Tubos Reunidos Faces Insolvency, Jobs at Risk

Tubos Reunidos, a century-old Basque steel pipe manufacturer, faces insolvency with €263 million in debt and an €82.5 million loss last year. The company, which employs nearly 1300 workers, is struggling due to Trump-era tariffs, soaring energy costs, and cheap Chinese steel. Protests erupted as unions rejected a plan to cut 242 jobs. Share prices plummeted from €0.57 to €0.14 over the past year, and trading has been halted. A COVID-era state loan is under investigation for possible political favoritism and bribes. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d5a0e3162e465a92