Speaking with Italian economic daily newspaper Il Sole 24 Ore, Mathieu Jehl, CEO of ArcelorMittal Italia, said that its Taranto-based plant, formerly known as Ilva, will be in the position to produce 6 million mt annually starting from the first half of 2019, and that the company aims to return to profit in the same year.
"We're in a ramp-up stage", said Mr. Jehl. "I think that the 6 million mt pace at Taranto will be reached starting from the first or second quarter of 2019," he affirmed.
Jehl added that the company's focus will be the automotive sector above all, with the aim of getting back historic clients such as FCA [Fiat Chrysler Automobiles Italy]. According to the new CEO, "Ilva has an enormous potential, as I can confirm after my first weeks inside the company." Concerning ArcelorMittal Italia's industrial plan, "We will spend €520 million on the first interventions in the next year," he added.
ArcelorMittal Italia is part of ArcelorMittal, the world's leading steel and mining company. Its integrated steel plant in Taranto is the largest single-site steelworks in Europe. AM Investco, ArcelorMittal's vehicle company, completed the transaction to acquire Ilva at the beginning of November. ArcelorMittal is the principal partner in AM Investco with a 94.4 percent equity stake, with Italy's Banca Intesa Sanpaolo holding 5.6 percent.