Au revoir: French finance minister says ArcelorMittal no longer welcome

The country's finance minister Arnaud Montebourg has accused steel giant ArcelorMittal of 'not respecting France' and said the firm is no longer welcome.

by Michael Northcott
Last Updated: 19 Aug 2013

The French finance minister has told a French newspaper: ‘We do not want Mittal in France any longer because they do not respect France. Mittal’s lies since 2006 are damning.’

The minister said that the steel giant ‘has never honoured its commitments’ in France, after it closed down its last operating blast furnaces in the eastern France region of Florange. The firm wants to keep certain other operations in the area, but has ended up in a bitter row with the Socialist government.

Tempers have flared because the original Mittal firm bought out the French state-owned Arcelor – which essentially made Mittal in Europe – only to close down the French operation a mere six years later.

Mittal has also warned that if it sells the whole Florange site, it will threaten the rest of its French operation, thereby putting around 20,000 jobs at risk, so understandably, the government is angry at how things have panned out.

The regulatory deadline for a solution to be reached is the coming Saturday, and whilst tensions remain high, there does not yet appear to be a deal on the table…

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Upcoming Events

Latest on MT

Brain gain: 5 things bosses can learn from neuroscience

Brain gain: 5 things bosses can learn from neuroscience

Neuroscientist Dr Tara Swart offers five ways to train your brain and get a competitive edge.

7 pieces of corporate jargon to avoid on your CV

7 pieces of corporate jargon to avoid on your CV

Management speak makes you sound smart - to other idiots. So action this results-oriented roadmap for plain speaking success going forward.

Is the EU picking on Apple with its €13bn fine?

Is the EU picking on Apple with its €13bn fine?

It may be unfair to single the iPhone maker out as a tax avoider, but mud sticks and fines sting.

Meet the entrepreneur who keeps skyscrapers in shape

Meet the entrepreneur who keeps skyscrapers in shape

Niel Bethell's building maintenance business High Access has just raised £3.3m.

What are the ingredients of the perfect C-suite?

What are the ingredients of the perfect C-suite?

Harmonious dissonance in the boardroom can be a good thing, says Dean Stamoulis.

The business of golf has landed in the rough

The business of golf has landed in the rough

EDITOR'S BLOG: Adidas and Nike are getting out after conditions turned sub-par.