ArcelorMittal to give up sites in Liège following Ilva purchase
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    ArcelorMittal to give up sites in Liège following Ilva purchase

    © Belga
    © Belga

    ArcelorMittal Director-General Manfred Van Vlierberghe announced on Thursday that following the acquisition by the steel giant of the Ilva integrated site in Italy, the European Union will force it to give up some of its sites, including those in Liège, to avoid a monopoly situation. A consortium headed by ArcelorMittal, Italy’s Marcegaglia and the Intesa Sanpaolo Bank had been selected in June 2017 by the Italian Government to take over  Ilva, which had Europe’s biggest steelworks in Tarento, for 1.8 billion euro. This sum was coupled with 2.4 billion euro in investments to relaunch the company, which had been placed under guardianship of the State since 2015.

    Within the framework of this operation, Europe felt ArcelorMittal could not have a monopoly for certain lines and decided that it had to give up some of them. These include those located in Liège. According to union sources, galvanization line 4, which was about to be launched, and galvanization line 5 are among the operations targeted, along with Eurogal in Ramet.

    The decision should be confirmed by late May.

    Christopher Vincent
    The Brussels Times