Economy

The Ilva still returns to the verge of bankruptcy

The Public Prosecutor’s decision to seize altrophorn 1 makes the cig workers splash to 4,000 units, but you can climb up to 5,500. The 100 million arriving from the government will be enough for just three months. And the negotiation with Baku Steel, already uphill, risks jumping

For those who have been following the fate of the plants of the Ilva or ex Ilva for over a decade as it is called today, these are hours of sadness. The company is in fact again on the verge of bankruptcy. The case is at the limit. In days 100 million public will arrive which are part of the bridge loan. A breath of air that for the former steel giant is worth just over three months of autonomy. So since yesterday the layoffs touched about 4,000 workers, but the request is up to 5,500. Practically all the workforce. All this while on Taranto fly rags of all kinds. Altophorno 1 ended up seizure for environmental reasons. The usual reasons that arm the associations and the prosecutor.

The company points the finger and magistrates respond to the sound of notes, remembering that the requests for the junction have not received. Bureaucracy on bureaucracy, which is also added to the authorizations still missing for the new environmental plan. «When I went to Taranto I had solicited the safety of the plants. Unfortunately, the authorization was given too late so that the production activity of Alteroporn 1 is compromised and there is no more possibility to resume the production level that would lead to the full decarbonisation of the plants, “said the minister Adolfo Urso to Radio24 Yesterday morning. «This morning (yesterday, ed) The commissioners will meet the unions to communicate the necessary interventions regarding the CIG as the production of the plants must be significantly reduced and this will have impacts on production, employed and on the supply chain so significant in the Taranto area “, he concluded Urso. The meeting was there. And as of course it served to add sadness to the sadness of those who hope that Italy will return to being a country capable of having a heavy industry. The Italian steel mills of Italy today produce almost half of how much the plant put on the market in the sixties. Starting from the expulsion of the family Shoreall possible errors have been made. The judiciary has never considered a simple fact. In the Constitution, the right to health and that to work are joint. The first can never have supremacy. Then there was the season of the grillini and for mere electoral opportunity, the criminal shield designed specifically was canceled to prevent the new investors (at the time the Indians of Arcelor Mittal) responded to old crimes.

The wicked choice provided the assist to the new investors to carry on their real strategy. That is, slowly kill the former Ilva to encourage the other more productive and less expensive plants. For Arcelor, losing a few dozen millions (arm in arm with the state) is nothing compared to the group’s useful billionaires. Thus, when the current government tried to put the shards together, no glue capable of working was found. At that point the counter is skipped again. A new square commissioner. More or less what happened with Alitalia. The car was left but at the minimum of the laps and in the meantime the consultations and negotiations for a new partner have been started. The Azera Baku Steel was chosen. With not a few risks. It has small dimensions, but enjoys a competitive advantage: reduced energy costs.

Because the steel in Italy is killed in Italy is precisely the unsustainable cost of the bills. Before 2019 it was 25% more than the European average. Today we are well above 40%. With these values, no industrial plan is sustainable. In addition, the world goes in the direction of nationalization. We saw Great Britain’s recent decision that resumed control of British Steel. The company had been acquired by China. Of course, now as Mimit pointed out, the negotiation with the Azeri gets even more difficult. Who will go on given the stops imposed by the judiciary?

Even if one thing must be said. The difficulties with the Azeri were previous. So much so that in the last few weeks he was insistently coupling a tricolor industrial investor. But nobody would have responded to the appeal. And we are again to the starting point. Unless there is a miracle. But in industry the miracles are certainly not on the agenda. Especially since the ex Ilva is not the only industry that suffocates. Staying in the same sector there has been Piombino who has vocal for years. And now the Priolo refinery website is also ready to explode. In Sicily the outbreak of the war in Ukraine and the start of the sanctions to Russia has imposed the search for a new partner. There were few opportunities on the market. But now the Cipriota partner have broken with the Trafigura trader. More money is needed. Either the war ends in the coming weeks and the trafficking with Russia leave or Priolo will be another llva. Perhaps it would be appropriate to review the industrial priorities of the country. And perhaps in the case of steel it would be worth looking for a European consolidation. France with Arcelor Mittal had problems similar to Italy. At the time it could have been sought a merger between companies and states. It may seem like a heresy. But the rest of the world is so competitive that the dimensions count and it is difficult to go on.