10,000 shares were issued to a value of 4 million pesetas; the new company took over the facilities of the Sociedad de los Diques Secos de Bilbao (Dry Dock company of Bilbao) through the offer of 2,000 shares plus two permanent seats on the Board of Directors.

[3] World War I brought increased demand; the company was able to expand during the period, and eventually had facilities for ships of 12,000 tonnes.

Post war demand fell despite increasing protectionism; the company diversified into manufacture of rolling stock - including wagons, steam locomotives, and trams), the company also began to manufacture rolling mill equipment, as well as road vehicles such as buses.

[1] Employment numbers had dropped to around 1500 by 1935; during the Spanish Civil War the factories output was militarised, afterwards the company received state backing.

[1][4] As a negative result of the effects of the 1973 oil crisis the company began to record losses, the company also faced increased competition from East Asia (South Korea and Japan), as well as the reduction or loss of state aid due to entry to the EU in 1986; state restructuring resulted in the closure of the yard in 1987, to much opposition, and with 1,297 job losses as a result.