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Italian factory for the production of special steel will remain until the former owner

1 January 1970
Italian factory for the production of special steel will remain until the former owner

Italian factory for the production of special grades

metal — the company AST («Acciai Speciali Terni») — yet remain under

the control of its current owner — one of the industry leaders in the world

stainless steel — the Finnish Corporation «Outokumpu». The owner has removed the asset

the auction for lack of buyer that would make the owner of the plant worthy

offer. «The conditions that are offered to us today, is unacceptable to us.

Therefore, the management «Outokumpu» in talks with the relevant authorities

The EU to find a consensus acceptable to all parties to the forthcoming transaction

the alienation of the asset," — commented on the incident, representatives of the Finnish company.

Circumstances find a new owner for the AST is concerned

the current government of Umbria (administrative region of Italy, which

the plant is located), to pay the change of owner of the enterprise attention. «We

we believe that the situation with the sale of «Acciai Speciali Terni» is a broader

a topic that affects not only the interests of the parties involved in the transaction. This applies to

Of Umbria, and even has direct relevance to the entire economy of Italy» expressed his

point of view of the representatives of the regional authorities at the recent meeting on

this issue, the Ministry of economic development of the country.

Earlier it was reported that the European Commission has obliged «Outokumpu»

sell «Acciai Speciali Terni» in connection with the acquisition of a Finnish organization

another major stainless steel asset units «Inoxum» the German

Corporation «ThyssenKrupp». Such transaction, the antitrust authorities of the European Union tried

to protect domestic purchasers of steel from the potential threat of dictatorship

prices market player that has collected under the largest plants in Europe

the production of special steels. However, the potential buyers of AST

the offer did not satisfy the management «Outokumpu» if you expect to get for the plant

about 730 million dollars, in connection with which the European Commission allowed the owners of

Finnish corporations to defer making a final decision on the sale of an asset

at a later period (roughly mid/end of next month).

4 January 2011