The public administrators of a steel plant in southern Italy are seeking €7 billion in damages from the former owner, Luxembourg-based ArcelorMittal group, as the managers accuse the company of mismanagement of the steelworks. The plant in Taranto has long faced financial difficulties and has also been the subject of criticism over environmental issues.
In February 2024, the government of Italian Prime Minister Giorgia Meloni placed the insolvent steelworks under state administration to protect thousands of jobs,
accusing ArcelorMittal of jeopardising the future of the site by halting investment. At the time, the state held 38% of the shares, while ArcelorMittal owned 62%.
