we don’t want Mittal in France anymore because Indian CEO is lying

[cojak]

It's all about Global supply and demand, innit.

Zacks Industry Outlook Highlights: ArcelorMittal, United States Steel Corp, Nucor Corporation and AK Steel Holding Corporation - Yahoo! Finance

(Something the French doesn't think applies to them...)

[mos]

He's currently waiting for the 2nd shoe to drop, as it were.

[The Spartan]

It's all about Global supply and demand, innit.

Zacks Industry Outlook Highlights: ArcelorMittal, United States Steel Corp, Nucor Corporation and AK Steel Holding Corporation - Yahoo! Finance

(Something the French doesn't think applies to them...)

I'm waiting to see how Hollande introduces the growth he promised

[mos]

I'm waiting to see how Hollande introduces the growth he promised

It seems that Mittal was doing the same thing all over Europe for years . I found older (2006) article in Polish newspaper (translated in Google):

"Mittal took over the Polish steelworks, promising investments, which he does not do. Now in the same way he wants to take over Huta Czestochowa. To date, not a penny spent on the most important investment, not shifted gram of soil. Instead, it is arrogance. Mittal leads wasteful economy in Poland (...) Just move from square to square boards informing about construction."

However in the article in Spanish Paper published prior to hostile takeover of the Arcelor you can read that "Unions hail Mittal as Polish steel industry's white knight. (...) Mittal has pumped huge amounts of cash into the Polish venture"


He is still in Poland - but he did not get the Czestochowa Site .

I hope that someone in Europe finally will call his bluff and makes him pay.

[mos]

"if France doesn’t want you, Britain does" (Mayor Boris Johnson )


"[Mittal], bought Arcelor SA in a hostile bid in 2006, after promising not to cut jobs and shift or cut investments. Former President Nicolas Sarkozy signed off on the deal. Luxembourg-based ArcelorMittal now wants to close the furnaces at the site and slash more than 600 jobs, blaming a slump in the steel industry."

Mr Mittal has died and arrived in heaven. God said: "With all that you have done in France and especially in Lorraine, there is no way that I can welcome you to heaven. Go straight to hell. "

Three days later Satan knocks on the door of heaven and said to God:
"Take him back, he has already turned off three ovens"

[cojak]

we don’t want Mittal in France anymore because Indian CEO is lying

And Boris walks up to him, hands him his card and says 'call me, you'll fit right in at The City'

[lilelvis2000]

Next up, the French will use the massive EU farming subsidy to start subsidising steel production. Your tax dollars at "work" my friends.

[mos]

Next up, the French will use the massive EU farming subsidy to start subsidising steel production. Your tax dollars at "work" my friends.

We already are indirectly subsidizing Steel production through cheap energy. I mean, the normal people like you, me and your 70 yrs old nan.

Publicised cases are:
UK (Tata beneficiary)
Romania, Poland (Mittal beneficiary).

Agreed, I would not be too happy about EU subsidies going straight towards the purchase of another £100M + house for Mittal and his family in London billionaire row.

[sasguru]

We already are indirectly subsidizing Steel production through cheap energy. I mean, the normal people like you, me and your 70 yrs old nan.

Publicised cases are:
UK (Tata beneficiary)
Romania, Poland (Mittal beneficiary).

Agreed, I would not be too happy about EU subsidies going straight towards the purchase of another £100M + house for Mittal and his family in London billionaire row.

I'm struggling to see your point. Are you suggesting that unprofitable steel plants be kept open regardless of market conditions? I'm guessing the Great Recession means demand for steel has fallen worldwide.

[shaunbhoy]

I'm struggling to see your point.

No change there then...............