Due to the lackluster construction activity in Italy, Italian steelmaker Leali Group has decided to shut down its Roè Volciano, Brescia-based carbon steel rebar mill.
As previously reported by SteelOrbis, recent consolidated financial results of Leali Group have been negative. The group still retains important assets such as its Borgo Valsugana, Trento-based billet producing steelworks and its Odolo, Brescia-based special long steel rolling mill. Also, the electric arc furnace owned by Leali is working at a very reduced pace since demand has not recovered yet from the 2008 crisis.
The most likely scenario for Leali seems to be a voluntary bankruptcy petition in order to find agreement with creditors and prepare the group for a future sale.