Can Ilva’s new owner forge a brighter future for Taranto?

The clock is ticking down on the sale of Europe’s largest steel production site — Italian steelmaker Ilva’s Taranto steelworks — with the facility’s administrators confirming last week that the new owner will be announced in the first half of 2017.

The sale is being heralded as one of the most significant developments in the European steel sector in recent years, with the coinciding merger talks between Tata and Thyssenkrupp all pointing towards greater European steel industry consolidation.

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