2023-07-03 17:35:19
Tubos Reunidos has announced the presentation of a Temporary Employment Regulation File (ERTE) for the staff of its plant in Amurrio (Álava) in order to deal with the drop in orders.
The management has communicated to the works council the “need” to apply an ERTE in the center of Amurrio as a “temporary production adjustment measure” to provide it with “the necessary flexibility given the drop in orders experienced in recent months, which affects directly to this plant and which is expected to continue during the second half of the year”.
The negotiation with the unions is expected to begin next week, although the approach involves the application of a six-month ERTE from September 1, with a 50% reduction in working hours.
The causes of the drop in orders experienced are related to “the high stock of tubes in distributors, as well as the increase in interest rates that delay projects and have a negative influence on demand,” they explained.
According to the company, it is a “temporary prevention measure to consolidate the sustainability of the company, which continues to advance and fulfill its strategic plan.”
Within the framework of the company’s Shareholders’ Meeting held last week, its president, Francisco Irazusta, explained that the company has obtained more than 50 million euros of net profit in the first five months of 2023, which means improving in seven million euros the result achieved in the entire financial year 2022.
Irazusta did not want to advance the forecast of results for the whole of 2023 out of prudence, given the “uncertainty of the market”.
According to him, the intake of orders shows a “downward” adjustment and “a slowdown in demand” is perceived, to which must be added the increases in the costs of raw materials, the problems in the supply chains, “unprecedented” energy costs and interest rate increases.
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