Draghi stops selling Faber. Turn off the millionaire run for the gas and hydrogen gem

SEVIDAL – The war is also heavily involved in the economy of the Northeast. Faber Industrie: ban the sale of 99.41% to a subsidiary of the state group Russian Rosatom For nearly 150 million. The operation, which had been completed for about six months, was halted by the Prime Minister using the special powers of Golden Power. This is explained by an excerpt from the Dpcm dated June 1, 2022 that Palazzo Chigi sent to Chambers in recent days. This is the first time the government has blocked a sale to a Russian company, as only Chinese acquisitions have previously been halted.
The transaction was notified by Fafin Srl, the holding company that controls Faber Industrie in Cividale del Friuli (Udine, which has about 350 employees, also has a factory in Castelfranco Veneto), and by Rusatom GasTech Llc, a company founded in 2020. Led by Nikita Davydov, who is also the director of Umatex, Rosatom State Corporation’s composite materials division.
The majority of Faber’s shareholders, primarily the founder’s son, Giovanni Tovolotti, the current CEO, will have no problem finding another buyer. In recent months, in fact, offers or other expressions of interest have arrived from the Italian and international funds of the company, which is a leader in the design and production of cylinders and high pressure gas storage systems and is also active in the energy sector. Clean (bio-methane and hydrogen), generated more than 92 million in revenue and 3.5 million in profits last year. In particular, the French fund Tikehau, 35.5 billion in assets under management, was to appear. Also, the Italian Clessidra of the Pesenti family could have been on the right track with the millionaire offers.
On May 31, President Draghi signed the decree in which he exercised special powers in the process of transferring technology from Robox, an Italian company headquartered in the Novara region, to China’s Efort Intelligent Equipment, a leading robotics company affiliated with the Beijing government. This was the fifth veto by the Draghi government in 17 months, and it was all about China. The decision on the Rosatom process in Friuli is also a first in the hydrogen sector.

transition
In response to the Russian invasion of Ukraine, the European Union approved a plan to eliminate all Russian fossil fuels within a few years. On the other hand, the United States announced a ban on the import of oil, natural gas and coal from Russia. At the moment, Russian nuclear power has not been targeted. The Biden administration had considered imposing sanctions on Rosatom but immediately backed down after pressure from the nuclear industry and in light of a willingness to use nuclear power in the clean energy transition.
On June 15-16, a large part of the more than 300 employees of Faber Industrie joined a strike in order to reward production and performance. The deal arrived on Friday. “They were able to convince the company to maintain the current premium for at least two years with an economic increase of 240 euros on the profitability index, thus raising the total premium to more than 3 thousand euros – says Pasquale Stasio, Secretary of Vim del Friuli Venezia Giulia – the word now You go to the workers. The company informs us that it is in big trouble due to increased energy costs. We asked CEO Giovanni Tovolotti about the news of the sale being halted, a rumor that has already been circulating for months but the company has always denied: He has confined himself to only emphasizing that there are ongoing contacts with a company of the East. “.
In response to a question, CEO Tovolotti and President Giorgio Vicentini did not make any statements. According to some observers, the sale to Rosatom could have been stopped anyway: the ban already in force since 2014 (the annexation of Crimea) was already binding.

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