Acciai Speciali Terni receives major investment approval

Arvedi Group reports the approval of an investment of over 850 million euros for new production and facility improvements at the Acciai Speciali Terni (AST) steel mill. Arvedi Group completed the acquisition of AST from ThyssenKrupp in January 2022 and ThyssenKrupp has demonstrated its commitment to this investment by retaining a 15% stake in AST, signaling its viability. AST's sales volume in the 2019/2020 fiscal year amounted to approximately €1.7 billion, with a net profit of €187.3 million in the 2021/2022 fiscal year, sources said.

The investment decision was made on December 12, following an industrial plan meeting at the facility. Detailed discussions and the details of the projects will be defined in meetings that may extend until January 2024. After that, the final details of the project will be finalized after the program agreement is signed with the Italian government.