Global steel giant ArcelorMittal said today, July 24, it has accepted new conditions set by Italian authorities for the purchase of troubled steelmaker Ilva, in a move that could facilitate its acquisition of Europe's largest steel plant.
ArcelorMittal has informed Ilva's special commissioners that "it accepts all requests for further commitments" within the scope of its plan to purchase the Taranto-based plant in southern Italy, it said in a statement.
The group said that "it is confident that these additional commitments will show the Italian government and other national and local stakeholders its full commitment to the responsible management of Ilva". ArcelorMittal "is confident that, with the support of the government, it will now be possible to finalize the agreement with the trade unions in the coming days so as to be able to quickly complete the operation". ArcelorMittal "is eager to implement its turnaround program in the shortest possible time in order to ensure a sustainable future for Ilva, its workers, its suppliers, its industrial customers and, at the same time, the protection of the environment and the well-being of local communities ".
ArcelorMittal did not provide details on the new conditions it has decided to accept, but these should mainly concern environmental measures and employment.