Tubacex has made net profits of EUR 12.4 million between January and September. This rise is very significant for the multinational group established in Aiaraldea, which last year won only EUR 1.1 million over the same period of time. Sales have risen by 40.3%, while sales have risen to 519.9 million euros.

Jesús Esmorís stressed that the medium-term outlook is "very positive". “We have many projects in the procurement pipeline,” explained the company’s CEO.

Thus, management members expect this year 2019 to “recover” and that in 2020 and 2021 there will be a “strong expansion” in the sector.

As you have explained, Tubacex’s strategy is based on large projects over many years. Production and technological development in local companies is carried out in collaboration with top-level companies in the countries where the product is to be shipped. “The agreement with the Egyptian Government for the development of nuclear energy is a sign of the success of this strategy.”

Situation of local factories

These prolific results clearly contrast with the situation of the company's plants in the region. In fact, the members of Tubacex Taylor carried out a six-day strike during the summer in defence of the collective agreement and the company dismissed two workers.

"Today the situation is still the same," the workers' representatives said, "the two dismissed have not been readmitted and now the management has asked us to work an extra 15 days each year, but without presenting any industrial plan to justify it." The workers of Tubacex Taylor have met with the Basque Government to complete the hunger strike. "We are waiting for the call from the Department of Labor, we will soon have more news," he added.

This news was posted by Aiaraldea and we brought it to ARGIA thanks to the CC-by-sa license.