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Antonio Marcegaglia, interviewed by Siderweb, confirms his interest in deepening any new plants acquisitions

Interviewed by Siderweb, during Tube - Düsseldorf, Chairman Antonio Marcegaglia expressed his positive opinion about the possible acquisition of new industrial plants which will be probably dismissed by ArcelorMittal, complying with the European antitrust regulations.
The Chairman also confirmed the need to wait for «the pronouncement of the EU antitrust and our official exit from AM InvestCo Italia», as «the last word is up to the officials who have to reply by May 23rd».
About this last point Antonio Marcegaglia added: «once we have left the consortium, so that everything is done in the most absolute transparency, we will be entitled to carefully evaluate the possible purchase of some of the plants sold by ArcelorMittal», which are «functionalto integration with our industrial project vertically and horizontally».
Regarding the current situation, in which Marcegaglia group records 6% turnover growth in the first quarter of 2018 - versus Q1 2017 - Antonio Marcegaglia, confirming the positive trend of economic fundamentals and consumption in the user sectors, stated :«we have seen a price adjustment of 10/20 euro per ton, but in a stable path and starting from peak levels, with prices that remain medium-high. All supported by good level of demand and a more disciplined offer than in the past».
About the impact of US duties, he confirmed that «despite American politics, during the current Tube exhibition we have met many buyers from the USA, testifying to how Americans need steel»,adding: «I consider the motivation of "national security" at the basis of the provision a pretext:  steel prices are raised and the duties may damage the same American industry».
Regarding the tensions with the EU on the exemption, Antonio Marcegaglia expressed his positive opinion that «they can be overcome through a general revision of some of the bilateral agreements in force».

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