ArcelorMittal aims to restore Ilva as Italy’s leading steelmaker after bid is accepted

ArcelorMittal and Italian re-roller Marcegaglia aim to relaunch steelmaker Ilva as the number one Italian steel producer after their bid was approved by the Italian government.

Carlo Calenda, the Italian minister of economic development, has signed a decree to transfer Ilva to the Am Investco consortium, which also includes Italian bank Banca Intesa San Paolo, ArcelorMittal said on Tuesday June 6.
The decision comes just over a week after the three commissioners responsible for running Ilva recommended that the bid led by Am Investco should prevail over a rival effort led by India’s JSW Steel.
“Our teams are excited to have the opportunity to help Ilva re-establish its position as Italy’s premier steel company,” Lakshmi Mittal, chairman and ceo of ArcelorMittal, said on Tuesday.

“Our plan is supported by a significant investment programme that will enable the company to improve its product mix, win back market share and...

Published

Lee Allen

June 06, 2017

14:09 GMT

London