05 May 2024 09:17
No longer just steel for the Arvedi group, owner of the Ast of Terni: the Cremona company is in fact looking beyond the steel industry, through the creation of a newco called Investimenti Industriali Italiani, which has the aim of diversifying and enriching the activities of the same group. The indiscretion is reported by Milan Finance and opens up new expansion scenarios.
EVERYTHING ABOUT AST – UMBRIAON
The details
The new company is entirely controlled by the group’s main holding company, Finarvedi: it is – explains the financial newspaper – a limited liability company that is currently inactive, but which will potentially deal not only with steel production, but also with sectors such as mechanics, electromechanics, electronics, chemistry, rubbers, plastics, energy trading and waste management. Furthermore, the company will have the possibility of acquiring shares in companies active not only in the steel sector but also in the metallurgical and energy sectors.
The other news
This is not the only corporate move by the Arvedi group, which also extended the duration of the Finarvedi holding by 20 years, therefore until 31 December 2070. Furthermore – he always reports Milan Finance – has also expanded its corporate purpose, also including staff training activities. The objective is to extend this type of activity, still within the steel industry, from its 6,400 employees to other external companies, not just Italian ones. Finarvedi has a turnover of over 7.7 billion euros and an annual steel production of almost 6 million tonnes.
The outstanding issues
New moves, therefore, for the cavalier Giovanni Arvedi, whose name in recent months has been associated several times with the theme of the relaunch of the former Ilva, now in extraordinary administration. While waiting to see what the fate of the Taranto steelworks will be, in the meantime, we also need to understand when the long-awaited program agreement for Acciai Speciali Terni, whose signature is still pending, will materialize.
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