ArcelorMittal optimistic about acquisition of Ilva

Wednesday, 01 August 2018 17:54:44 (GMT+3)   |   Brescia

Global steel giant ArcelorMittal remains optimistic regarding the acquisition of Italian steel producer Ilva, stated Aditya Mittal, president and chief financial officer of the group during a conference call with analysts concerning the group's half-year results. Mr. Mittal foresees that they will be close to beginning operations in the middle of September, while he reaffirmed ArcelorMittal's commitments and proposed improvements in terms of the environment. "We have presented an important plan, both from an environmental and a social impact point of view, and we believe we are the right partner for the revival of Ilva," the ArcelorMittal president added.

As previously reported by SteelOrbis, ArcelorMittal said on July 24 it accepted new conditions set by the Italian authorities for the purchase of troubled steelmaker Ilva, in a move that could facilitate its acquisition of Europe's largest steel plant.

At the end of June, the special commissioners for Ilva had decided to take advantage of a clause in ArcelorMittal's initial lease agreement to postpone the date on which the steel giant will be able to take over the plant. ArcelorMittal should have closed its purchase of Ilva by June 30, but now the deadline for the closure of the purchase is September 15 this year.

Most Recent Related Articles

Italian government grants ArcelorMittal ten days to present its industrial plan for Ilva

Local scrap prices recover in Germany in May

Prices decrease in Italian rebar market

Italian crude steel output collapses in April

Italy’s ThyssenKrupp Acciai Speciali Terni to extend its shutdown