Italy: towards state supervision of the former Ilva steelworks, owned by ArcelorMittal

Public investment company Invitalia asked the Italian Enterprise Ministry on Sunday afternoon to place the struggling Ilva steelworks under state supervision, following the refusal of its main shareholder, ArcelorMittal, to inject new money into it. As long as ArcelorMittal “has no intention of investing in the company, I think it is fair that the country appropriates the fruit of its work and the sacrifice of entire generations,” previously stated the Minister of Business, Adolfo Urso.

Invitalia writes in a statement that in recent months it has made “every possible effort to reach an agreement with the private partner”, before pointing out ArcelorMittal’s “refusal” to “contribute to guaranteeing the continuity” of this steel mill located in Taranto (south). . Consequently, Invitalia “presented today to the Ministry of Business a request for technical and administrative evaluations” with a view to the “extraordinary administrative procedure of Acciaierie d’Italia.”

Sector unions invited to a meeting with Adolfo Urso on Monday night

Manager of the steel mill, one of the largest in Europe, Acciaierie d’Italia is 62% controlled by ArcelorMittal and 38% by the Italian State. Under this so-called “extraordinary administration” regime, the government appoints commissioners responsible for managing the company and preparing a rescue plan while awaiting the arrival of a new investor.

According to Invitalia, ArcelorMittal also refused to “dissolve the joint venture in a balanced manner and in accordance with current regulations”, in the context of “a crisis situation” that is not the responsibility of the public sector. The sector’s unions are invited to a meeting in Rome on Monday afternoon during which Adolfo Urso will inform them of the scenario prepared by the government that will allow the steel plant to maintain its activity and safeguard its thousands of jobs.

ArcelorMittal took over the Ilva group in 2018, with 10,700 employees, including 8,200 in the highly polluted area of ​​Taranto, already under state administration since 2015 after a series of financial and legal setbacks. The manager Acciaierie d’Italia announced on Sunday evening that she had submitted a new application to benefit from precautionary measures to protect her from creditors, after her first application in this regard was rejected on Friday by the Milan court.