ArcelorMittal, France in Florange plant deal
Dec 03, 2012 | 01:48 PM
| Alexandra Chapman
LONDON The French government has backed away from a threat to nationalize ArcelorMittal SAs 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 Floranges two blast furnaces, which had been a key demand from Frances 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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