The German group ThyssenKrupp announced the sale of the Ast di Terni Italian style Arvedi. The steel mill then returns to an Italian property. Arvedi was preferred to the group Marcegaglia and to the Chinese of and the Chinese of Baosteel who in turn had expressed an interest in the plant. The change of ownership includes the commercial organization in Germany, Italy and Turkey. “It was agreed – reads in the note presenting the agreement – of do not disclose the purchase price. The transaction is subject to the approval of Thyssenkrupp’s Supervisory Board and the authorization of the European antitrust authority ”. The German group
The closing of the sale of Ast to Arvedi “is expected within the first half of 2022 and Thyssenkrupp is examining the possibility of maintaining a minority shareholding in the Ast group “. The Terni steel mill has a turnover of 1.7 billion euros and employs around 2,400 people and specializes in the production of flat rolled products and stainless steel. Arvedi, founded in 1963 and still a family control, is mainly active in the production and processing of carbon and stainless steel. Arvedi currently employs 3,500 people and has announced significant investments in connection with the acquisition of Ast. The operation takes place in a particularly lively market phase for steel. Over the past year, prices have doubled due to the strong increase in demand triggered by the economic recovery. By contrast, Chinese production, the largest in the world, also declined due to the country’s efforts to contain CO2 emissions.
“We are confident to deliver Ast in good hands. During the negotiations, we were able to ascertain that Arvedi offers Thyssenkrupp’s stainless steel sector and therefore to you, dear colleagues and colleagues, better prospects for the future than “the German multinational itself: to say this, in a letter sent to around 2,300 Ast employees, is the board of directors of the German group. As for the timing of the perfection of the procedure, the letter reiterates that “the sale must still be approved by the competent European authorities in competition matters “.
“The government has followed the affair with due attention and discretion and today we are satisfied with the positive result of the sale of the AST. This conclusion represents an important step for the enhancement and the relaunch of Italian steel. We welcome that the ownership passes to an Italian group and we hope that this will also translate into a development of the industrial area and a protection for the territory concerned. We send our best wishes to the workers who can look to the future with confidence and to the company for its commitment and challenge “. Thus the minister of economic development Giancarlo Giorgetti. The president of the region speaks of an “important result for the workers, for Terni and for the whole of Umbria” Donatella Tesei according to which the sale “has a broader value and puts steel production at the center, relaunching the issue in our country. We welcome the transition to a large Italian industrial family ”.
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