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ArcelorMittal reaches labour agreement with Ilva’s trade unions

ArcelorMittal announced that it has reached a provisional labour agreement with Ilva’s trade unions. The agreement is an important milestone in AM Investco Italy Srl (AM Investco)’s proposed acquisition of Ilva S.p.A (Ilva). The deal was inked in the presence of Deputy Premier and Labour and Industry Minister Luigi Di Maio. Geert Van Poelvoorde, CEO of ArcelorMittal Europe Flat Products, said “The agreement we have reached with Ilva’s unions meets the two major objectives we set out at the start of negotiations: to find an acceptable solution for every employee at Ilva; and to reach an agreement that reflects Ilva’s economic reality and provides a sound base for it to have a sustainable future. I would like to thank the Minister of Economic Development for his support and also the union representatives with whom we engaged during these discussions. They are a very important stakeholder and we will work to maintain a positive and constructive dialogue with them in the future.”

The key terms of the provisional agreement are as follows:

The labour agreement details a solution for every member of Ilva’s existing workforce.

ArcelorMittal has committed to initially hire 10,700 workers based on their existing contractual terms of employment.

In addition, between 2023 and 2025 ArcelorMittal has committed to hire any workers who remain under Ilva’s extraordinary administration.

The agreement will now be voted on by Ilva’s employees before being formally ratified.

Legal completion of the transaction and formal commencement of AM Investco’s lease and purchase agreement for Ilva is now expected on 1 November 2018.

Source : Strategic Research Institute
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ArcelorMittal completes transaction to acquire Ilva S.p.A. and launches ArcelorMittal Italia

ArcelorMittal announced that AM Investco Italy Srl’s transaction to acquire Ilva S.p.A. has completed. ArcelorMittal is the principal partner in AM Investco with a 94.4 per cent equity stake in the consortium, with Banca Intesa Sanpaolo holding 5.6 per cent. AM Investco’s lease and purchase agreement is effective from today 1st November 2018. Following completion of the transaction, ArcelorMittal has now assumed full management control of Ilva, which will form a new business cluster within ArcelorMittal Europe - Flat Products and be known as ArcelorMittal Italia.

Mr Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said “Closing the acquisition of Ilva is an important strategic step for ArcelorMittal. Ilva is a quality asset that provides a unique opportunity to expand and strengthen our European presence by acquiring Europe’s single-largest steelmaking site. It is a compelling value creation opportunity for ArcelorMittal, that fits our objective of selectively investing in growth projects where we can leverage our operating expertise to grow Ebitda and free cash flow over the long-term. We have a strong history of rehabilitating under-performing assets. I am confident that we will prove successful in restoring Ilva’s operational, financial and environmental performance and, in doing so, create value for our company, Ilva’s stakeholders and the Italian economy.”

Source : Strategic Research Institute
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ArcelorMittal aims to make Ilva top in Europe

ANSA reported that ArcelorMittal CEO Matthieu Jehl said that the group aimed to make its Italian branch the best in Europe as concerns environmental sustainability, security and performance. He was speaking to journalists in Taranto at the ILVA steel plant during the presentation of the industrial and environmental plan for the group.

He added that "Production will rise from 4.5 million to 6 million tonnes but there is no tonne of steel to be produced that is worth it if we cannot go home healthy. Security, health and the environment are pillars for us alongside production performance.”

ArcelorMittal got the OK for a takeover of ILVA, which was placed in the hands of government-appointed administrators after being at the centre of environmental scandal linked to high cancer rates in the Taranto area, earlier this year.

Source : ANSA
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How ArcelorMittal plans to put Ilva back

ArcelorMittal's management believes strongly in the potential of its newly acquired Italian branch. On December 11, the group unveiled in Paris its roadmap to make the worst steel mill in Europe a site of excellence.
How ArcelorMittal plans to put Ilva back ArcelorMittal has launched the major renovation and transformation project of the Ilva steelworks in Taranto (Italy). © ArcelorMittal

It must be admitted, in 2015, at the announcement of his interest in Ilva and its steel plant in Taranto (the most polluting in Europe), we grimaced. A bit like when a real estate agent tells us about enormous potential in front of an apartment visibly eaten away by moisture or termites. Four years later, Mathieu Jehl, CEO of ArcelorMittal Italia, and Aditya Mittal Group Chairman, do not stop there: Ilva is "a strategic asset for ArcelorMittal" . This costly acquisition serves two purposes: to position itself strongly in the Italian market, Europe's second largest steel consumer, and to concentrate production on large-scale sites. Ilva is the largest integrated steel mill on the continent.

