Ascometal: Marcegaglia granted Fos-Sur-Mer-Site

The Chamber of Commerce of the Strasbourg Judicial Tribunal, in   ruling issued today, has chosen the Marcegaglia Group as the buyer of the Ascometal site in Fos-sur-Mer,
currently in receivership, which will assume a new name of “Marcegaglia Fos-sur-Mer.” The Group has pledged to hire all employees and to invest in a major new industrial transformation project about 600 million euros (capex), to which working capital requirements will be added.

This project will result in a significant increase in electric furnace production up to 1 to 1.2 million tons of steel, to which will be added a continuous slab caster (instead of the current ingots) and a state-of-the-art hot rolling coil mill, for a total production capacity between 1.6 and 2 million tons. Upon completion of the transformation, the Fos-sur-Mer site will meet about 30 percent of the Marcegaglia Group's steel requirements and will use efficient and sustainable production methods.

“This important acquisition is part of the Group's global strategy, with the aim of integrating the entire value chain into our production,” explain Antonio and Emma Marcegaglia. “In addition, the Grand Port in Marseille is strategically located in terms of raw materials and logistics. The significant industrial transformation project and the innovative technologies used will make the Fos-sur-Mer site one of our Group's most relevant assets. This investment is part of the broader strategy of development and decarbonization of the Group's activities: steel produced from scrap and from “Green DRI” will, in fact, be able to reduce greenhouse gas emissions by 80 percent compared to production from full cycle.”

Source and Photo: Marcegaglia