Ex Ilva, a breve il piano dell’industria italiana

The Italian iron and steel industry is expected to soon announce an open expression of interest for the cold area of the former Ilva site, according to reports from Sole-24 Ore. The non-binding expression of interest will allow various Italian steel companies to participate as industrial and financial activities resume, and their executives will determine the extent of their commitment.

As the Italian sector accelerates, the broader context begins to absorb the effects of the commissioners' decision to appeal to the Cassation Court for a judgment on the legitimacy of a second-degree court ruling in Milan. This decision has reshaped the scenario, eliminating the hot area from the equation. Consequently, the Italian sector decided to proceed with the expression of interest.

The concern, as reported by the ministry and political circles to Sole-24 Ore, is that a favorable ruling from the Cassation Court could reverse the process. In such a case, what would happen? The commissioners' decision appears to stem from the need to reassure supply companies operating in the hot area, which hold credits and have ongoing contracts.

These companies, numbering around 20 with 2,000 employees, include ten companies in critical situations. Confindustria Taranto, Confapi Taranto, and Aigi are closely monitoring the potential impacts of the Cassation Court's decree. On July 30, Acciaierie d'Italia, in extraordinary administration, paid the bills for the indot of January and February, due in May.

The fate of other outstanding bills remains unclear. The hope is that the liquidity from the fourth and final tranche of 41 million euros from the 390 million euro bridge loan authorized by the EU for Ex Ilva will be utilized. The government has already covered the first three tranches, amounting to 149, 100, and another 100 million euros.

This hope for the companies emphasizes that 60 to 70% of Acciaierie d'Italia's contracts are tied to the hot area, which would be lost if the hot area is no longer available since late October. In this passage, the paradox, danger, and criticality of the Ex Ilva crisis are evident.