Italian steel manufacturer Arvedi S.p.
A. He intends to implement an investment program worth 82.5 million euros at his steel plant in Cremona, aimed at strengthening the technological capabilities of the company and expanding production towards higher-value-added steel grades for electrification and the automotive industry.
The Italian Ministry of Enterprises and Production has authorized the state investment agency Invitalia to sign a development agreement in support of the project, named ARVES. Government incentives can amount to up to 22.5 million euros, subject to an assessment procedure to be conducted by Invitalia on behalf of the Ministry.
Investments will focus on the development of non-grain-oriented electrical steel, or NGO steel, a strategic product used in the cores of electrical machines, including motors and generators. The brand is particularly relevant for industries related to electrification, as it is designed to improve magnetic performance and energy efficiency in applications where the magnetic flux is constantly changing direction.
In addition to the new product line, the project includes the introduction of technologies for the recovery and processing of recycled materials, as well as the modernization of the liquid steel vacuum treatment plant. Arvedi will also conduct research and development for the production of steels with a lower environmental impact for the automotive sector.
According to the Ministry, the project is considered strategic for the competitiveness of Italy's production system and for the sustainable development of the Cremona region. Investments are also expected to have a positive impact on employment.
This move will strengthen Arvedi's position in the field of advanced flat products at a time when demand from electromobility, energy efficiency, and automotive supply chains is increasingly driving investment in specialty grades of steel. Thus, the Cremona plant is expected to play a more important role in supplying steel to the domestic and European markets related to the energy transition.
Arvedi ended 2024 with consolidated revenue of 5.7 billion euros and net profit of 92 million euros, compared with revenue of 6 billion euros and net profit of 235 million euros in the previous year.
