2014 REVIEW: The changing face of the Italian steel industry

The Italian steel industry has gone through a year of great turmoil, with some major companies finally solving their long-lasting problems, and another one possibly about to do so.

The German steelmaker ThyssenKrupp's decision to re-acquire Acciai Speciali Terni (Terni) from the Finnish stainless steel producer Outokumpu, was a partial reversal of a deal concluded just one year before.
To get European Commission's approval for the deal, ThyssenKrupp pledged to strengthen the position of the company in the stainless flat steel sector.
Then, on July 17, ThyssenKrupp announced its intention to restructure the plant, cutting 550 jobs and shutting down one of the two electric arc furnaces (EAFs).
The announcement sparked violent protests from local trade unions, who blamed Terni's managing director Lucia Morselli.
The protests stopped in August as the company announced a temporary suspension of the announced lay-offs, but resumed in October after one month of unsuccessful negotiations.
As workers blocked the plant for several weeks, the company tried to renegotiate contracts for the supply of raw materials, a bid abandoned within a few days.



Antonio Peciccia

December 22, 2014

15:58 GMT