ArcelorMittal suspends shutdown procedures at former Ilva plant

Tuesday, 19 November 2019 11:44:43 (GMT+3)   |   Brescia

ArcelorMittal has suspended the shutdown procedure for its plants in Taranto, Italy. “Following the recent request by Ilva's Commissioners to the Court of Milan in order to obtain temporary measures related to the Taranto steel plant, AM InvestCo Italy acknowledges and welcomes the court's decision not to accept the request to issue an interim order without first having heard all the parties,” said ArcelorMittal Italia in a press release on the evening of November 18.

«AM InvestCo will follow the court's invitation to interrupt the implementation of the orderly and gradual suspension of operations pending the court's decision. This process is in line with international best practices and would not cause any damage to the plants and would not compromise their future operations,” ArcelorMittal added.

The extraordinary commissioners of the former Ilva steelmaking group had filed an appeal at a Milan court on November 15, stating that the legal conditions do not exist for the global steel giant ArcelorMittal to pull out of the takeover deal for the former Ilva group.

The suspension of the shutdown procedure may be only temporary as the court hearing is set for November 27.

Local unions have expressed their relief over the latest decision and hope this could be a first step to start “a serious negotiation to prevent an environmental, occupational and industrial disaster,” as stated by Rocco Palombella, secretary general of the UILM union.

Attention is now fully focused on the meeting which, according to rumors, should be held on Friday, November 22 between Italian prime minister Giuseppe Conte and Indian entrepreneur Lakshmi Mittal, chairman and CEO of global steel giant ArcelorMittal.

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