The management of Tubos Reunidos has informed a delegation from the works council this Monday that "they have decided absolutely nothing" regarding a possible request for bankruptcy proceedings and that, as they have been told, any determination in this regard corresponds to the "board of directors," according to ESK.
According to sources from this union informed Europa Press, a representation of the committee has traveled this Monday to the company's central offices in Bilbao. There they were received, among others, by the company executive Carlos López de las Heras, as well as by the secretary of the board of directors and the financial director, with whom they have directly addressed this scenario.
Coinciding with this meeting, Tubos Reunidos shares have plummeted by around 40% amid rumors of a possible bankruptcy filing, in a context marked by the impossibility of restructuring debt and by the presentation of an ERE affecting 240 workers, an expediente that most union organizations plan to challenge.
During the meeting, the company's representatives reiterated to the committee that no official communication regarding a potential tender has been disseminated and that they "have decided absolutely nothing" on this alternative. Likewise, they insisted that the ultimate responsibility for adopting this decision rests with the board of directors.
In this context, ESK maintains that the ERE proposed by Tubos Reunidos, the closure of the steel mill, and the outsourcing of logistics "do not solve the company's situation," "but rather worsen it" in view of a possible entry into receivership.
For his part, Gorka Abascal, a member of the works council for ESK, has underlined that, if finally "the presentation of a creditors' meeting" were to occur, it would be "clear that the social side was right", since, in his opinion, "the creditors' meeting has not been a consequence of having the steel mill open or of there being an indefinite strike in Amurrio".