That the expressions of interest for the largest iron and steel plant in Europe (that of Taranto) are decisively entering the formality of the tender was demonstrated by Corriere della Sera which, through the pen of its most illustrious jurist and collaborator, warned all for the "root" illegitimacy of the Government decisions taken to protect the present and future managers of the site and a fundamental basis for guaranteeing certain protections and consequent behaviours. The largest opinion newspaper in the country seems to side with the procedural formalities which have repeatedly led the Prosecutor's Office and the Taranto Judiciary to cancel any action by the Government and the commissioners aimed at postponing the time necessary (technologically and financially) for the recovery, restructuring and revitalization of Italian steel. For this reason, the sword of Damocles over the heads of the owners and future managers adds to the complex lawsuit of the Riva family which complains of having been expropriated and to the equally subtle and complex lawsuit of the Amenduni family, owner of 10% of the Ilva plant in Taranto.
Acelor–Mittal fell silent and let partner Marcegaglia speak; as well as to Giovanni Arvedi, his possible and hidden Turkish ally of Erdemir. Cassa Depositi e Prestiti reconfirms the possibility of financially joining the highest bidder as Del Vecchio also wants to do. For now, good intentions seem to pave Taranto's path. But those that appear easier can also lead to Hell. And the national mechanical and plant engineering industry cannot run this risk. In the two roped parties the national pivots do not appear entirely up to the challenge and expectations. It is true that the Indian Mittal can wave the flag of a record that leads him to be number one in the world but nothing says on the quantity of steel guaranteed in Taranto immersed in the Mediterranean and in Europe, in fact a competitor of many French plants and Luxembourgers who have long been part of the Group. And then, how will shareholder Marcegaglia contribute to the acquisition, restructuring and management? It is well known that the Mantuan industry has never produced a kilo of steel in its history but has calibrated its entrepreneurial story as a large buyer and transformer, imposing a procurement strategy ranging from market to market, from time to time according to the international price trends. Furthermore, the Group's recent accounts do not indicate entry into the tender with fresh capital and with investments supported by predictable cash-flow. It is easier to imagine a transfer of the assets to the historic Marcegaglia and a transfer of assets to the new company, of debts and credits, of assets and liabilities.
The same score applies to Giovanni Arvedi. Erdemir's Turkish allies have withdrawn from the front row, confirming an interest only after the horizons of the tender and the offers have been better clarified. On the other hand, even for the industrialist from Cremona, introducing traditional activities into the new company by adding those of Trieste's Servola and Vobarno seems to be the most realistic path after years of lean budgets and even more obscure industrial futures. We will see.
In the meantime, the traditional round steel industry in Brescia has taken some small but significant steps in terms of reducing production capacity and plant integration. The 300 million euro default of the Stefana Group was resolved with the closure of the large Ospitaletto steel mill. At the site (connected to the Milan-Brennero railway and on the edge of two motorways) the Esselunga di Caprotti will create the largest logistics and product treatment center for its commercial network. Thus more than a million tons of steel and rebar disappear to relieve the remaining groups. Feralpi was awarded the small section rolling mill in Nave, while the Montirone steelworks and its 300.000 meters of property were awarded to Alfa Acciai, which will be able to have a service and steel processing site outside the city and urban centres. scrap finally connected to the railway and able to considerably lighten the environmental, logistic and structural impact of the historic Volta plant.
