A process was started which represented an epoch-making chance in the state steel industry in Italy. In September 1993 ILVA, upon positive opinion of IRI, approved a division project which brought to the constitution of two new companies in the poles of Taranto and Terni with the aim of facilitating their privatization process.

The Special Flat Products Area of Terni became the Terni Acciai Speciali. In December 1994 the industrial complex in Terni was acquired by a joined company with Italian-German capital (Falck-Agarini-Riva and Krupp).