The Strategic Companies Solvency Support Fund (FASEE), managed by SEPI, is willing to review and make more flexible the repayment schedule of the public funding granted to Tubos Reunidos, as well as other terms associated with this aid, in order to facilitate a solution that guarantees the continuity of its industrial activity and the maintenance of employment, according to sources from SEPI to Europa Press.
This option is framed within the Fund's willingness to study, together with the bankruptcy administration and potential investors, all possible alternatives that allow for a viable exit for the company, within the margin offered by current regulations.
The purpose is to facilitate the arrival of new investors and to reconcile the future viability of the company with the obligations arising from the public funding received, the same sources have specified.
In this line, they have recalled that, since these are public resources, any proposal must comply with the European framework for State aid. However, this requirement does not prevent the analysis of different options or the introduction of adjustments in the repayment conditions as long as they remain within legal limits.
Dialogue with all involved parties
Sources from SEPI have reiterated the "full willingness to dialogue and negotiate" of FASEE to help ensure the continuity of Tubos Reunidos' activity.
Likewise, they have pointed out that the Fund has maintained "from the very first moment" a dialogue and collaboration attitude both with the company and with the different involved parties, with the aim of studying solutions that allow overcoming the current situation.
They have added that this attitude is not something exceptional, as the Fund has worked with other companies benefiting from its support to design flexibility formulas that have made it possible to undertake new investments and support restructuring processes.
Consequently, FASEE maintains its commitment to continue collaborating with all actors, "not ruling out any viable alternative" that is respectful of the regulations, with the aim of reaching a future solution for Tubos Reunidos, according to the same sources.