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Steel M&A Picks Up as Prices Recover
05/08/2017 - Rebounding steel prices and capacity cuts in China have triggered a wave of mergers and acquisitions, and plants once considered worthless are now attracting attention from investors, reports the Reuters news service.
Case in point, Reuters said, is Italy’s Ilva steel works. Two consortiums, one of which includes ArcelorMittal, are bidding billions of euros to buy the facility from the Italian government, betting that European imports will decline as demand builds, Reuters said.
"With reduced import volumes, Ilva's additional output will be absorbed,” Tommaso Sandrini, president of Italian steel processors association Assofermet, told Reuters.
Reuters has the full story here.
"With reduced import volumes, Ilva's additional output will be absorbed,” Tommaso Sandrini, president of Italian steel processors association Assofermet, told Reuters.
Reuters has the full story here.
