50 years of success


Towards integrated manufacturing and exportation



With the support of the Japanese companies Nisshin Steel and Hisshon Iwai, a group of Spanish engineers designed an integrated stainless steel factory capable of producing ten times more material than what was consumed at that time in Spain, and with technical and productive characteristics that are significantly innovative for this era.


Acerinox was founded with a clear international calling, and this global spirit remains in the Group’s DNA today. While the factory was being designed, collectively they formed a company with an initial share capital of 300 million pesetas (EUR 1.8 million). Just five years later, the first office abroad was to open in Paris... this is how the most global stainless steel production, sales and distribution network in the world was born.


The Acerinox project starts to become a reality in late January - early February, when Victoriano Muñoz Cava, at the request of José María Aguirre Gonzalo (the then Vice President of Banesto), begins negotiations with Nisshin Steel and Nissho Iwai for the company's foundation contracts, which are signed on 21 April in Tokyo.

Just five months later on 30 September 1970, Acerinox, S.A. is incorporated with the following shareholders:

-Banco Guipuzcoano



-Nisshin Steel Corp.

-Nissho Iwai Corp.

-D Efren Beltrán

-D. Manuel Umbert

The offices are set up on the eighth floor of Calle Hermosilla, 8 in Madrid, and the first group of Japanese technicians arrive immediately to work on the future plant.

Firma contrato con Nisshin abril 1970


In January the first group of Spanish technicians leaves for Japan.


The then Minister of Industry, José María López de Letona, visits the construction site of the Palmones factory. Furthermore, in November the finishing shop starts up.

Visita ministro industria palmones 1972.


In May, the Board of Directors approves the melting shop, dock and BA finishing no. 1 project. The second group of Japanese technicians arrives at the melting shop in March. The South and the Catalonia Offices open in April and June, respectively.

firma acuerdo 2 fase 1974.jpg


In March, the SZ no. 2 group is launched in Acerinox Europa. Similarly, in July, the electric arc furnace and the AOD no. 1 of the plant start up, and the dock gets under way.

Colada convertido AOD 9 1976.jpg


Construction of the factory, which now has the first annealing and cold rolling lines, continues.



Following the acquisition of land, the designing of the factory and the hiring of the first professionals who would form the company, on 18 October the first stone of what would eventually become the Acerinox Europa plant is laid. In June, the headquarters is moved to Calle Doctor Fleming, 51, what was then the northern tip of Madrid.

1970 TERRENOS 1970.jpg


On 13 July, the then Prince of Asturias, Juan Carlos de Borbón, officially inaugurates the factory. In April, the SZ no. 1 group is launched and the first products are exported. In June, the Northern Office is opened.

Visita rey Palmones 1973.jpg


In July, the second group of Spanish technicians from the melting shop travels to Japan.


Additionally, in March the Central Office, and in May the Acerinox France Office, the first outside of Spain, open.



In December, Continuous Casting (CC) and the Bright Annealing (BA) no. 1 finishing line of Acerinox Europa start up.



In December, the Commercial Office of Acerinox Chile is created and, subsequently, a warehouse is opened. After the French office, Chile is the second country to have Acerinox offices.


© 2020 Acerinox

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