ArcelorMittal has reached a provisional labor agreement with Italian trade unions regarding the acquisition of the country's flat steel producer Ilva.
"There is now a clear path toward closing the transaction and starting the important work of rehabilitating Ilva," Aditya Mittal, president, chief financial officer and chief executive officer of ArcelorMittal Group, said on Thursday September 6. "We are keen to get started as soon as possible as Ilva requires urgent investment to address its environmental and operational challenges."Once we formally take ownership of Ilva, our priority will be to ensure operational stability, while also starting to implement our significant, ?,?2.4 billion ($2.8 billion) investment programs. This...