Italian sections producer Duferdofin, part of Duferco, has been renamed to Duferco Travi e Profilati after the exit of former US partner Nucor, Kallanish learns from a company statement.
The extraordinary general meeting gathered at the company’s steelworks in San Zeno Naviglio has appointed Franco Monteferrario and Augusto Mario Gozzi as Duferco Travi e Profilati president and chief executive respectively.
In December Duferco and Nucor signed the financial closing that ended their partnership in joint venture Duferdofin, owner of the San Zeno beam mill in northern Italy.
The Covid-19 pandemic and consequent cut in Nucor’s overall investment budget was at odds with Duferco’s intention to proceed with the already deliberated and approved €180 million ($218m) investment in San Zeno. The plant has a 1 million tonnes/year production capacity, Kallanihs notes. Nucor left its Italian joint venture with Duferco 12 years after its creation.