GoSource Italy, a part of US-based SANGRAF International, has come into possession of the Narni graphite electrode production site in central Italy with the formalization, in recent days, of the transfer of ownership of the so-called Narni 2 area, previously owned by Sgl Carbon.
The sale and purchase agreement, signed in July 2017, provided that GoSource would acquire the ownership of the area only after reclamation of the land on which the production site is located. This condition was recently fulfilled with the issue of the certificate of reclamation by the provincial authorities in Terni, Italy.
GoSource Italy is now ready to restart electrode production. Company CEO Luca Stinchelli stated, "We anticipate a quick restart though subject to the fact that the plant has been stationary for more than two years and needs a series of maintenance activities that we have already started to take advantage of, also because in recent weeks we have already mapped the critical issues. We are also proceeding with personnel selection; we have received lots of applications and there are other positions open. Shareholders were very favorably impressed by the attention of the region in relation to our productive activity, and we hope to respond to the sensitivity of the community by quickly starting up production."
As stated by the company earlier this year, its objective is to invest around €30 million over a three-year period, during which it expects to reach an annual production of 30,000 metric tons of electrodes, with 100 employees.