Luxembourg / Cremona / Mantova, 20 February 2013 - Aperam S.A. ("Aperam"), Ilta Inox S.p.A. ("Arvedi") and Marcegaglia S.p.A. ("Marcegaglia") announce that they have signed a memorandum of understanding (MoU) to create an Italian Joint Venture aimed at participating in the sale process of the stainless steel producer Acciai Speciali Terni S.p.A, currently being divested by Outokumpu Oyj.
Under the terms of the MoU, Aperam would be majority shareholder and operator of the Joint Venture while Arvedi and Marcegaglia would each have equal minority shareholdings.
The consortium's combined experience and resources would be drawn upon to improve the competitiveness and profitability of the Italian mill in the European market for flat stainless steel products.
Aperam is a global player in stainless, electrical and specialty steel, with operations in more than 30 countries. The business is organized in three divisions: Stainless & Electrical Steel, Services & Solutions and Alloys & Specialties.
Aperam has 2.5 million tonnes of flat stainless steel capacity in Brazil and Europe and is a leader in high value added niches - alloys and specialties. Aperam has a highly integrated distribution, processing and services network and a unique capability to produce stainless and specialty from low cost biomass (charcoal). Its industrial network is concentrated in six main plants located in Brazil, Belgium and France. Aperam has about 9,800 employees.
Aperam commits to operate in a responsible way with respect to health, safety and the well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. In 2012, Aperam had revenues of USD 5.3 billion and shipments of 1.68 million tonnes.
For further information, please refer to our website at www.aperam.com