Ex Ilva, “consensual” divorce by Wednesday, Federacciai pushes Arvedi
The decisive countdown for the future of Ex Ilva has begun. As Corriere della Sera writes, “ArcelorMittal's permanence in Acciaierie d'Italia is numbered.” Although the Indian giant is building the largest steel plant in the world in India, “by hook or by crook the private partner of the former Ilva must be considered out. The negotiation between the legal teams of Invitalia and ArcelorMittal, respectively at 38 and 62% of the capital, began immediately after the Indian CEO Aditya Mittal announced last January 8th that he no longer wanted to inject resources into the company. And it must be closed in a few days: the deadline set by the government is Wednesday January 17th”.
As Corriere della Sera adds, “the parties are working on a consensual divorce, the preferred solution because no one likes the alternative of extraordinary administration: the “soft” exit of the private partner from Acciaierie d'Italia is certainly the one preferred by the government and would also have advantages for ArcelorMittal, considering that it could provide compensation and would certainly avoid a long legal dispute”.
Meanwhile, alternative solutions are being sought, with Repubblica explaining how “the executive is already looking ahead and preparing for every scenario. The Minister of Labour, Marina Calderone, says she is confident in an alternative solution to Mittal, confirming the opening of a table to address all issues related to employment, including redundancy payments, as well as safety”.
Federacciai also takes a position. In an interview with Corriere della Sera, Antonio Gozzi pushes a specific name to save the former Ilva: “It is impossible not to think of the largest producer of flat products in Italy which is Arvedi. I speak with full knowledge of the facts.” Arvedi had already tried to beat the Indian competition. “But the Franco-Indians were preferred. Because, following European parameters, more importance was given to the offer than to the industrial plan”, says Gozzi.
The leader of Federacciai explains to Corriere the role that in his opinion the state should have: “It should certainly also be present to negotiate in Europe the possibility of supporting the reconversion of Ilva with public funds. On the other hand, the Germans did it guaranteeing 2.5 billion to Thyssen Krupp, I don't see why we should be prevented from doing so.”
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