Steel Mills
June 29, 2018
ArcelorMittal Ilva Acquisition Delayed Until September
Written by Sandy Williams
ArcelorMittal’s acquisition of Italian steel plant Ilva has been delayed until Sept. 15 as government officials continue to review terms of the deal.
ArcelorMittal has agreed to buy and fix the pollution plagued mill from the Italian government for €1.8 billion ($2.1 billion). The company said it will invest €2.3 billion ($2.7 billion) to fix the environmental problems and modernize the plant, but wants to cut about 4,000 jobs by 2023. The plant currently employs 14,000 people.
