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ArcelorMittal May Propose Conditional Solution for Ilva

Steel News - Published on Tue, 19 Nov 2019

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Il Messaggero daily reported that ArcelorMittal is drafting a plan to re-commit to the 2018 deal, under which it bought the troubled Ilva steel plant in southern Italy, on three conditions. As per report, after withdrawing from the contract ArcelorMittal is drafting a proposal for Italy's government in which it will demand the reintroduction of legal immunity, the possibility to revise its industrial plan and the layoff of 5,000 workers.

Il Messaggero said that Italian Prime Minister Giuseppe Conte has postponed a meeting with ArcelorMittal's Mr LN Mittal, due this week, hoping that a Milan court will already decide on an appeal filed by Rome last Friday.

The report added that economy minister Roberto Gualtieri is examining the potential entrance of state lender Cassa Depositi e Prestiti in the shareholding of the Franco-Indian company that manages Ilva.

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Posted By : Rabi Wangkhem on Tue, 19 Nov 2019
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