Italian administrators overseeing Europe’s largest steelworks have sued its former owner ArcelorMittal, seeking €7bn in damages, as the plant struggles for survival.
According to a complaint filed with a Milan court this month and seen by the Financial Times, Acciaierie d’Italia is seeking compensation for what it alleges was ArcelorMittal’s “mismanagement” of the steelworks, formerly known as Ilva.
The plant at Taranto in southern Italy was placed under special administration by state-appointed commissioners after Giorgia Meloni’s government seized control of the site from ArcelorMittal — Europe’s largest steelmaker — almost two years ago.
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