On 10th March 1884 the deed of partnership of the "Società degli Alti forni, Fonderie e Acciaierie di Terni - The Blast Furnace Company, Foundry and Steelworks of Terni" was subscribed originating at the beginning of the Italian industrial development one of the one biggest productive centres of the country. The private company, which was linked to the state by financing and orders, was founded first of all for the production of steel cladding for the Italian military marine. The choice of Terni as the seat of the first industrial Italian complex depends on the presence on the premises of already active industrial plants, on the possibility of recruiting qualified craftsmanship, on its strategical geographical and on the great amount of available hydraulic power.

The company, that in 1922 was named "Terni - Società per l'Industria e l'Elettricità- Society for industry and electricity" became an industrial complex for the steel, energy, mechanical, chemical and mineral productions.