Admittedly, 2.4 billion euros of capex for a steel plant that leaks as many pollutants as cash is expensive. The sum is so enormous that it has to be brought back to a more reasonable scale to grasp its magnitude. This is more than a million euros invested every day by 2024. But it is the effort needed to put Ilva back to the level of environmental and economic demands of the steel group.

Discount to environmental standards

The first goal is to stop the bleeding. Not financial (we'll see that it is promised to a quick end anyway), but reputation. It all starts with the identification of risks and the training of staff. Of the 13,800 employees of Ilva, ArcelorMittal rehire 10,700. That is 260 contracts to sign daily by January. In November and December, 7,500 employees will have attended the safety training, the group's operational tools and information campaigns are put in place on protections and risky behavior.

At the same time, work on environmental compliance of the site is progressing rapidly. They represent half of the total reinvestment of ArcelorMittal, or 1.15 billion euros. Half a million a day. The raw material storage facilities are being covered by a huge structure for an amount of 300 million euros. A project "unique in Europe", says ArcelorMittal. The operation is expected to be completed by the end of 2019 for the iron ore park by May 2020 for the coal (coke and thermal) facility. This will also be the case for conveyors. "All buildings and equipment from which dust will escape will be closed," promises Mathieu Jehl.

The sealing, recovery and treatment of runoff and process water are dedicated to 167 million euros. Filters will be installed on the chimneys of the agglomeration units (by 2021 for the first and 2022 for the second) to reduce emissions of dust, metal particles and dioxins below the European thresholds (35 million euros ). The coking plant will be fully restored to the highest standards (desulphurization of coke oven gas in particular) for 200 million euros. Lastly, the Fire Prevention Plan is allocated 40 million. The balance is allocated to various environmental improvements.

Stop the financial bleeding

On the roadmap of ArcelorMittal for Ilva, the stop of the operational losses intervenes as of 2019. A challenge, for a company which lost until then 20 to 25 million euros per month. Beyond this horizon, it will be working on the incremental improvement of operational excellence. In the longer term, ArcelorMittal intends to deploy, in Italy as elsewhere, the pilots currently developed in R & D (charcoal, ethanol, hydrogen ...) to go towards a carbon-free steel. If confirmed, such a turnaround will dream more than one industrialist. The target set is to reach by 2019 a production of 6 million tons of crude steel.

To achieve this goal, the group put the means. It allocates 1.25 billion euros of risk capital to operational improvement. Among the major investment stations, blast furnaces and converter will swallow some 350 million euros, the mechanical upgrade and automation of the finalization of products 250 million, the power plant 60 million ...

"The three levels of our activity - buying, producing, selling - have been questioned and will be optimized," says Mathieu Jehl. "Ninety percent of the problems in Ilva have already been encountered elsewhere in the group ," says the leader, " Rather than reinventing the wheel, we will be importing solutions .

Source : Strategic Research Institute
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3 ILVA commissioners quit

ANSA reported that 3 commissioners overseeing a clean-up and revamp of the huge, troubled and polluting ILVA steel plant at Taranto in Puglia on Tuesday presented their resignations to Industry Minister Luigi Di Maio. Di Maio said “The resignations will take effect on June 1.Two new extraordinary commissioners will be named shortly.”

Di Maio issued a statement thanking Corrado Carrubba, Piero Gnudi and Enrico Laghi for their work.

He also said “Phase two of the commissioners project, in which we will plan and realise the future of Taranto, is now opening up. This will focus on the environmental clean-up activities and the economic and social relaunch of the local area."

Di Maio, who is also deputy premier and labour minister, said the permanent institutional talks on the plant led by the industry ministry would start on Wednesday.

The Taranto plant, which has been linked to high local cancer rates, is the largest steel plant in Europe.

Source : ANSA
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Italy appoints 3 new commissioners for former llva plant

Italy's minister of economic development appointed new commissioners of extraordinary administration for the former llva plant. The new commissioners are Francesco Ardito, lawyer and director of AQP SpA, Antonio Cattaneo, head of Deloitte Forensic, and Antonio Lupo, lawyer.

The appointments will be in force from June 1.

New commissioners will monitor ArcelorMittal Italia’s activity ensuring that ArcelorMittal meets its commitments made during former llva’s takeover.

