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French President Hollande says he discussed with ArcelorMittal (MT -2.3%) CEO Lakshmi Mittal...

French President Hollande says he discussed with ArcelorMittal (MT -2.3%) CEO Lakshmi Mittal "all options" regarding the fate of the embattled Florange steel plant in eastern France, including nationalization of the plant. The meeting was held as the row over MT's plan to shut two furnaces and related machinery at Florange has escalated.
Comments (6)
  • Joe Dirnfeld
    , contributor
    Comments (1128) | Send Message
     
    You have got to Love socialism, France will implode, and the racial battles there will be frightful.
    27 Nov 2012, 05:58 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    It'll be a preview of USA as socialism continues to take its hold

     

    ---get the beer and popcorn ready for the show , mate
    27 Nov 2012, 06:12 PM Reply Like
  • saratogahawk
    , contributor
    Comments (2037) | Send Message
     
    Mittal isn't likely to succumb to Hollande's threats. he will just close the mills and leave France if he has to do that.
    27 Nov 2012, 06:03 PM Reply Like
  • Terry330
    , contributor
    Comments (867) | Send Message
     
    And France will not buy any steel from companies not in France, MT will loose.
    27 Nov 2012, 06:56 PM Reply Like
  • Doug Everhart
    , contributor
    Comments (2) | Send Message
     
    Mittal is like all steel companies (bleeding cash fast ) and has few options. Continuing to operate furnaces with no cost effective markets for the output is slow death, This is a world wide epidemic in the steel industry . The behemoth integrated mills making blast furnace based steels are akin to the slow hairy mammoths trying to survive against the saber toothed tigers ( mini mills and third world steel with much lower actual costs in terms of labor, legacy costs, and government regulatory costs and restrictions).
    27 Nov 2012, 11:46 PM Reply Like
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    This story is heartbreaking.
    28 Nov 2012, 11:08 AM Reply Like
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