Global steel giant ArcelorMittal has announced that it has submitted an offer together with Italian steel company Marcegaglia for the acquisition of Italian steelmaker Ilva.
The offer includes a commitment by ArcelorMittal and Marcegaglia to improve Ilva’s environmental performance through the installation of the best available technology, bringing Ilva in line with European environmental standards and legislation; the intention to increase Ilva’s primary utilization rate, with crude steel production to rise from the current level of 4.8 million mt per year to over 6 million mt per year by 2020, and to maintain the operation of a minimum of three blast furnaces; a major capital expenditure program aimed at enhancing Ilva’s asset capabilities, increasing productivity levels and improving health and safety performance; and, the introduction of new, innovative and high value-added steel grades.
“Our industrial plan in the first instance centers on the three blast furnaces currently in operation. The aim is to invest to improve product mix, quality and productivity in order to return the plant to profitability. In the longer term, we will evaluate production volume increases based on market demand and the performance of the asset,” stated ArcelorMittal Europe Flat Products’ CEO Geert Van Poelvoorde.