A spa was opened in 1862 under the name “Baños Nuevos de Elorrio”. From the outset, and more so following its renovation in 1879, this spa gradually acquired an excellent reputation.
In 1885 the spa suffered a fire that destroyed it almost entirely. It was totally rebuilt and restored, and reopened in 1887.
Two years later, in 1889, a hotel was opened under the name Nuevo Hotel de los Baños Nuevos. This hotel was a European benchmark in its class for many years.
In the 20th century the spa was affected by the gradual decline suffered by the sector as a whole. Activities were gradually wound down and the establishment was closed down in 1936.
In 1941 a group of local families founded a company under the name BELERÍN, S.A.
The company operated prosperously for the next 40 years.
In the context of the major recession suffered by the metalworking industry in the 1980s, BELERÍN SA suffered from major solvency problems which resulted in changes in the ownership of the company.
The current company BETSAIDE, S.A.L. was founded as a worker-owned limited company [Sociedad Anónima Laboral] in 1989, with 120 founder members.
In the 1990s the company invested in vertical moulding lines (DISAMATIC) and gradually phased out its horizontal moulding lines.
It worked mainly with grey iron and malleable iron for the valve-manufacturing industry.
BETSAIDE began to supply products to major European customers in the car/truck manufacturing industry, which entailed medium to long production runs.
Within a few years the company had secured major customers in the automotive industry (Tier 1), truck manufacturers (OEMs) and agricultural machinery manufacturers (OEMs & Tier 1).
Most of this production was in nodular iron.
Raising of the company’s international profile and supply of finished products via outsourced additional operations.
In 2006 a new building was completed to house the robotised logistics warehouse, the finished products section, the shipping section and new offices for the Quality, Logistics and Finished Products Departments.
In 2008 a smelting and moulding line was purchased from the neighbouring foundry LINCE, a DISAMATIC moulding machine was installed and a fourth manufacturing line was introduced.