This morning in metals news, Workday is acquiring sourcing and procurement firm Scout RFP, the Italian government and ArcelorMittal are butting heads over the latter’s intention to pull out of its Ilva contract and the U.S. might not have to impose tariffs on imported automobiles.
Workday Acquiring Sourcing and Procurement Firm Scout
MetalMiner sister site SpendMatters has all the news regarding Workday’s acquisition of sourcing provider Scout RFP for $540 million.
According to Workday, a finance and HR solutions provider, closing on the deal should occur by Jan. 31, 2020.
Italy, ArcelorMittal Clash Over Ilva
On Tuesday, ArcelorMittal sent a letter to Italian firm Ilva detailing its intention to terminate a previously announced deal to purchase the struggling steelmaker.
ArcelorMittal closed on the deal Oct. 31, 2018.
“The Agreement stipulates that, in the event that a new law affects the environmental plan for the Taranto plant so as to materially impair the ability to operate it or to implement its industrial plan, the Company has a contractual right to withdraw from the Agreement,” ArcelorMittal said. “Effective on 3 November 2019, the Italian Parliament has removed the legal protection necessary for the Company to implement its environmental plan without the risk of criminal liability, thus justifying the withdrawal notice.”
However, Italian Prime Minister Giuseppe Conte pushed back, arguing the contract must be respected and that he won’t “bend” on the issue, Reuters reported.
U.S. Auto Tariff Deadline Draws Near
A deadline is fast approaching.
This month, President Donald Trump will have to decide whether to impose tariffs on imported automobiles and auto parts, much to the chagrin of European automakers.
The decision comes pursuant to the processes of Section 232 of the Trade Expansion Act of 1962 — the same statute used to impose tariffs on imported aluminum and steel based on national security concerns.
Secretary of Commerce Wilbur Ross, however, cited conversations with automakers in the E.U. and Japan in noting the U.S. may not need to impose the new tariffs, Bloomberg reported.