ArcelorMittal continues to race for Italian steel company Ilva

Italian Industry Minister Federica Guidi said ArcelorMittal is one of at least four or five companies interested in acquiring troubled Italian steel company Ilva. Federica Guidi said on the sidelines of the conference that "There are several international companies that have a particular interest in Ilva, but the largest steelmaker ArcelorMittal remains one of the players in a more advanced phase."

Gidi said there are currently at least four or five companies expressing interest, including ArcelorMittal, which are at a fairly advanced stage, adding that they have shown very serious intentions and have already scheduled consultations on the matter.

The Ilva complex, located in the city of Taranto, is the largest steel mill in
Europe in terms of production capacity. The plant is also considered one of the largest employers in southern Italy. Its existence is currently in jeopardy, as it suffers in monetary losses ranging from € 60 million to € 80 million per month, according to the Italian steel industry.

ArcelorMittal, in parallel with Ilva, is considering the acquisition of the second largest steel producer in Italy, Lucchini. "If ArcelorMittal makes the first official offer, it will probably include not all assets, but only a blast furnace, as there is already interest in a processing line from the Indian Jindal South West (JSW) Group," said Gianni Venturi, national Coordinator of the Italian Union FIOM CGIL.