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ArcelorMittal confirms that they sell the siderurgy unit of Galati. A decision will be taken until 23 May
The group Arcelor Mittal which owns in Romania the siderurgy unit of Galati,the biggest exporter of the heavy industry confirms that they will sell the unit of Romania to take over the Ilva producer of Italy.
It is the first official announcement of Mittal on this issue after the first information regarding the selling of some assets of Europe appeared at half-March.
‘The company advanced a proposal for the package of separation which could answer the preoccupations which the Commission raised during the checking. The separation package proposed includes the following assets: ArcelorMittal Piomibino,the only line for zincing in Italy, ArcelorMittal Galati,Romania,ArcelorMittal Skopje,Macedonia, ArcelorMittal Ostrava,the Czech Republic, ArcelorMittal Dudelange, Luxemburg, and the zincing lines 4 and 5 in Flemalle; lines in Tilleur, all in Liège, Belgium”, the ArcelorMittal.representatives announced.
He shows that the proposal to sell these assets is a topic of the final analysis and approval of the European Commission and of the conclusions of the information and consultation processes with the committees of local entreprise and those at the European level.
‘ Any sale will be conditioned by the finalisation of the Ilva acquisition by ArcelorMittal. It is expected that, in this case,a final decision of the European Commission be taken unti 23 May 2018’.
The European Commission announced previously that on 15 March they received from the group Arcelor Mittal a set of commitments assumed by the group in the attempt to finalise with success the taking over of the Ilva unit in Italy. The representative of the Romanian ministry of economy stated that at that date that the ministry did not receive information with regards to the intention of selling the unit in Galati.
Sources close to the trading said in March for Ziarul Financiar that the possible buyers could be a joint-venture between the giants of steel of Ukraine and Italy,Metinvest and Marcegaglia respectively.
ArcelorMittal wants Ilva, a siderurgy unit placed in southern Italy which produces 12 million tons of metallurgical products per year,and as its position , could become too strong in the European siderurgy, the European Commission would have asked them to give up other capacities.