Initial public offering is being considered as one of the potential options
The Italian producer of rolled products Feralpi Siderurgica seeks to attract investments to expand the company’s capabilities. Metal Expert reports about it.
The company is considering a listing as one of the potential options, but this decision is not final. According to Reuters, the company has hired consulting firm Lazard to look into these issues.
In 2022, Feralpi announced an investment plan of €400 million as part of its industrial program for 2022-2026, which involves the modernization of the group’s plants in Italy and Germany. The program is related to energy transition processes.
The parent company Feralpi Siderurgica operates electric arc furnaces with a capacity of 1.2 million tons and three rebar and wire rod plants with a total production capacity of 3.2 million tons per year. Feralpi Group operates several other rolled mills in Italy and Germany.
As GMK Center reported earlier, in February 2023 production of rolled products in Italy was 1.12 million tons, which is 7.1% less year-on-year. The production of flat rolled products in the country in this period decreased by 10.7% compared to February 2022 – to 805 thousand tons. In February 2023, Italian steel enterprises reduced the volume of steel production by 7.3% compared to the same month in 2022 – to 1.896 million tons.
Also, at the end of March competition on the sheet steel market in Italy intensified. Sellers noted reduced consumption and slow sales, while prices remained stable compared to the beginning of the month.