Tandanor is an Argentine worker-owned shipyard. Founded on November 10, 1879, Tandanor was originally conceived for the maintenance of the Argentine naval fleet. In 1991 Tandanor was privatized under President Carlos Menem's privatization plan. In 1999, after the main actionist declared bankruptcy, its workers bought out the shipyard. The economic crisis of 2001 and the following currency devaluation lowered the costs to competitive international values, which made the business again profitable.