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Ilva (company)

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ILVA
IndustrySteel industry
Headquarters
Italy
ProductsSteel
OwnerItalian government
Websitewww.gruppoilva.com

Ilva is an Italian steelworks company.[1]

History

According to available data in 2009, in 2005 the production of dioxin by the steel industry ILVA in Taranto (Italy) accounted for 90.3 per cent of the overall Italian emissions, and 8.8 per cent of the European emissions.[2] Ilva owns the Taranto steelworks in southern Italy, which has Europe's largest steel output. The steelworks had been accused of toxic emissions linked to local cancer rates, and had been nationalized by the Italian government.[1]

By March 2017, ArcelorMittal was leading a constortium bidding for Ilva,[3] owner of Europe's largest steel plants.[4] In May 2017, ArcelorMittal was announced by Ilva as leading the race to bid for Ilva. 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.[4]

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.[1]

See also

References

  1. ^ a b c Pooler, Michael (June 6, 2017). "ArcelorMittal wins race to buy Italian steel business Ilva". Financial Times. United Kingdom. Retrieved June 8, 2017.
  2. ^ "Peacelink" (PDF). Retrieved 2009-01-31.
  3. ^ Pooler, Michael; Politi, James (March 5, 2017). "Bidding race to win Europe's biggest steel plant heats up". Financial Times. United Kingdom. Retrieved June 8, 2017.
  4. ^ a b Pooler, Michael; Politi, James (May 26, 2017). "ArcelorMittal-led group leads race to buy Ilva steel plant". Financial Times. United Kingdom. Retrieved June 8, 2017.
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