Tubos Reunidos selects five offers involving job cuts

Tubos Reunidos, currently in insolvency proceedings, has selected five anonymous offers to move to the next phase of its sale process. All five proposals include plans to reduce the workforce of approximately 1,300 employees and implement changes to working conditions.

The offers vary significantly in value. One proposal offers 27.5 million euros for the Trapagaran plant in Vizcaya, while others offer 1 million euros, 100,000 euros, or a symbolic single euro. Only three of the five offers involve purchasing both the Trapagaran and Amurrio (Álava) facilities; the Amurrio plant, which employs 900 workers, is currently facing significant difficulties.

While the identities of the investors remain undisclosed, one prominent candidate is reported to be industrialist José Antonio Jainaga, president of Talgo and Sidenor. The company currently carries a debt of approximately 300 million euros. The details of these proposals will be presented to the Board of Directors and worker representatives for further evaluation.