Acciai Speciali Terni (AST), thyssenkrupp’s Italian stainless-steel division has attracted the attention of several potential suitors including Italy’s Arvedi and Marcegaglia, China’s Baowu, and Korea’s POSCO. JP Morgan is performing prospective buyer reviews on behalf of the parent company.
Marcegaglia visited the AST plant on Jul 19 and Arvedi performed an on-site inspection on Jul 20, according to media reports, while Baowu and POSCO are believed to be scheduling on-site assessments in the near term. Marcegaglia and Arvedi have both expressed interest in AST since June 2020.
AST is located in the central region of Umbria, Italy in Viale Brin, Terni. The plant employs about 3,000 workers making it a substantial hiring firm in central Italy. The region is crossed by the River Tiber which supports the logistics options for domestic and export sales.
Acciai Speciali Terni has operated in the steel industry for over 135 years and presently produces approximately 1mn mt of stainless steel. The company produces stainless steel flats, pre-painted, steel tubes, and heavy forgings. Terni was acquired by Krupp in 1994. The local government may provide financial support in preference to AST remaining Italian owned.