Marcegaglia, Arvedi, Posco & BaoSteel Eying Acciai Speciali Terni
Terni Today reported that the procedure for the sale of Acciai Speciali Terni, German Thyssenkrupp’s stainless steel manufacturing site in Italy, has come to life. A delegation from the Marcegaglia group visited the production site on 20 July and a tour was conducted at the Tubificio in the industrial area of vocabolo Sabbione. 21 July was the turn of the Arvedi group, while a date has not yet been set for the Posco and Chinese Baosteel delegations.
Within about ten days, the advisor JP Morgan, hired by ThyssenKrupp to follow the sale procedure, should receive the binding offers. The closing of the transaction is expected after the summer. The game for AST is played on three factors: industrial plan, available liquidity and employment guarantees.
Also Acciai Speciali Terni CEO Mr Massimiliano Burelli along with Personnel Director Mr Alessandro Rusciano and Plant Manager Mr Dimitri Menecali met the territorial secretaries of unions Fim Cisl, Fiom Cgil, Uilm Uil, Fismic, Ugl and Usb. The company management confirmed the opening phase two which will be completed with the visit to the plant of two other players, to arrive at the completion of the operation in October. Trade unions which asked guarantees on the scope of sale and on the future autonomy of the site, noted the absence of regional institutions and the Italian government.
Acciai Speciali Terni is market leader in Italy for Flat Rolled Stainless Steel Products. Acciai Speciali Terni Spa can boast a long industrial tradition with over 137 years of presence on the market and now ranks among the most important European integrated cycle steel plants. The company’s core business consists of flat rolled stainless steel products, for which AST is the market leader in Italy and one of the top four manufacturers in Europe. In addition to flat rolled steel products, the company produces electro welded stainless tubes, through its Tubificio Division, and forgings made of special steel, among the largest in the world, through its Forging Di