Gruppo Lucchini

Last updated
Gruppo Lucchini
Company type Subsidiary
IndustrySteel
Founded1946
FounderLuigi Lucchini
Headquarters Brescia, Italy
ProductsHot-rolled long products
Semiproducts
Cold-processed bars
Railway products
RevenueIncrease2.svg 1.89 billion (2010)
Decrease2.svg 108 million (2010)
Decrease2.svg 648 million (2010)
Number of employees
6,992 (2007)
Parent Severstal
Website www.lucchini.com

Gruppo Lucchini was the third largest Italian steel group after Gruppo Riva and Techint, with a 2005 production of 3.5 million tonnes. [1] It specialized in high-quality long and special carbon steel products.

Contents

In 2005 the Russian steel and mining company Severstal became the majority shareholder (approx 60%) of Lucchini, the remainder being owned by Lucchini Family (30%) and other minor shareholders.

In 2007, the Lucchini family bought back Lucchini RS, the part of Lucchini Group active in the railway rolling stock business. The two companies are therefore totally independent.

In 2010, Severstal acquired all the shares of Lucchini Group from the Lucchini family and became the only shareholder of the company.

History

The Group's founder and former Honorary President Luigi Lucchini expanded and developed his father's business of crafting iron in Casto, Italy by building a small rolling mill to produce rebar during the period after World War II. Over the years, the craftsmanship was replaced by industry, investing in more and more productive rolling mills and building the first electric arc furnaces to melt scrap and transform it into steel ingots, ready for rolling. During this period Lucchini played a role within the Italian steel industry making a name for itself through unyielding determination. In the 1970s and 1980s, Lucchini Group forecasted market evolution and progressively widened its product range to include added-value products through investment and acquisition. Through privatization, the group entered the integral cycle technology, widened its product range, invested its resources in the R&D sector, set increasing attention to customer service, and developed the internationalization process. In 2005, following a financial restructuring due to important investments in the plants, the majority of Lucchini Group was acquired by the Russian group Severstal, through a capital increase.

In 2007, the railway rolling stock division, Lucchini RS was sold back to the Lucchini family.

In 2012, the French division Ascometal was sold to Apollo Private Equity Fund.

In 2013, Lucchini filed for bankruptcy.[ citation needed ]

Facilities

Lucchini has multiple domestic and international facilities. The main facility in Italy is in Piombino (active since 1908 and acquired by Lucchini in 1992); there are also facilities in Trieste (established by the Austrian Krainische Industrie Gesellschaft in 1896 and acquired by Lucchini in 1995), Condove, Lecco.

See also

Related Research Articles

Outokumpu Oyj is a group of international companies headquartered in Helsinki, Finland, employing 10,600 employees in more than 30 countries. Outokumpu is the largest producer of stainless steel in Europe and the second largest producer in the Americas. Outokumpu also has a long history as a mining company, and still mines chromium ore in Keminmaa for use as ferrochrome in stainless steel. The largest shareholder of Outokumpu is the Government of Finland, with 26.6% ownership, including the shares controlled by Solidium, The Social Insurance Institution of Finland, Finnish State Pension Fund and Municipality Pension Agency.

Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.

<span class="mw-page-title-main">Alexei Mordashov</span> Russian billionaire and businessman

Alexey Alexandrovich Mordashov is a Russian billionaire businessman. He is the main shareholder and chairman of Severstal, Russia's largest steel and mining company.

Vossloh AG is a rail technology company based in Werdohl in the state of North Rhine-Westphalia, Germany. The SDAX-listed group has achieved sales of around €930 million in 2016 and, as of 2017, had more than 4,000 employees.

<span class="mw-page-title-main">BankIslami</span> Pakistani Islamic State Bank

BankIslami Pakistan LTD. is a Pakistani Islamic bank based in Karachi, Pakistan. It has 400+ branches in 150 cities in Pakistan. It is the first Islamic commercial bank to receive the Islamic banking license under the Islamic banking policy of 2003 from the State Bank of Pakistan on March 31, 2005. The bank started its operations on 7 April 2006 and offers shariah-compliant retail banking, investment banking, consumer banking, and trade finance products. The bank intends to focus on wealth management as the core area of business and plans to soon launch proprietary products and integrated financial planning services. The bank has a nationwide presence. Its branch network consists of 343 branches and sub-branches spread over 125 cities in Pakistan. With the amalgamation of KASB on May 7, 2015, all 104 branches of KASB have become part of BankIslami’s branch network. BankIslami is now the 11th largest banking network in the country with 317 branches in 93 cities nationwide. The idea of BankIslami was conceptualized by Jahangir Siddiqui & Company Limited and Randeree family in late 2003. Mr. Hasan A. Bilgram I. was appointed as adviser to the sponsors on 16 March 2004 to formalize the idea. He presented the concept paper of BankIslami to sponsors on 24 March 2004. A detailed business plan was then prepared and a formal application was submitted to the State Bank of Pakistan on 26 May 2004. On the 26th of September 2005, Dubai Bank joined the sponsors and became one of the founding shareholders of BankIslami by investing 18.75% in the total capital.

