Marcello Calcagni, managing director of Italy-based steel producer Lucchini SpA, has announced that the group is looking for a new shareholder to meet the company's needs. The objective is to identify a strategic partner by June 2012. Albeit in a very difficult economic environment, Lucchini has started exploration to identify such a partner, focusing on a solution for the entire Lucchini group, but not excluding different solutions which would ensure the future development of the single companies of the group.
The announcement was made during a meeting between Lucchini management and union representatives held in the northeastern city of Trieste, where Lucchini subsidiary Servola is based.
Lucchini is still struggling to restructure its debts of €770 million.