AFP reported that ArcelorMittal welcomed Saturday a deal over the future of one of its plants that the French government had threatened to nationalize.
ArcelorMittal executive Mr Henri Blaffart said “It is positive that we reached an agreement on the future of our activities at Florange. In the context of the current economic environment, it's a good agreement.”
French Prime Minister Mr Jean-Marc Ayrault announced a deal late on Friday. In it, he said ArcelorMittal had committed to invest at least EUR 180 million over the next five years at the Florange site in northeastern France in higher end steel production.
Mr Ayrault said under the deal the two blast furnaces ArcelorMittal had closed would be left intact until EU financing was confirmed for an existing carbon capture project and ArcelorMittal had agreed not to proceed with forced job cuts