After the European Commission's approval last December, the transfer of Acciai Speciali Terni (AST) from German Group ThyssenKrupp to Italy's Arvedi Group was signed yesterday January 31 in Essen, Germany. The acquisition also includes the commercial subsidiaries in Germany, Italy and Turkey. ThyssenKrupp will retain a 15 percent stake in AST "as a sign of continuity and trust", reads a statement released by Finarvedi, the holding entrusted with the strategic and operational coordination of the companies of Arvedi Group.
With this operation, Arvedi Group completes its production mix and consolidates itself among the main European steel players, reaching a turnover of €7.5 billion and counting 6,600 employees in Italy.
Yesterday, meetings of AST and its subsidiaries Terninox (Ceriano Laghetto), TK Stainless GmbH (Germany) and TK Turkey were held. Giovanni Arvedi and Mario Arvedi Caldonazzo became respectively the president and CEO of Acciai Speciali Terni. The directors are Giancarlo Stringhini, president of the stainless steel companies of Arvedi Group, and Mariano Pizzorno (CFO), with Dimitri Menicali (plant manager).
"Acciai Speciali Terni has an important history that is intertwined with the interest of our country; with humility we will do everything possible to give it the future it deserves," said Giovanni Arvedi. With the acquisition of AST, the new president continued, "Arvedi Group confirms itself as a strategic asset of the Italian industrial system and one of the main European steelmakers. Our commitment with AST will focus on competitiveness and environmental sustainability, through an investment plan focused on state-of-the-art plants, innovative technologies, research and development. Our commitment continues, as in the Cremona and Trieste sites, for decarbonisation also through the use of green hydrogen."
Volkmar Dinstuhl, CEO of ThyssenKrupp's Multi Tracks segment, wished AST and Arvedi "every success for the future", adding that the Arvedi Group "will lead the company's development with investments and innovations and will give employees interesting prospects."