Celsa Faces Debt Standstill as 550M Rescue Moves Forward

The workers at Celsa are mobilizing to confront the threat facing the future of these industrial facilities. A veto on creditor funds and a public rescue package of 550 million euros have become central to the debate, with SEPI at the heart of the effort. Demonstrations were organized outside the headquarters of Deutsche Bank in multiple cities including Barcelona, Bilbao, Santander, and A Coruña, signaling growing concern over how the debt will be managed. Support for Celsa’s management has come from regional authorities and major business and labor organizations, underscoring the perceived importance of keeping the plants running for regional employment. Approximately thirty thousand jobs, both direct and indirect, hinge on the continued viability of the facilities that were paused this Friday to accommodate worker participation in the protests.