Translations:Balay S.A./2/en

As a consequence of the economic crisis and saturation of the domestic market, employment fell by almost 50 percent in the Spanish home appliance sector between the years of 1980 and 1987. Thanks to restructuring measures, Balay was nationalized in 1980 and merged with the home appliance manufacturer Safel to form the Safel-Balay Group. Once the Spanish home appliance market had stabilized, the Spanish Government decided to reprivatize the Group at the end of 1988.