Source : Strategic Research Institute
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ArcelorMittal Italia To Layoff 1400 Workers at Taranto Steel Plant

ArcelorMittal Italia announced lay offs of 1400 workers at the former ILVA steel plant at Taranto for 13 weeks. ArcelorMittal Italia CEO Matthieu Jehl said "It's a difficult decision, but market conditions are critical all over Europe. I am keen to stress that they are temporary measures and that steel is a cyclical market."

ArcelorMittal has already informed Italian national and local unions and it will meet them on Thursday to provide further details

ArcelorMittal as earlier said ArcelorMittal Italia will produce 5 million mt of crude steel in 2019, down from the 6 million tonnes previously planned for this year.

Source : Strategic Research Institute
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Taranto Residents Rise Up Against ArcelorMittal Italia

DW reported that parents in the southern Italian city of Taranto are taking on the ArcelorMittal Italia steelworks they say is polluting the air and killing their children. In January, Angelo Di Ponzio lost his 15 year old son. Giorgio died from a soft tissue sarcoma, a degenerative phenomenon linked to prolonged exposure to dioxin in the air. Mr Di Ponzio told DW that "A genocide is unfolding before our very eyes, and the world knows nothing about it. His son is just one of many to have fallen victim to air pollution in his hometown of Taranto, in the Puglia region of Italy's Deep South.”

After almost six decades as a factory town, it's only now that residents of Taranto are speaking out against an industrial side-effect the post-war generation long overlooked.

Conceived as a state owned property in 1961, privatized by leading steel company Riva Group in 1995, and acquired by private Indian company ArcelorMittal last year, the ArcelorMittal Italia steelworks, which is known locally as ex-Ilva, sprawls over 1,500 hectares of flatland, making it Europe's largest.

Source : DW
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ArcelorMittal bezorgd over nieuwe Italiaanse wet

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,474 0,192 1,26 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal heeft zijn bezorgdheid over een nieuwe Italiaanse wet kenbaar gemaakt aan de Italiaanse regering. Dit bleek woensdag uit een toelichting van de staalfabrikant.

Volgens ArcerlorMittal vervalt door het zogeheten Crescita-decreet de juridische garanties die in 2017 werden afgesproken tussen ArcelorMittal en de Italiaanse regering toen de staalfabrikant ermee instemde om in de fabriek in Taranto te investeren.

Deze garanties zijn noodzakelijk totdat de ArcelorMittal het milieuplan heeft voltooid om te voorkomen dat het aansprakelijk wordt gesteld voor problemen die zij niet heeft veroorzaakt, aldus de staalfabrikant.

ArcelorMittal heeft voor meer dan 1,15 miljard euro aan milieu-investeringen in de fabriek gepland. De uitvoering van het overeengekomen plan verloopt volgens schema, aldus de staalfabrikant.

Het wetsvoorstel zal vermoedelijk voor 29 juni in een definitieve wet worden omgezet.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Taranto Child Leukemia Admissions Up – Mr Grillo

ANSA reported that Italian Health Minister Giulia Grillo told that leukemia admissions for children aged zero to 19 in the area of the former ILVA steel plant in Taranto showed an increasing trend in 2014-2017

Cancer rates have been above the national average for years around the formerly high-polluting ILVA plant, which is now run by ArcelorMittal.

The Italo-Indian consortium is conducting an environmental clean up and industrial revamp to clean the local air while preserving jobs at the plant, the biggest steel factory in Europe.

Source : ANSA
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ArcelorMittal overweegt sluiting vestiging zuiden Italië - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
16,182 0,472 3,00 % Euronext Amsterdam

(ABM FN-Dow Jones) ArcelorMittal zal mogelijk zijn vestiging in het Italiaanse Taranto sluiten als het zijn juridische garanties die dateren uit 2017 verliest en daarmee niet meer immuun is voor de milieuwetgeving. Dit schreef de Italiaanse krant La Repubblica woensdag waarbij deze zich baseerde op uitspraken van Geert-Maurice van Poelvoorde, die bij de staalreus verantwoordelijk is voor de staalplaatproductie in Italië.

Volgens ArcerlorMittal vervalt door het zogeheten Crescita-decreet de juridische garanties die in 2017 werden afgesproken tussen ArcelorMittal en de Italiaanse regering toen de staalfabrikant ermee instemde om in de fabriek in Taranto te investeren. Deze garanties zijn noodzakelijk totdat de ArcelorMittal het milieuplan heeft voltooid om te voorkomen dat het aansprakelijk wordt gesteld voor problemen die zij niet heeft veroorzaakt, aldus de staalfabrikant.

