The Taranto-based Italian steel plant Ilva which is in extraordinary administration and ArcelorMittal today, March 4, signed an agreement that on the one hand ends the dispute between the parties at the Court of Milan and, on the other hand, modifies the contract for the management of the rent and acquisition of the steel group. The hearing for the urgent appeal filed by the extraordinary commissioners for the Ilva plant to prevent ArcelorMittal exiting its takeover of the facilities had been scheduled for March 6 at the Court of Milan.
The new agreement gives time until the end of November this year to resolve some difficult issues such as the involvement of the Italian state in the company's capital, its industrial plan, the intervention of public companies and banks, environmental measures, and an agreement with labor unions on employment.
Local unions criticized the agreement because "it foresees a deadlock for 2020".
"We've done everything we needed to do. It is not time to comment. A lot of work has been done and there is a lot to do afterwards," said Alessandro Danovi, one of the extraordinary commissioners for Ilva.