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

[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."

[SimonMac]

**** off France, so if six years after a deal, when the economy has collapsed they have to keep a loss making subsidiary going at the risk of the overall group?

Talk about a handcuff clause!

[eek]

"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."

The French are doing a king Canute. You must keep producing steel even after your customer has closed done regardless of market reality.

[The Spartan]

We all know the French are very precious, just look at their working rights it's all geared towards them and they throw an almighty strop when someone tries to change them.

[mos]

The French are doing a king Canute. You must keep producing steel even after your customer has closed done regardless of market reality.

Imagine that a few year ago you were allowed to buy historic building with the condition that you restore it. However now you decided that it would make better business sense to knock it down and sell the plot citing change in economic conditions.

Will that make you richer? yes
But is that fair and honest ?

[cojak]

Rubbish - don't confuse history with business.

[The Spartan]

Plus we're talking about 6 years, do you think Mittal thought "Oh in 6 years, there will be a massive global downturn" when he bought Arcelor

People in Wales are also losing there jobs in the steel industry but I've not seen anything reported similar to what the French are saying

[KentPhilip]

Imagine that a few year ago you were allowed to buy historic building with the condition that you restore it. However now you decided that it would make better business sense to knock it down and sell the plot citing change in economic conditions.

Will that make you richer? yes
But is that fair and honest ?

Completely fair and honest.
If you don't like the idea of a historic building being knocked down, stump up your own money and buy it from him.

[mos]

Completely fair and honest.
If you don't like the idea of a historic building being knocked down, stump up your own money and buy it from him.

Well ... Now that the government money is to be had it looks that Tata Steel beat me to it ...

Tata Steel in fray to buy 2 Arcelor Mittal furnaces; stk up - Moneycontrol.com

There seem to be some racists accusations thrown in the mix ... interesting how this will all end.
http://www.firstpost.com/economy/mit...sm-539572.html

[mos]

Plus we're talking about 6 years, do you think Mittal thought "Oh in 6 years, there will be a massive global downturn" when he bought Arcelor

People in Wales are also losing there jobs in the steel industry but I've not seen anything reported similar to what the French are saying

Perhaps they should ...

Tata Steel in fray to buy 2 Arcelor Mittal furnaces; stk up - Moneycontrol.com