The public company files an application for Acciaierie d'Italia. Arcelor Mittal responds with a request for a pre-packaged insolvency arrangement.
Invitalia has submitted a request to the Ministry of Enterprises and Made in Italy to initiate the extraordinary administration procedure for Acciaierie d'Italia Spa. The move comes after months of attempts at dialogue with the private partner Arcelor Mittal, which have proven fruitless.
The public company has acknowledged Arcelor Mittal's unwillingness to contribute financially to ensure business continuity or to dissolve the joint venture in a balanced manner. Immediately after the announcement, Arcelor Mittal filed a request for a composition with creditors with reservation, in what is being described as an act of legal obstructionism.
The Ex-Ilva dispute represents one of the most complex chapters of Italy's industrial crisis. Acciaierie d'Italia, born from the joint venture between ArcelorMittal and the state through Invitalia, manages the former Ilva plants in Taranto and other sites. The company's crisis is long-standing, with production, environmental, and financial problems.
The standoff between the public side and the private partner has dragged on for months, with the government trying to find a solution to safeguard production and jobs. Invitalia's request for extraordinary administration marks a breaking point, indicating the exhaustion of possibilities for an agreement and opening a new, uncertain phase for the future of the plant and its employees.
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