No news on the negotiations between the Asturian company and Sonelgaz to unblock the Djelfa project in Algeria
Duro Felguera skyrocketed by 15.26% on Friday on the Spanish stock exchange after it was revealed yesterday — after the market closed — that Indra will purchase a «large factory» from the Asturian company in Gijón and convert it into a facility to manufacture military vehicles, although the specific plant and the amount of this potential acquisition have not been disclosed.
Specifically, the engineering firm’s shares led the market on Friday with a 15.26% increase, trading at a unit price of 0.3135 euros. The shares reached an intraday high of 0.38 euros, at which point the bullish revaluation was nearly 40%.
It is worth noting that Duro Felguera did not reach that maximum price until after 10:00 a.m. due to high volatility in the opening auction.
In a broader context, the company’s stock rose by 14% during the week and has accumulated a 37.5% appreciation in 2025 so far. The market capitalization stood at 67.5 million euros at the close of this session.
The engineering firm has a heavy boiler factory in Gijón specializing in the manufacture of pressure vessels for the petrochemical and nuclear sectors.
This announcement by Indra’s president, Ángel Escribano, yesterday is part of Duro Felguera’s request for a three-month extension of the pre-bankruptcy process it entered into at the end of December.
Duro Felguera will have until June 11 to negotiate with financial entities, as it has not yet reached an agreement with the State Industrial Participations Society (SEPI).
The Asturian company filed for pre-bankruptcy on December 11 with the Commercial Courts of Gijón in order to start negotiations for the approval of a restructuring plan that would ensure its future viability and preserve as many jobs as possible.
DISPUTE IN ALGERIA
Sources from the Asturian engineering company have confirmed to Europa Press that there are no updates on Duro Felguera’s trip to Algeria on March 9 to unblock the Djelfa project, which would involve reaching an agreement with Sonelgaz Production d’Electricité (SPE).
The Algerian energy company submitted an arbitration request to the Chamber of Commerce and Industry of Algeria against the Asturian engineering company for the suspension of the Djelfa contract, which involves the construction of a combined-cycle power plant.
In this request, the Algerian client asked for the suspension of the contract, which has been blocked since last June, to be lifted and work to resume, as well as compensation of around 413 million euros.
This was the ‘trigger’ that led Duro Felguera to file for pre-bankruptcy on December 11 with the Commercial Courts of Gijón, as the Algerian arbitration required the Asturian company to restate its financial results from 2022, after provisioning 100 million euros in its accounts for the Djelfa project.