ArcelorMittal, France in Florange plant deal
Dec 03, 2012 | 01:48 PM
| Alexandra Chapman
Tags
Florange plant,
steel plant,
French government,
ArcelorMittal,
hot steel,
French government,
Jean-Marc Ayrault,
ArcelorMittal Flat Carbon Europe
Henri Blaffart
LONDON — The French government has backed away from a threat to nationalize ArcelorMittal SA’s Florange steel plant after the company said it would preserve jobs and invest more at the site.
The agreement, reached Nov. 30, will continue with its process of shutting liquid steel production at the site.
The deal will not involve the restart of Florange’s two blast furnaces, which had been a key demand from France’s government and Florange workers’ unions. But ArcelorMittal has pledged no more compulsory redundancies among more than 600 staff and has promised to invest €180 million ($234 million) in downstream operations, French Prime Minister Jean-Marc Ayrault said in a statement. ....
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