The discussions about the potential assignment of management of Italian steelmaker Acciaierie d’Italia (ADI) to a third party are still going on between Luxembourg-based steelmaker ArcelorMittal and Italian state-owned investment agency Invitalia.
On one side, the Italian government - through Invitalia - is still pushing for extraordinary administration as ArcelorMittal had declared its will to divest from the project. On the other side, the company later reversed its decision to become a minority shareholder, as SteelOrbis previously reported. At the same time, though, the company claimed that it will act “according to the Italian government’s decision”.
During an interview given to an Italian newspaper in recent days, Lucia Morselli, CEO of ADI, said that the company is still alive and productive, although it is going through a tough time. Morselli stated that the company has had to face “Covid, the war in Ukraine, the lack of support from the government regarding energy costs […], and the Suez Canal crisis. This is not the easiest moment for anyone”.
Nevertheless, as Morselli stated, Acciaierie d’Italia produced about 3 million mt of crude steel in 2023, of which 2.5 million mt have been sold, and one million stocked. The real issue are the liquidity problems, as the company’s total debt amounts to €3.1 billion. This situation could lead to an interruption of gas supplies and, thus, of the plant’s production, as SteelOrbis reported earlier.
