Tubos Reunidos faces decisive phase to avoid dissolution

Tubos Reunidos has entered a decisive phase to avoid dissolution, with five firm offers currently under consideration to address its 300 million euro debt. The insolvency administration is expected to communicate which five proposals will proceed to the final stage on Friday, October 16.

To advance, admitted proposals must be binding regarding price and accompanied by a deposit equal to 5% of the offered amount. Candidates will then undergo a question-and-answer process regarding financial and legal aspects before submitting final binding offers. The insolvency administration will prioritize the continuity of plant operations during its evaluation.

The potential restructuring impacts key facilities, including the Trapagaran plant in Bizkaia, which employs approximately 300 people, and the Amurrio plant in Álava, which employs nearly 900 people. Negotiations regarding labor conditions and the final scope of the operation will involve the company, the insolvency administration, and worker representatives.