ArcelorMittal makes 'best and final' Ilva commitments

ArcelorMittal said today it has made its "best and final commitments" in its bid to acquire Ilva, after a meeting between the company and "interested stakeholders."

The company said the additional commitments, which it had agreed to after they were proposed by the new Italian government, included a plan to "significantly reduce Ilva's emissions, including CO2, dust, dioxins."

In its presentation to the ministry of economic development today, the company agreed to a 15pc reduction in emissions per tonne of liquid steel produced from Ilva, and 30pc and 50pc reductions in dust and dioxins emissions from sintering plant 1.

It also agreed to other commitments with regards to supporting and engaging with the local community. The company still has to negotiate with trade unions before the deal is closed.

"The enhanced commitments we presented today really do represent ArcelorMittal's best foot forward for the turnaround of the Ilva business and ensuring that Ilva has a sustainable future as Italy's leading steel producer," Geert Van Poelvoorde, chief executive officer of ArcelorMittal Europe, said after the meeting.

He said the "enhanced commitments" went beyond the company's initial binding contract and demonstrate its "unwavering commitment" to the plant.