Steel Industry, Piombino: Mimit Announces Agreement Between JSW and Metinvest for the Areas
The Ministry of Enterprise and Made in Italy (Mimit) announced on October 31, 2024, that an agreement has been reached between JSW Steel Italy and Metinvest Trametal regarding the areas of the Piombino steel plant.
The agreement concerns the transfer of Metinvest’s Piombino assets to JSW, including the cold rolling mill, the hot-dip galvanizing line, and the finishing lines. The transfer will allow JSW to expand its production capacity in Italy and strengthen its position in the European steel market.
“This agreement is a significant step forward for the Piombino steel plant,” said Minister of Enterprise and Made in Italy Adolfo Urso. “It ensures the continuity of production and employment at the site, and it strengthens the Italian steel industry.”
The agreement is the result of months of negotiations between JSW and Metinvest. The two companies had been discussing a potential deal since Metinvest announced its intention to sell its Piombino assets in March 2023.
JSW is one of the largest steel producers in the world. The company is headquartered in India and has operations in several countries, including Italy. Metinvest is a Ukrainian steel producer. The company has operations in Ukraine, Italy, and other countries.
The transfer of Metinvest’s Piombino assets to JSW is expected to be completed in the coming months. The deal is subject to regulatory approval.
Additional Information
- The Piombino steel plant is one of the largest steel plants in Italy. The plant has a production capacity of approximately 4 million tons of steel per year.
- JSW Steel Italy is a subsidiary of JSW Steel. The company operates a steel plant in Taranto, Italy.
- Metinvest Trametal is a subsidiary of Metinvest. The company operates a steel plant in Piombino, Italy.
Siderurgia, Piombino: Mimit annuncia intesa tra Jsw e Metinvest sulle aree
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