Progress in the negotiation between the Government and ArcelorMittal on the future of the former Ilva of Taranto. The civil judge of the Court of Milan, Claudio Marangoni, has postponed the hearing on the appeal of the Ilva commissioners to 6 March in order to allow the two parties to continue negotiations which, according to forecasts, should lead to an agreement to be signed by the end of February.
"We unanimously ask for the postponement to February 28 to reach an agreement and complete the negotiations", it was announced on the morning of February 7. ArcelorMittal and the commissioners of the former Ilva have in fact reached an agreement for continue negotiation “until February 28-29“, explained before the hearing the lawyer Ferdinando Emanuele, lawyer of the French-Indian group. If the agreement arrives in time, the proceeding will be closed in the light of the ceased matter of the dispute given that Arcelor will withdraw the writ of summons and the former Ilva commissioners will withdraw the appeal.
There are many points still to be explored before being able to claim victory, starting with the redundancies: in December Mittal had asked for 4.700 exits and then dropped to 3.500. Both proposals were rejected by the government. We also need to understand what the role of the newco will be and how the probable entry of the State into the company will take shape.
According to the Sun 24 Hours the understanding could also contain an exit clause for ArcelorMittal. Based on forecasts, from 1 to 30 November 2020 the steel group will have the opportunity to leave Taranto by paying half a billion euros and leaving control of the company in public hands.
However, Arcelor's lawyer reassures: "There are grounds for reaching an agreement, ArcelorMittal will remain in Taranto”, declared the lawyer Roberto Bonsignore at the end of the court hearing. The lawyer released the statement alongside Lucia Morselli, CEO of ArcelorMittal Italia, who had the lawyer answer questions from journalists. “The work done is good and allows us to move on to the legal phase for the finalization of the contractual phase”, he added, explaining that in the courtroom the company confirmed its commitment to "continue production in Taranto".
