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Marcegaglia and ArcelorMittal submit the offer for Ilva: production increase up to 9,5 million tons of finished products and further investments of 2,3 billion Euro

Marcegaglia, together with the India-based group ArcelorMittal (Am Investco), submits the offer for the acquisition of Italian steel-making company Ilva (Taranto) also counting on the support of Banca Intesa San Paolo. A great and unique operation that can change the European steel scenario.
A very important commitment for all the steel community with the clear objective – in the long period – to ensure a strong and safe future to Ilva bringing both know-how and a specialized contribution enhancing the company levels in terms of competitiveness, quality, safety and environmental performances.
The offer underlines the intention of the ArcelorMittal and Marcegaglia Consortium to increase the output of finished products from the current levels of 6 million tons/year up to 9,5 million tons/year by 2018 and to maximize the finishing capacity.
While looking, at the same time, at the environmental objectives introducing the utilization of the latest and new eco-friendly technologies available on the market and pledging to invest – besides the purchase price – 2,3 billion euros of which 1,1 billion euros to reach the best environmental performances in terms of air emissions and water treatment. In the R&D field, a first investment of 10 million euros is dedicated to the creation and building of a dedicated R&D centre in Taranto.
Moreover, the agreement includes the obligation for the two companies to expand the product range with targeted investments in high-quality products and through the development of new products for the automotive, construction, energy and OEM market segments.
Antonio Marcegaglia, Chairman and CEO Marcegaglia, added: “All this operation is oriented to re-affirm the central role of Ilva in the long-term strategy of ArcelorMittal. We are proud to participate to this project as the Italian partner particularly focusing on distribution and on the product verticalization. Ilva will maintain its full autonomy while enhancing its competitiveness”.
Lakshmi N. Mittal, Chairman and CEO ArcelorMittal, commented: "We strongly believe that ArcelorMittal and Marcegaglia Consortium is the best partner for Ilva. We are sure we have the right industrial, environmental and commercial plan to support the transformation of Ilva into a new company that will be – once again – a precious jewel into the Italian steel manufacturing panorama, also adding value to the Italian economy and to all stakeholders”.
Read more on: Metal Bulletin, FT, The Economic Times, RTT NEWS, NDTV, The Hindu Business Line, Engineering News, Seeking Alpha  

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