The five investors interested in buying Tubos Reunion will meet with the unions next week

The five investors interested in acquiring Tubos Reunion will meet with the unions next week, the insolvency administrator told the works councils on Wednesday.

At this meeting, five of those interested in acquiring all or part of the company will explain to the trade unions their plans and planned work adjustments, three of which propose to maintain the activity in both factories, two in Trapaga (Bizkaia) only, and all of them plan to make adjustments to working conditions and staff.

After these meetings, negotiations with the trade unionscould begin , which will have a major impact on the viability of these plans, and the process will be completed in mid-December, when the final binding tenders will be submitted.

The management of Tubos Reunidos has insisted that its financial situation remains critical, but with a workload of several months, and has ensured that it will pay its payroll this month smoothly.

These meetings will take place on Tuesday, after the board of directors of Tubos Reunidos, in agreement with the Insolvency Administration, reported that it has agreed to request the commencement ofthe liquidation phase of the group's matrix , in which no offers had been received, a decision also motivated by the impossibility of reaching an agreement with creditors.