ILVA SpA
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ILVA SpA is the direct owner of ILVA Taranto, an integrated steel plant in Taranto, Italy.[1]
Background
History
ILVA was founded in Genoa on 1 February 1905, as Società Industria Laminati Piani e Affini (ILVA) with the goal of building a steel plant in Bagnoli, Italy.[2] In 1911 the company became part of the "Consorzio siderurgico" or "Ilva Consortium".[2] The company joined the Finsider group in 1937 and became the Italsider group in 1961.[2] In 1988, Ilva SpA was officially established in Rome, before splitting into two companies, Ilva laminati Piani and Acciai speciali Terni in 1993.[2] In 1995, the Riva Group purchased Ilva Laminati Piani from the Italian government.[3]
ILVA Taranto
Ilva owns the Taranto steelworks in southern Italy, which has produced toxic emissions of dioxin and elevated local cancer rates, and had been nationalized by the Italian government.[4] According data available in 2007, in 2005 the production of dioxin by the steel industry ILVA in Taranto accounted for 90.3% of the overall Italian emissions, and 8.8% of the European emissions.[5]
In 2012, an investigation for environmental crimes and pollution led the Taranto prosecutor to order the seizure of the Taranto hot plants without the right to use.[2] To safeguard the establishment and employment, the Italian government sought an international buyer for the plant.[3]
By March 2017, ArcelorMittal was leading a consortium bidding for Ilva.[6] The ArcelorMittal consortium was selected as the preferred bidder over a different consortium led by JSW Steel after it was able to pledge a production increase and guarantee employment levels. The final decision was waiting on Italy’s ministry of economic development.[7]
On June 5, 2017, ArcelorMittal won approval to purchase Ilva for €1.8 billion. The buyers were the AM Investco consortium, which beyond ArcelorMittal included Marcegaglia and Banca Intesa Sanpaolo. In its bid, AM Investco also pledged to make investments into Ilva of €2.4 billion until 2023.[4]
On November 5, 2019 ArcelorMittal announced its intention to withdraw from the transfer agreement, returning it to Ilva, in extraordinary administration, within 30 days[8]. Procedures to shut down the plant were started, then interrupted under legal and political pressure[9].
2020 - The return to the commissioners management
In 2020, ILVA returns to the commissioners management, under the protection of the penal shield, implementing all the modernization procedures and environmental sustainability of the Taranto plant.[10][11][12] [13]
Articles and resources
References
- ↑ Troubles at an Aging Steel Mill Mirror Italy's Own, New York Times, Jan. 7, 2020
- ↑ 2.0 2.1 2.2 2.3 2.4 Ilva, Treccani, Retrieved on: Nov. 5, 2019
- ↑ 3.0 3.1 History of the Riva Group, Steel on the Net, Retrieved on: Mar. 10, 2020
- ↑ 4.0 4.1 ArcelorMittal wins race to buy Italian steel business Ilva, Michael Pooler, Jun. 6, 2017, Retrieved on: Jun. 8, 2017
- ↑ Dossier PeaceLink version 1, Mar. 5, 2007
- ↑ Bidding race to win Europe’s biggest steel plant heats up, Michael Pooler & James Politi, Retrieved on: Jun. 8, 2017
- ↑ ArcelorMittal-led group leads race to buy Ilva steel plant, Michael Pooler, May 26, 2017, Retrieved on: Jun. 8, 2017
- ↑ "AM InvestCo Italy sends withdrawal and termination notice from the lease and purchase agreement for Ilva business". corporate.arcelormittal.com. Retrieved 2019-12-12.
- ↑ "A.Mittal has suspended furnace switchoff at Taranto steelworks - union - English". ANSA.it. 2019-11-18. Retrieved 2019-12-12.
- ↑ "Ilva, interviene la procura di Milano e i commissari fanno ricorso d'urgenza". milanofinanza.it. 16 November 2019. Retrieved 16 November 2019.
- ↑ "Ex-Ilva, i commissari denunciano Arcelor Mittal". ilsole24ore.com. ilsole24ore.com. Retrieved 16 November 2019.
- ↑ "Ex Ilva, ArcelorMittal spegne tutti gli altiforni: chiusura definitiva a gennaio". ilsole24ore.com. ilsole24ore.com. 16 November 2019. Retrieved 16 November 2019.
- ↑ "Ex Ilva, Conte: non consentiremo la chiusura, ArcelorMittal pagherà i danni". ilsole24ore.com. ilsole24ore.com. 15 November 2019. Retrieved 17 November 2019.
Related GEM.wiki articles
External resources
External articles
This page uses material from the Wikipedia page Ilva (company) under the provisions of the Creative Commons Attribution-ShareAlike 3.0 Unported License.
