Rome

Steel group says ILVA commissioner a 'dangerous precedent'

Bondi's 12-month appointment could be extended to 36 months

Steel group says ILVA commissioner a 'dangerous precedent'

(see related story) Rome, June 4 - The Italian government has created ''a dangerous precedent'' with its decision to appoint a commissioner to take over management of ILVA's troubled Taranto steel plant, the national steel-producers federation said Tuesday. Its statement came hours after the government named corporate troubleshooter Enrico Bondi as commissioner to clean up and revamp the plant in southern Italy. The appointment is likely to make matters worse, and undermines free enterprise, said Antonio Gozzi, president of Federacciai. Bondi, 78, ILVA's outgoing CEO, revived bankrupt dairy group Parmalat before becoming spending-cuts czar for the previous government led by technocrat Mario Monti. His appointment was announced by Regional Affairs Minister Graziano Delrio. The government later noted that Bondi's appointment is for at least 12 months and could be renewed for a period of up to 36 months. Delrio said that cabinet was still hammering out the ''final details'' on a decree to save Europe's biggest steel plant while working to make sure it stopped polluting the Puglia city nearby.

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