Arcelormittal is tot 6 september dit jaar immuun voor de milieuwetgeving. Als deze termijn niet wordt verlengd, dan zal de staalreus mogelijk besluiten de fabriek te sluiten, aldus La Repubblica. Volgens de krant wil de Italiaanse vicepremier Luigi Di Maio op 4 juli met ArcelorMittal aan tafel zitten om hierover te spreken.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Stilleggen grootste staalfabriek Europa dreigt

Gepubliceerd op 28 jun 2019 om 08:07 | Views: 2.471

ArcelorMittal 09:12
15,72 -0,04 (-0,24%)

TARENTE (AFN/BLOOMBERG) - Europa's grootste staalfabriek in het Zuid-Italiaanse Tarente dreigt te worden stilgelegd vanwege een besluit van de Italiaanse regering voor strengere milieuregels. Volgens staalconcern ArcelorMittal zou het hierdoor onmogelijk zijn om de fabriek na 6 september in bedrijf te houden.

Er wordt wel gewerkt aan het schoner maken van de vervuilende locatie, maar dat zou pas in 2023 klaar zijn. Het aan de beurs in Amsterdam genoteerde ArcelorMittal kocht de fabriek vorig jaar nog voor 1,8 miljard euro van de Italiaanse staat.

"ArcelorMittal staat open voor een dialoog met de overheid en blijft hopen op een bevredigende conclusie die het bedrijf in staat zal stellen verder te blijven investeren in de Italiaanse staalindustrie," meldt het concern. De grootste staalmaker ter wereld beloofde eerder bijna 2,4 miljard euro te investeren in zijn Italiaanse activiteiten. Daarvan gaat 1,2 miljard euro naar het opvijzelen van de milieuprestaties.

Problemen

De fabriek in Tarente veroorzaakt al jaren problemen. Daarom waren er met ArcelorMittal afspraken gemaakt over wettelijke bescherming bij milieuschade door de hoogovens. Tot de modernisering is afgerond mocht de fabriek alleen blijven draaien omdat de overheid het bedrijf wettelijk beschermde tegen aansprakelijkheid voor de giftige uitstoot. Maar het bewuste overheidsdecreet uit Rome zet een streep door die afspraken.

De krant La Repubblica meldde donderdag dat de Italiaanse vicepremier Luigi Di Maio waarschijnlijk volgende week gaat praten met ArcelorMittal. Zijn partij, de eurosceptische protestpartij M5S (Vijfsterrenbeweging), voert al lang campagne om de vervuilende fabriek te sluiten. Maar Di Maio zou volgens La Repubblica toch nog ruimte zien voor een oplossing.
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Arcelor neemt laatste horde voor aankoop Ilva

Gepubliceerd op 1 jul 2019 om 08:30 | Views: 2.258

ArcelorMittal 12:37
16,23 +0,50 (+3,15%)

LUXEMBURG (AFN) - Staalgigant ArcelorMittal heeft de verkoop van onderdelen aan branchegenoot Liberty House Group afgerond. Hiermee is in totaal 740 miljoen euro gemoeid. Die afstoting was voor Arcelor de laatste horde voor de inlijving van de Italiaanse staalfabrikant Ilva.

Het gaat onder meer om de afwerkingslijnen rond Luik en de Luxemburgse dochteronderneming ArcelorMittal Dudelange. ArcelorMittal en Liberty House bereikten eveneens een akkoord over de overname van activiteiten in België, Luxemburg, Tsjechië, Roemenië, Macedonië en Italië.

Brussel gaf in april groen licht voor de afstoting. Bij de Europese Commissie waren aanvankelijk twijfels gerezen over de houdbaarheid van de deal, mede omdat die voor een groot deel met geleend geld zou worden gefinancierd. Nadat Liberty House had toegezegd meer eigen kapitaal te gebruiken voor de aankoop, ging de Commissie alsnog akkoord.

