Open

Coming up

Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

'Caution, another Cast Lead lies ahead'

Read more

BUSINESS DAILY

Rising into the ranks of Haute Couture

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

MEDIAWATCH

A thin line between fact-checking and propaganda in Gaza social media coverage

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FOCUS

Ireland's missing babies cast light on dark history

Read more

WEB NEWS

World Cup 2014: Germany-Brazil inspires the Web

Read more

THE INTERVIEW

Boutros-Ghali: 'I wanted to reform the UN'

Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Are French high school students getting smarter?

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • In Pictures: Petrol station hit by Hamas rockets

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • Video: Living in Tel Aviv, under threat of rocket attack

    Read more

  • Video: Palestinians fear full Israeli military offensive in Gaza

    Read more

  • US prepared to negotiate Gaza ceasefire, Obama says

    Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Video: Muslims in China confront obstacles to Ramadan fasting

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

  • Senegalese man awarded French visa in gay marriage debate

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

France

Steel giant ArcelorMittal ‘not welcome in France’

©

Text by FRANCE 24

Latest update : 2012-11-26

France's minister for industrial renewal, Arnaud Montebourg, told a French financial daily on Monday that steel giant ArcelorMittal was no longer welcome to do business in the country "because they do not respect France".


French Industrial Renewal Minister Arnaud Montebourg does not want steel giant ArcelorMittal in France anymore and is looking for an industrial partner with which to take the group's operations there over on a temporary basis, he said Monday in an interview.

"We do not want Mittal in France any longer because they do not respect France," Montebourg told the French financial daily Les Echos.

"Mittal's lies since 2006 are damning," the French minister said, adding that the company "has never honoured its commitments" to the country.

ArcelorMittal has shut down blast furnaces in Florange, eastern France, but wants to maintain its other activities there, in what has become a showdown with the new Socialist government in France.

Nationalisation?

Montebourg told Les Echos he was working on a "transitory nationalisation" project for the site. The newspaper said that "the idea would be to associate an industrial operator with a minority capital stake for as long as it takes to stabilise activity" at the plant.

On October 1, ArcelorMittal said it would shut down the furnaces for good and gave the French government two months to find a buyer.

With the Saturday deadline approaching rapidly, tension between the Indian steel giant and France has risen sharply because the government says it has two offers, but only for the entire site.

ArcelorMittal has warned the government that the sale of the site would threaten the viability of the rest of its activities in France, where the group says it employs 20,000 workers.

After the company refused to sell the entire operation, Montebourg raised the threat of a temporary nationalisation in a hearing before French senators last week.

“The state wants to nationalise the site so that it can sell it on afterwards,” Jean-Luc Gaffard of the French Economic Observatory (OFCE) told FRANCE 24. “In other words the state would use its power to hand the entire site to one of ArcelorMittal’s competitors, which of course would be unacceptable for the company.”
 

 

Date created : 2012-11-26

  • FRANCE

    Moody's downgrades France despite reform plans

    Read more

  • FRANCE

    French fury at Economist’s ‘time-bomb’ warning

    Read more

  • FRANCE

    Hollande pleads for patience as French economy stalls

    Read more

Comments

COMMENT(S)