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A.Mittal: we reduce production and slow down investments

2021-03-20T09:40:35.630Z


Aminvestco announces "a reduction in its production levels and a temporary slowdown in its investment plans". The measures "will be in force as long as Invitalia does not fulfill the commitments made with the Investment Agreement". (HANDLE)


(ANSA) - ROME, MARCH 20 - Aminvestco announces "a reduction in its production levels and a temporary slowdown in its investment plans".

The measures "will be in force as long as Invitalia does not fulfill the commitments made with the Investment Agreement".

It can be read in a note from the company.

"To date - reads the note - Invitalia has not yet subscribed and paid up its share of capital and therefore has not fulfilled the obligations set out in the Agreement" which Aminvesto defines as "binding" "This persistent failure to comply is seriously compromising the sustainability and prospects of the 'company and employees ".


    "Aminvestco - explains the note - refers to the Investment Agreement signed with Invitalia on 10 December 2020 which provides for the commitment of Invitalia to subscribe and pay a capital increase of 400 million euros by 5 February 2021 and a series of other measures to support the investments of the company ".


    On March 3, ArcelorMittal communicated to the unions the use of the ordinary Cig for a "presumable period" of 12 weeks, starting from March 29, for a maximum of 8,128 employees (including managers, employees and workers) of Taranto, or the entire workforce net of executives.

This while in Italy the production of steel (prodottipiani) in January 2021 marked a good recovery of 2.8% per year, (ANSA).


Source: ansa

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