Arcelor Mittal exits Europe's largest steel mill

Italian government takes over special administration at AdI

Reading time: min

As reported by various media, including the FAZ, Europe's largest steelworks in Italy is facing insolvency.

The plant in Taranto in southern Italy, which has an annual production capacity of 11 million tons of steel with five blast furnaces, is largely at a standstill

and is facing insolvency. AdI's main owner Arcelor Mittal is leaving the company, which previously traded under the name Ilva, and the Italian government placed the company Acciaierie dÌtalia (AdI) under special administration a few days ago, effectively expropriating it.

Arcelor Mittal is currently examining appropriate legal remedies and refers to around 2 billion euros invested in the company since 2018.

It seems that the company is facing a highly uncertain future.