Former Ilva: Marcegaglia, we are in the due diligence phase – an interim but complex stage
‘Europe must not impose restrictions on slab imports’
(Il Sole 24 Ore Radiocor) - “We are in a complex situation. We have submitted a non-binding expression of interest and we are all carrying out due diligence together” with Italia’s 14 steel industry entrepreneurs “to understand what kind of project we might be able to take forward. We are still at a preliminary stage; we are examining a dossier which is, in any case, very complex.’ This was stated by Emma Marcegaglia, chair and chief executive of Marcegaglia Holding, on the sidelines of the Cernobbio Forum, regarding the interest in the former Ilva site. “The situation is not straightforward,” she added, “because we are faced with a ruling by the Court of Appeal which has effectively ordered the closure of the hot-rolling mill – which was, in a sense, the heart of Ilva, where the majority of direct employees and those in related industries were based. The question is what can be done within these constraints; we must also be very careful because, without the hot-rolling section, the only option today is to import semi-finished products, as they are not available in Europe. We must be very careful to ensure that Europe does not impose restrictions on imports of slabs, as this would spell the end of any project involving Ilva.’
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