Italian re-roller Marcegaglia is amongst those interested in acquiring troubled stainless steel producer Acciai Speciali Terni (AST), ceo Antonio Marcegaglia confirms to Kallanish.
Minister of Economic Development Stefano Patuanelli has also indicated local steelmaker Arvedi as another possible suitor. During a televised government meeting to discuss the current crisis of the Italian steel industry Patuanelli said there are also other international speciality steel producers interested in Terni. He added however that the option of Italian investors may represent a guarantee of longevity not necessarily available from foreign investors.
Meanwhile Terni trade unions are meeting authorities at the Ministry today, 28 May, to discuss the situation at AST. A union source says the plant needs significant investments that have not been implemented by thyssenkrupp and the commitment of a global steelmaker that will be able to see AST through the current crisis.
Last week thyssenkrupp announced that it is seeking either a partnership or a sale for its Italian subsidiary. Pursuing its restructuring strategy, the company is considering for certain assets “… the best prospects for the future – a place under the thyssenkrupp umbrella, in a partnership or outside the company. With this reassessment of the portfolio, we have taken some difficult decisions that were long overdue and will now implement them systematically. thyssenkrupp will emerge smaller but stronger from the transformation”, chief executive officer Martina Merz said in a note sent to Kallanish.