ArcelorMittal and Marcegaglia want to acquire ILVA

ArcelorMittal and Marcegaglia have confirmed their bid to acquire the Italian steel mill ILVA and have unveiled plans to increase production and invest more than € 2 billion.

The companies announced that they intend to produce 9.5 million tonnes of finished products. Overall, for the purchase price of the plant, both companies want to invest 2.3 million euros. The three operating ILVA furnaces are expected to increase the output to 6 million tonnes of steel by 2018.

The volume of finished products should be increased to 4 million tonnes through the supply of slabs and hot-rolled coils. They want to increase the main production capacity of the company to 8 million tons, and in the long term, increase it by another 2 million tons. The increase in production will expand the range of products for the automotive, construction and energy industries.

ArcelorMittal and Marcegaglia predict that low-carbon steelmaking technologies are a priority. The announced investments amount to: € 1.1 billion for the improvement of the environment and € 1.2 billion for industrial investments, including the replacement of the furnace 5.