Bidders for Ilva Haven’t Confirmed Interest
Due to concerns and controversy surrounding pollution, there has been talk of Europe’s largest steel manufacturer Ilva being bought out. The Italian company which specializes in flat steel products mainly for the automotive industry has been losing money and is facing big financial troubles. There are supposedly other companies looking to acquire the struggling steelmaker but not all have been confirmed.
A spokesperson for Brazil’s group CSN did not comment on having interest in Ilva – despite past comments about looking for a new source of assets on an international scale in order to continue the process of making the company global. There was also word from two senior sources within the company who feel that the possibility of acquiring Ilva was not on the horizon.
Emirates Steel, an Abu Dhabi steel producer, was originally reported to have interest in the Ilva’s assests but has since denied plans to pursue it.
However there is one company that has confirmed interest in Ilva. ArcelorMittal, who working with partners Marcegaglia – an Italian re-rolling company, is one of the parties that has stated their desire to possibly buy out Ilva.