According to Italian media reports, the management team of asset managers Luxembourg steel company ArcelorMittal in Italy leave their posts. It is precisely known that from Italy will leave chief operating officer WIM van Gerven, chief financial officer Steve the Vamps and chief operating officer Stefan van camp.
will Lead the operations of the metallurgical plant ILVA Loris pascucci - currently the head of the blast furnace, which will report directly to the Director General of the Italian division of ArcelorMittal Lucia Morselli.
market Participants interpretiruya this as the last step to withdrawal from the Italian market.
nevertheless, ArcelorMittal stated that it will continue negotiations with the Italian government and focused on finding solutions for a sustainable future of steel production in Taranto.
Previously reported that the Italian government and ArcelorMittal had to reach agreement by the end of January, but sources claim that this is unlikely to happen. The deadline is currently postponed to February 7, but the meeting planned between the Prime Minister of Italy and owner of ArcelorMittal Lakshmi Mittal at the world economic forum on 24-25 January in Davos, Switzerland, was cancelled.
In the market believe that after the departure of the ArcelorMittal steel plant in Taranto will be stopped and will not be able to produce products under the control of the government. Already today, customers who purchased steel, ILVA, are overpaid for their orders, in order to fetch the amount of metal before a possible shutdown.
as a result of the panic the price of metal products in Italy increased on average by 10 to 20 euros per ton.
