ThyssenKrupp intends to sell Italy's 130-year-old stainless steel plant
2 Jun 2020 14:56 reported by Ana Lee
The two major Italian steel producers Marcegaglia and Arvedi Group were still considering further business expansion even under the epidemic of Covid-19. It was reported that both of them were interested in acquiring Germany's ThyssenKrupp stainless steel producer Acciai Speciali Terni (AST) in Terni, Italy.
AST produces stainless steel sheets by using electric arc furnace technology. It is with a history of more than 130 years.
On May 20th, ThyssenKrupp issued a group restructuring plan, intending to cooperate with other companies or sell AST out.
Italian Minister of Economic Development Stefano Patuanelli confirmed that Marcegaglia and Arvedi were interested in acquiring AST. Considering the bad performance of previous foreign investors, this time the Italian government tended to the local companies to take over it, or the government will interfere in the transaction.
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