Instituto Nacional de Industria acts ended up in failure (e.g., Adaro), INI soon turned itself into the biggest industrial conglomerate of Spain. INI included a broad range of companies, from heavy and basic industries to "soft" services, most of them with E.N., standing for Empresa Nacional (National Corporation), in their names. Among them were: Ensidesa (Empresa Nacional Siderúrgica S.A.)–Aceralia (steel), Enasa (Empresa Nacional de Autocamiones S.A.)–Pegaso (trucks), SEAT (Sociedad Española de Automóviles de Turismo) (cars), INH (Instituto Nacional de Hidrocarburos)–Repsol (Refinería de Petróleos de Escombreras Oil) (oil and gas), ENCE (Empresa Nacional de Celulosas de España) (cellulose, biofuels), ENDASA (Empresa Nacional de Aluminio S.A.)
Sociedad Estatal de Participaciones Industriales development activities. The SEPI group holds indirect shares in more than one hundred commercial enterprises and retains some minority shareholdings in the International Airlines Group (IAG, formerly Spanair/BA) and Espana Expansion Exterior (a Spanish exports development company with consulting, finance and technical assistance activities within foreign markets). List of publicly owned assets disposed up to March 2015. Sociedad Estatal de Participaciones Industriales Sociedad Estatal de Participaciones Industriales (SEPI) is a Spanish state holding company that is characterized as a Sovereign wealth fund. It is controlled by the Ministry of the Treasury. SEPI was preceded by the Instituto Nacional de Industria