Italian steel group Lucchini has announced that on April 3 it inked the contract for the definitive sale of its key foundry Bari Fonderie Meridionali (BFM) to the Czech group DT - Výhybkárna a strojírna, as part of its debt restructuring plan. The Czech company is focused on designing and producing railway infrastructures.
Pierre Varnier, chief restructuring officer of Lucchini Group, commented, "The agreement will guarantee BFM's consolidation and development in the future, due to the cooperation with a group like DT."
BFM earns about €15 million in annual sales and employs about 100 people. BFM is the largest foundry in southern
Italy and the most important producer in
Italy of permanent railway superstructure materials, in particular crossings in cast manganese steel.