Official signing, in Essen, at the ThyssenKrupp headquarters, on the contract with which the Arvedi group acquired Terni and its commercial subsidiaries in Germany, Italy and Turkey from the German group Acciai Speciali Terni. The contract was signed by Giovanni Arvedi and Mario Arvedi Caldonazzo, president and CEO of the Arvedi group, and by Volkmar Dinstuhl, CEO of Multi Tracks, representing the German company. The closing of the transaction, after the signing on September 15 last year, was achieved following the green light of the European Antitrust on December 21 and that of the Turkish Antitrust. The German group will keep a 15% stake in Ast as a sign of continuity and trust.
The Arvedi group, controlled by the family of the same name, is active in the production and processing of carbon and stainless steel, with over 4.5 million tons of steel products and 4300 employees, with this acquisition, it is consolidated among the main European steel players. , reaching 7.5 billion euros in turnover and counting on 6,600 employees in Italy. AST is one of the four European producers of stainless steel flat rolled products, with a production of approximately 1 million tons and the employment of 2300 employees.
A note from the Cremonese group also indicates that Cavaliere Giovanni Arvedi has been appointed president of Acciai Speciali Terni and Mario Arvedi Caldonazzo as CEO. Directors Giancarlo Stringhini, president of the stainless steel companies of the Arvedi group; the “Terni” Mariano Pizzorno and Dimitri Menicali have been confirmed CFO and plant manager respectively.
The founder and president of the Arvedi group, Giovanni Arvedi, he declared: «Acciai Speciali Terni has an important history that is intertwined with the interest of our country; with humility we will do everything possible to give her the future she deserves. With the acquisition of AST, the Arvedi group confirms itself as a strategic asset of the Italian industrial system and one of the main European steel operators. Our commitment to AST will focus on competitiveness and environmental sustainability, through an investment plan focused on state-of-the-art plants, innovative technologies, research and development. Our commitment continues, as in the Cremona and Trieste sites, for decarbonisation also through the use of green hydrogen ».