Elva’s Exodus, The Mapelli Case

The case for Acciaierie d’Italia’s appointed director Carlo Mapelli – referred to by Invitalia – explodes just days before a shareholder meeting scheduled for next July 21 to appoint board members. To open it, a letter, which Adnkronos was able to peruse, was sent from Acciaierie d’Italia’s attorney, Fabio Giuseppe Montaigne, on July 14 to Invitalia’s attorney, Pasquale Ambrogio, in which reference was made to a draft assembly report in which the “engineer Mapelli’s resignation from The position of director of Finarvedi Spa (as is already the case in last April’s draft.) However – continues the lawyer – this does not correspond to what appears in yesterday’s Chamber of Commerce survey extracted and attached here. This document also highlights the additional positions of Engineer Mapelli on the Board of Directors in Our direct competitors.

From the attached Chamber of Commerce surveys, it appears that Mapelli holds a director position at Jsw Steel Italy Piombino (appointment deed on January 17, 2020 and term in office until expiration of the current Board of Directors) and at Piombino Logistics spa (appointment deed on January 17, 2020 and term of membership until expiration of the Board of Directors). current management).

Hence the request, made by the solicitor of Acciaierie d’Italia, “to ascertain with Engineer Mapelli whether these results result from the failure to promptly update the public record of Cciaa, and to furnish us with any appropriate documentary evidence and information as to the absence of any reason for the inconsistency of the appointed Director” .

Invitalia’s attorney, Ambrogio, wrote back July 14 to the person concerned, Mapelli. “Today we receive a letter from Acciaierie d’Italia Holding spa which, while acknowledging your resignation as Director of Finarvedi spa, is also attached to yesterday’s certificate of incorporation and attached here. This document highlights, in fact – reads a letter seen by Adnkronos – additional positions On the board of directors it operates in AdiH’s competitor companies. Hence the request to Mapelli to confirm “whether these findings are consistent with the truth or are the result of not promptly updating the public record in Cciaa”. Mapelli was also required “to provide, in any event, all appropriate evidence and documentary information as to the absence of any cause for inconsistency or inconsistency, and even potential, of interest”.

Mapelli’s response to Invitalia’s attorney was swift: “In connection with my position as Director of JSW Italia and its subsidiaries, I am informing you that this steel company does not work in the flat products sector (coils and sheets) nor in tubes but only converts semi-finished steel products for railways, wire rods and bars (Long Products. Not an Integrated Cycle Steel Factory) My job is not incompatible and I have no intention of giving up.”

Arm wrestling that can lead to a dead end. Sources close to the ArcelorMittal report, in fact, the appointment of Mapelli may not be voted on because it is an expression of the Acciaierie d’Italia competitor.