Local goverment representatives have discussed the current situation at ArcelorMittal Piombino S.p.a., Italian subsidiary of global steel giant ArcelorMittal, with company's CEO Leonardo Nannipieri and with Jean Luc Maurange, CEO of Business Division South West of Flat Carbon Europe as well as vice president at ArcelorMittal. The company produces cold rolled, galvanized, color coated coils and tinplate in its three facilities located in Piombino, Avellino and Canossa.
According to local Italian media reports, the company's directors stated that the production facilities of the Piombino headquarters will remain idle for the whole month of August. Production will restart in September but with a halved workforce.
Another major development is that ArcelorMittal Piombino has announced that it is "informally talking with an Italian steel producer in light of a possible eventual sale of the enterprise. Local government representatives stressed that ArcelorMittal must guarantee activity levels at ArcelorMittal Piombino or clear the way for other operators willing to invest in the company." As reported by SteelOrbis, in late June market sources talked about possible interest from Italian steel producer Arvedi Group in the purchase of ArcelorMittal Piombino.