The extraordinary commissioners of Ilva, in extraordinary administration, Piero Gnudi, Enrico Laghi and Corrado Carrubba, opened the envelopes and began examining the two offers presented for the acquisition of the Ilva Group business complexes. Two contenders, Am Investco Italy on one side and AcciaItalia on the other
The bids were sent to the financial advisor of the extraordinary administration procedure, Rothschild, for the formalities connected with the procedure.
The joint venture Am Investco Italy formed by the Marcegaglia group and ArcelorMittal is ready to put 2,3 billion of investments on the plate for Ilva. The offer presented by the consortium plans to produce 9,5 million tons of finished products and puts in writing the commitment to build a research and development center in Taranto as well as implement new technologies for the production of low-carbon steel carbon.
“We believe that the consortium made up of ArcelorMittal and Marcegaglia constitutes the best partner ever for Ilva – said Lakshmi N. Mittal, president and CEO of ArcelorMittal – Our managers and engineers have been studying the company for years and have an optimal understanding of the need for a turnaround of the results to ensure a solid, safe and sustainable future for Ilva employees and the population of Taranto. We are convinced that we have the right industrial plan, the correct environmental plan and the right commercial plan to support the transformation of Ilva into a company which, once again, will be a jewel of the Italian production landscape and which will bring value both to Italian economy and to all stakeholders”.
AcciaItalia – group formed by Jsw, Arvedi, Delfin, Cassa Depositi e Prestiti – has not yet communicated official details on today's offer. However, a few days ago, Sajjan Jindal, chairman of JSW, the Indian company is the majority shareholder of AcciaItalia, said he was ready to invest in a plan of several billion euros aimed at increasing Ilva's production to 10 million tons , maintaining the current production from blast furnaces, but also creating electric furnaces fed with pre-reduced, in order to guarantee a lower environmental impact of the activity.
