The Lecco, Italy-based wire rod mill of Italian steelmaker Lucchini will be bought by a partnership between Italian steel producer Feralpi and Swiss-based international trader Duferco which has production facilities in Italy, with both of the latter companies aiming to diversify their production.
Accordingly, yesterday, December 17, Lucchini announced its choice of the joint offer of Duferco and Feralpi over that of Italian steelmaker Acciaierie Venete, because, though both offers were reliable and contained good plans for the continuation of operations and integrations with the respective groups, Duferco and Feralpi offered a higher price. Job levels are to be maintained.
Both Acciaierie Venete and Duferco-Feralpi presented their binding offers on October 29 last, while the deadline for presenting binding offers was December 15.
Lucchini's special commissioner Piero Nardi has presented the decision to the Italian Ministry of Economic Development for formal approval.
