The Flacks Group still wants to buy the former ILVA group steelworks in Taranto even after a Milan court last month ordered activity at the plant be suspended on health grounds, its CEO Michael Flacks said on Thursday.
    The ruling, upholding a legal petition from residents of the southern city, does not come into force immediately and will only become applicable if it goes unchallenged.
    The US-based private investment group said in December that it has entered exclusive negotiations with the State to buy ADI, the group that owns the plant.
    "Despite the recent ruling by the Court of Milan, the Flacks Group confirms its commitment to continue negotiations for the acquisition of the former ILVA group," Michael Flacks told ANSA.
    "Although this is an unexpected development, the Group does not consider the decision to be an obstacle to the ongoing process, which is being carefully evaluated in order to adjust the business plan accordingly.
    "The Flacks Group remains fully committed.

This position has been communicated with full conviction to the government".
    The Taranto factory, once Europe's biggest steelworks, has been dogged by economic problems in recent years and linked to high cancer rates in the Puglia port city.
    There have also been two fatal accidents at the plant so far this year.
    ADI was put into State-controlled administration early in 2024 after ArcelorMittal's ownership of the group ended acrimoniously.

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