ArcelorMittal has apparently presented additional commitments to the Italian government in a bid to move along in its takeover of the Italian steelmaker Ilva, including environmental, social and strategic measures.
The initial purchase agreement for Ilva was signed in June 2017 but has met with opposition from several quarters since, including from Luxembourg deputy PM Etienne Schneider. As reported on Delano here, Italy’s new government was the latest to raise concerns.
“ArcelorMittal committed to promote the engagement of local suppliers where possible and pay all suppliers in full and on time. The group will also implement circular economy strategies and policies in its production processes, including maximizing the utilization of recovered secondary products in the form of process gases, scrap metals and slag.”
Other measures include a €10 million investment in R&D, as well as a commitment to cut CO2 emissions. An investment of €1 million per year over five years in support of the local community has also been offered.
The article quotes Geert Van Poelvoorde, CEO of ArcelorMittal Europe Flat Products, as saying,
“The critical element is implementation: the sooner we can begin implementing these initiatives the sooner we will deliver the improvements that are required by the Ilva business and its stakeholders. We remain optimistic about progressing the final stages of the transaction, including the successful conclusion to negotiations with Ilva's unions, and to completing the acquisition as soon as possible.”