ThyssenKrupp's Acciai Speciali Terni may attract six bidders

Tuesday, 30 June 2020 14:10:54 (GMT+3)   |   Brescia
       

Italian stainless steel producer Acciai Speciali Terni (AST), currently owned by German steelmaker ThyssenKrupp, could be targeted by six bidders, AST CEO Massimiliano Burelli has told local Italian media. As reported by SteelOrbis last month, the parent company, announcing a deep restructuring plan, put the Terni-based plant on the market, looking for a partner or a buyer for the site. About ten days ago, the executives of the largest Italian steel processor Marcegaglia Group met local institutions in the Italian region of Umbria to talk about their interest in AST. However, Mr. Burelli indicated that, besides Marcegaglia and the Cremona-based Arvedi Group - which is the main Italian flat steel producer after the Ilva plant, two other foreign groups have submitted their expressions of interest, and "as far as we know” two other foreign companies are preparing expressions of interest. The AST CEO sought to underline that everyone will have equal opportunities in the tender process and that no one is starting with an advantage.

Due to the pandemic crisis and the consequent slowdown in the automotive and household appliance sectors, AST recorded sales decreases in April, May and June, Burelli stated.


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