This is a new episode in the tormented history of the Taranto steelworks (Italy). Monday, February 19 in the evening, the presidency of the Italian council announced the placing under state supervision of this historic site in southern Italy, after a persistent dispute between the government and ArcelorMittal, the main shareholder of Acciaierie d’Italia. , the old Ilva. A procedure which should result in the arrival of an extraordinary administration, headed by a commissioner who will be appointed shortly by the executive, has begun. By following a financial consolidation plan, the company will be able to remain operational and thus avoid thousands of layoffs. The Italian government should also look into the fate of companies dependent on the factory’s activity, suppliers and subcontractors, who will be able to access an announced fund of 10 million euros, pending the resumption of activities.
In a letter sent to Invitalia, the Italian state investment company which controls 38% of the former Ilva, ArcelorMittal (62% shareholder of Acciaierie d’Italia) declared that it was “surprised and disappointed” by its decision to ask the government to initiate the process of placing it under administrative supervision without informing it, thus denouncing a “serious violation of the investment agreement”. The conflict between the Franco-Indian steel giant and the Italian government over the company, which is experiencing serious liquidity problems and which has had to shut down most of its blast furnaces, is, however, nothing new. new: Rome criticizes ArcelorMittal for no longer investing on the site.
The government had already issued a decree in 2023 allowing this type of supervision for any company considered strategic, and in which the State is at least 30% shareholder. On February 2, the Milan court ruled in favor of the executive on this measure, contested by ArcelorMittal, which cited its unconstitutional nature. A different procedure favored by the main shareholder would have allowed him to negotiate directly with the creditors of the old Ilva.
The steelworks is a historical and ambivalent presence in the landscape of Taranto and its surroundings. Built in the 1960s, it responded to great ambitions for the industrial development of southern Italy, creating direct jobs and stimulating the economic activity of an entire region. During the following decades, however, the site, very close to inhabited areas, proved to be a formidable danger for the environment and the health of the inhabitants. Since then, the steelworks has been subject to a structural crisis, between legal cases linked to the polluting effects of its activities and financial difficulties.
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