<span class="mw-page-title-main">ArcelorMittal Kryvyi Rih</span> Ukraines largest steel company, located in Kryvyi Rih

ArcelorMittal Kryvyi Rih is Ukraine's largest integrated steel company, founded in 1934 and located in Kryvyi Rih, in central Ukraine.

Wheeling-Pittsburgh Steel was a steel manufacturer based in Wheeling, West Virginia.

<span class="mw-page-title-main">Severstal</span> Russian steel and mining company

Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.

<span class="mw-page-title-main">Dominion Steel and Coal Corporation</span>

The Dominion Steel and Coal Corporation was a Canadian coal mining and steel manufacturing company.

The Marzotto Group is an Italian textile manufacturer, based in Valdagno.

<span class="mw-page-title-main">Sparrows Point, Maryland</span> Unincorporated area in Maryland, United States

Sparrows Point is an industrial area in unincorporated Baltimore County, Maryland, United States, adjacent to Edgemere. Named after Thomas Sparrow, landowner, it was the site of a very large industrial complex owned by Bethlehem Steel, known for steelmaking and shipbuilding. In its heyday in the mid-20th century, it was the largest steel mill in the world. The site of the former Bethlehem Sparrows Point Shipyard and steel mill is now renamed Tradepoint Atlantic in a revitalization program to clean up the environment and make it one of the largest ports on the East Coast of the United States. Today Sparrows Point is home to many distribution centers, fulfillment centers, training lots, storage lots, and the like, including those operated by Under Armour, Amazon, Home Depot, Volkswagen, and McCormick & Company.

<span class="mw-page-title-main">Ferretti Group</span> Italian shipbuilding company

Ferretti S.p.A. is a Chinese multinational shipbuilding company headquartered in Forlì which specialises in the design, construction and sale of luxury motor yachts. Its products are sold under the brands Wally, Ferretti Yachts, Custom Line, Pershing, Itama, Riva, Mochi Craft and CRN.

The Simpson Investment Company is a company based in McCleary, Washington in the US Pacific Northwest that specializes in manufacture of forest products. Founded as a logging company in 1890 by Sol Simpson, the company now functions as a holding company for the Simpson Door Company, a manufacturer of wood doors.

<span class="mw-page-title-main">Exor (company)</span> Investment company incorporated in Netherlands

Exor N.V. is a Dutch holding company incorporated in the Netherlands and controlled by the Agnelli family through privately held company Giovanni Agnelli B.V. In 2022, it recorded revenues of more than $41 billion, becoming the 317th largest group in the world by revenue according to the 2022 Fortune Global 500 list. It has a history of investments running over a century, including auto and truck manufacturers Stellantis, Ferrari, and Iveco, agricultural and construction firm CNH Industrial, the association football club Juventus, the international newspaper The Economist, and the Italian media company GEDI Gruppo Editoriale. In May 2023, Exor launched its investment management company Lingotto.

<span class="mw-page-title-main">Marcegaglia</span>

Marcegaglia is an Italian corporation founded in 1959 by Steno Marcegaglia, operating in the European and worldwide steel market.

<span class="mw-page-title-main">JSW Steel</span> Indian multinational steel company

JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.

<span class="mw-page-title-main">JSW Group</span> Indian multinational conglomerate

JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and is part of the O.P. Jindal Group. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.

Lucchini RS S.p.A. is an Italian company, fully owned by the Lucchini family through a financial holding called Sinpar S.p.A. and divided from Gruppo Lucchini, which was under Russian control of Alexei Mordashov and Severstal from 2005 till 2007. In 2008 the Lucchini family took back the control of Lucchini RS.

<span class="mw-page-title-main">Luigi Lucchini</span> Italian businessman

Luigi Lucchini was an Italian businessman and steel executive.

<span class="mw-page-title-main">Ilva (company)</span> Italian steel company

Ilva S.p.A. is an Italian steel company in Taranto that for much of the 20th century was Italy's largest steel producer and one of the largest in Europe. In June 2017, Arcelor Mittal became the chief shareholder. In 2020 the company returned to commissioners' management and ownership of the Italian state. On 23 April 2021, capital was infused by the government of Mario Draghi, which took a 38% share and 50% of the voting rights.

References

  1. "World Steel Association". Archived from the original on 2011-07-18. Retrieved 2009-10-29.