economy and its tech industry, according to the Baltic nation's leader.
December 5, 2013 -- Updated 1903 GMT (0303 HKT)
The Baltic nation of Estonia is developing its oil shale energy reserves in a bid to become energy self-sufficient.
November 29, 2013 -- Updated 0925 GMT (1725 HKT)
Europe must stop being nationalistic if it wants to help a lost generation of workers, the regional boss of U.S. conglomerate General Electric says.
November 14, 2013 -- Updated 1706 GMT (0106 HKT)
Peer at the windows and you'll spot big colorful chairs, plastic plants and a huge bed, but this is no department store.
November 19, 2013 -- Updated 1006 GMT (1806 HKT)
There once was a time, many years ago, when the sounds of bagpipes struck fear into the stomachs of Englishmen.
November 11, 2013 -- Updated 1116 GMT (1916 HKT)
Greece is on the way to economic recovery as investor faith returns to the recession-ridden eurozone nation, an executive at Greece's largest bank has told CNN.
November 8, 2013 -- Updated 1200 GMT (2000 HKT)
Could Greece's famous spice help the country's farmers through a four-year long economic crisis.
November 1, 2013 -- Updated 1307 GMT (2107 HKT)
One of the masterminds behind the euro says Europe would have suffered a far worse fate if the single currency had never been created.
October 31, 2013 -- Updated 1741 GMT (0141 HKT)
Nina Dos Santos visits the Dutch city where the European treaty carrying the city's name came into force 20 years ago.
October 25, 2013 -- Updated 1510 GMT (2310 HKT)
As Spain continues its drive to slash budgets and cut spending, one of the nation's favorite pastimes is under threat as ministers look for ways to boost productivity.
October 24, 2013 -- Updated 1617 GMT (0017 HKT)
The high commissioner of Brand Spain talks about getting the country back on its fee and attracting business.
Today's five most popular stories