Ex Ilva and Priolo decree, a State shield for major industrial crises

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Avoid the paralysis of companies of national strategic interest, starting with the former Ilva and Isab of Priolo, following the intervention of the Judiciary. It is one of the crucial passages of the decree law relating to “Urgent measures for plants of strategic national interest”, approved on Wednesday evening by the Council of Ministers, and with an important focus on Acciaierie d’Italia, formerly Ilva, to which 680 million resources are allocated public.

The text of the decree

The text of the legislative decree, which “Il Sole” has viewed, reads verbatim that “interdictory sanctions cannot be applied when they jeopardize the continuity of the activity carried out in industrial establishments or parts thereof declared to be of national strategic interest if the entity has eliminated the organizational deficiencies that led to the crime through the adoption and implementation of organizational models suitable for preventing crimes of the type that occurred”. «The organizational model is always considered suitable for preventing crimes… when, in the context of the procedure for recognizing the national strategic interest, measures have been adopted aimed at realizing, also through organizational models, the necessary balance between the needs of continuity of the productive activity and safeguarding employment and the protection of safety in the workplace, health, the environment and any other legal assets harmed by the offenses committed» continues the legislative decree Which then establishes that the appointment of a commissioner “is always ordered instead of the application of the disqualification precautionary measure when the measure could jeopardize the continuity of the activity carried out in industrial establishments or parts of them declared to be of national strategic interest”. In the event of seizure not only for the establishments but also “plants and infrastructures necessary to ensure production continuity”, the judge, states the decree law, “orders the continuation of the activity with the help of a judicial administrator”. Furthermore, to achieve “a balance” between production, safety and work, “the judge dictates the necessary prescriptions” also taking into account the administrative provisions of the authorities. However, these provisions “do not apply when a concrete danger to public health or safety could arise from the continuation”. Meanwhile, the shareholders’ meeting of Acciaierie d’Italia yesterday acknowledged the new government decree law and of the agreements between the parties.

The assembly of Acciaierie d’Italia

After a series of updates, the assembly – which includes the private ArcelorMittal, which is the majority, and the public company Invitalia, which is the minority – has thus put a firm point. The intervention of the Executive broke the stalemate in which the assembly had found itself since the end of November. Three elements mentioned yesterday: the 680 million approved by the government, which will serve the former Ilva to catch its breath and to lighten the enormous debt that crushes it (6-700 million only towards Eni and Snam for unpaid gas supplies another 100 million to be paid to related activities in Taranto); the possibility of using the resources immediately as a shareholder loan convertible into a future capital increase, which should take place in 2023 and therefore one year in advance of the date (May 2024) rescheduled for last May; finally, the agreement with which ArcelorMittal and Invitalia decide to “modify the shareholders’ agreements by affecting crucial aspects such as shareholding and future governance” and consequently determining the financial commitments of the shareholders, “proportional to the shareholding”. Precisely this last aspect opens the way to the possibility of bringing forward by a year the transfer of the majority of the State to Acciaierie d’Italia: 60 percent of the capital. In the meantime, the Minister of Enterprise, Adolfo Urso, has reconvened the table on the former Ilva for 2 pm on 19 January. Finally, some protests in Taranto over the contents of the legislative decree must be recorded. In the crosshairs, the disbursement of financial aid to Acciaierie d’Italia and the reintroduction of the penal shield. Fiom Cgil, Uilm and Usb have called a strike from 11pm on 10 January to 7am on 12 January.