French minister wants Mittal out of France


kracktivist

Tue, Nov 27, 2012 at 01:06

FRANCE-ARCELOR-LAKSHMI-MITTAL:French minister wants Mittal out of France

By Nicholas Vinocur and Yann Le Guernigou, moneycontrol.com
PARIS (Reuters) – Steelmaker Mittal, which acquired France’sArcelor in 2006, is no longer wanted in France due to years of broken promises, Industry MinisterArnaud Montebourg said on Monday, intensifying a row over plans to close two furnaces in northeastern France.

Montebourg’s attack on ArcelorMittal, which he later qualified, risks exacerbating tensions in a dispute that is central to Socialist President Francois Hollande‘s efforts to save jobs and reverse years of industrial decline.

It came after Montebourg, one of the most left-wing ministers in the government, said last week France could nationalise the company’s Florange site on a temporary basis while the government tries to find a buyer.

ArcelorMittal, the world’s largest steelmaker, has said it will shut down two blast…

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