The closing for Arvedi’s acquisition of stainless steel mill Acciai Speciali Terni (AST) will happen in January 2022, Arvedi founder Giovanni Arvedi said at this week’s Made in Steel event attended by Kallanish. He did not however comment on speculation among sources that Arvedi is mulling a stock exchange listing.
Arvedi revealed that a business plan for AST will be disclosed after the closing takes place. So far, he stated, the parties are still at the “signature” phase and added that his plan is to enhance the mill’s domestic and international competitiveness.
Thyssenkrupp agreed to sell AST to Arvedi last month (see Kallanish 16 September). While no purchasing price was revealed, Arvedi is said to intend to retain the entire workforce of 2,700 people and invest a considerable sum in the steelmaking environmental footprint.
AST generated sales of around €1.7 billion ($2 billion) in fiscal year 2019/2020. Thyssenkrupp said it is examining a possible minority shareholding in the firm.
Natalia Capra France
