The latest negotiation with ArcelorMittal hit a wall. So Invitalia asked the government to resort to extraordinary administration for Acciaierie d'Italia. The commissioner's arrival is now practically certain.
Some technical checks are still needed and then on Monday the government will announce it to the workers' unions of the former Ilva and to the representatives of the related industries,
convened in the late afternoon at Palazzo Chigi.
The confrontation came to an end over the weekend and it was clear that the time for choices had arrived.
"Invitalia - wrote the public shareholder of Acciaierie - after having experienced in recent months and most recently in recent weeks, in constant dialogue with the Government, every possible attempt to reach an agreement with the private shareholder, taking note of the unavailability of the latter to help ensure business continuity or dissolve the joint venture in a balanced way and in compliance with current regulations, including European ones, in the context of a crisis situation not dependent on the will or management responsibilities of the public sector, forwarded today to the Ministry of Businesses and Made in Italy, an application for the consequent technical and administrative evaluations for the extraordinary administration procedure for Acciaierie d'Italia".
A firm request accompanied by a harsh j'accuse.
Minister
Adolfo Urso
also clearly recalled that "the foreign investor who leads the company (ArcelorMittal ed.), and who has the majority of shares, does not intend to put resources into the company".
And he drew the conclusion that "if he does not intend to invest in the company, I believe it is right that the country reclaims what is the fruit of the work, of the sacrifice of entire generations".
There was no doubt that the government wanted ArcelorMittal out of the former Ilva.
There has been discussion in recent weeks about the modalities of the exit.
This was the objective to be defined.
To avoid extraordinary administration it would have been necessary for the French-Indian group to decide to sell its share to another buyer.
That he dissolve the joint venture.
And it seems, according to the rumours, that there would be no lack of interest from external buyers.
For example that of the Ukrainian magnate Rinat Akhmetov, owner of Metinvest, who controlled the Azovstal of Mariupol destroyed by the Russians.
It is obvious that a demanding acquisition like that of the former Ilva would have to go through due diligence, that is, a careful examination of data, productivity, employees, orders, warehouse, liabilities.
An issue, that of access to data, which also appeared complicated in the ping pong that Acciaierie d'Italia had with Sace on the application of the decree for the activation of guarantees for related companies.
But there were also other issues on the table, which an attempt was made to resolve to prevent the tug-of-war from ending up - as has already partly happened - in court.
The ball is now in the Government's court, which will reveal the cards in a game that now appears obvious with the unions.
Who press and don't hide their concern.
"In Monday's meeting with the government - says Fim Cisl General Secretary Roberto Benaglia - we expect definitive solutions to be launched and implemented as early as Tuesday and not further analyses, postponements or new insights".
The unions see a situation that has deteriorated further since the last meeting a month ago.
"These weeks have seen the Government look for further solutions - explains the Fim Cisl - But the further confrontation with the Mittals has not helped the situation. For us, the time of the whims of a multinational is over and we only need to guarantee the relaunch of the company and above all, to save production continuity and employment which are fundamental for us."
Yes, because the arrival of the extraordinary administration will not be a walk in the park.
It will not be the case for suppliers, who risk not being repaid and will have to be protected by Sace.
It won't be for workers exposed to the unknowns that another change of management and the management of a crisis entails.
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