ArcelorMittal heeft al 610 miljoen euro ontvangen van Liberty House. Het bedrijf moet 110 miljoen euro borg storten om door Liberty House te worden gebruikt voor bepaalde investeringsprojecten als onderdeel van het goedkeuringsproces van de Europese Commissie.
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ArcelorMittal Blackmailing Government - Mr Luigi Di Maio

Italy’s industry minister Mr Luigi Di Maio has ArcelorMittal, of trying to blackmail the government He said “If somebody wants to side with Atlantia or with Arcelor Mittal which are blackmailing the state and asking for legal immunity, when in the case of ArcelorMittal they are threatening to close the steel plant, I stand with the workers and we will never side with multinationals that blackmail the state.”

ArcelorMittal has warned it could be forced to close the Ilva plant after Italy scrapped the legal immunity granted by previous governments to ease a purchase of the ailing southern Italian plant

ArcelorMittal had earlier said “Its Italian subsidiary ArcelorMittal Italia has highlighted to the Italian government its concerns about the current text of the Crescita law decree. If ratified as currently drafted, the provision concerning the Taranto plant would impair any operator’s ability to operate the plant while implementing the environmental plan approved by the Italian Government in September 2017, including for ArcelorMittal. The Taranto plant has been under seizure since 2012 and cannot be operated without legal protection until the environmental plan is implemented.”

Source : Strategic Research Institute
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'Maatregel gaat fabriek Arcelor beschermen'

Gepubliceerd op 5 jul 2019 om 08:53 | Views: 247

TARENTE (AFN/BLOOMBERG) - Het Italiaanse ministerie van Financiën broedt op een maatregel waardoor de grootste staalfabriek van Europa, in het Zuid-Italiaanse Tarente, niet stilgelegd hoeft te worden. Dat meldt de krant Il Sole 24 ore.

Het stilleggen dreigt juist door een besluit van de regering voor strengere milieuregels. Volgens fabriekseigenaar ArcelorMittal zou het hierdoor onmogelijk zijn om de fabriek na 6 september in bedrijf te houden. Er wordt wel gewerkt aan het schoner maken van de vervuilende locatie, maar dat zou pas in 2023 klaar zijn. Het aan de beurs in Amsterdam genoteerde staalconcern ArcelorMittal kocht de fabriek vorig jaar nog voor 1,8 miljard euro van de Italiaanse staat.

De fabriek in Tarente veroorzaakt al jaren problemen. Daarom waren er met ArcelorMittal afspraken gemaakt over wettelijke bescherming bij milieuschade door de hoogovens. Tot de modernisering is afgerond mocht de fabriek alleen blijven draaien omdat de overheid het bedrijf wettelijk beschermde tegen aansprakelijkheid voor de giftige uitstoot. Maar de strengere milieuregels zetten een streep door die afspraken.
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Team Inspects ArcelorMittal Italy Plant in Taranto to Verify Progress of Environmental Plan

Studio 100 reported that representatives of the General Environment Directorate of the European Commission, of the Presidency of the Council, of the Ministry of the Environment and of the Protection of the Territory and the Sea, of the Ministry of Economic Development, with the extraordinary Commissioners Francesco Ardito, Alessandro Danovi and Antonio Lupo were received at the ArcelorMittal Italy plant in Taranto for an inspection to verify the progress of the Environmental Plan works.

Subject of the visit, the Aia shipyards: in particular, the primary parks area, the disposal area of the Tank 93, the coking plant area, the South agglomeration park, the Afo4 stockhouse and the new landfills.

Source : Studio 100
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Kraanmachinist Arcelor Italië in zee gestort

Gepubliceerd op 11 jul 2019 om 11:02 | Views: 0

ArcelorMittal 10:31
14,52 -0,13 (-0,87%)

TARENTE (AFN) - Een kraanmachinist van de staalfabriek van ArcelorMittal in de Zuid-Italiaanse stad Tarente is vermist geraakt nadat een kraan zee was gestort. Zoekacties van duikers van de brandweer zijn tot nog toe tevergeefs.

Het ongeluk, dat woensdag plaatshad, werd veroorzaakt door zware windstoten in de haven van Tarente. Het aan de beurs in Amsterdam genoteerde ArcelorMittal liet via Twitter weten dat de brandweer om 23.00 uur is gestopt met zoeken, om de reddingsactie "zo snel mogelijk te hervatten".

Vakbond USB reageert kritisch op het ongeluk met de tachtig meter hoge kraan. Zo gebeurde in 2012 op vrijwel exact dezelfde plek in de een dodelijk kraanongeluk. Volgens de bond zijn sindsdien geen goede veiligheidsmaatregelen genomen om herhaling te voorkomen.
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