France's industry minister Arnaud Montebourg has said that the global steel giant ArcelorMittal is no longer welcome in the country, also threatening the company with temporary nationalization of its Florange plant, according to media reports.
On October 1, ArcelorMittal announced that it plans to shut down blast furnaces, permanently stopping liquid steel production at its Florange plant in the Lorraine region in northeastern France. The company gave the French government until Saturday, December 1, to find a buyer for the furnaces before starting the shutdown. While a few buyers showed interest, talks were halted since the furnaces and coke plant which Mittal has agreed to sell are not considered profitable enough without the rest of the Florange site.
The furnaces employ 600 people, but the unions are concerned that shutting down the furnaces could lead to further closures at the site and across the French steel industry.
Meanwhile, today, November 27 French president Francois Hollande will meet ArcelorMittal CEO Lakshmi Mittal to discuss the future of the Florange site.
As SteelOrbis previously, in October, ArcelorMittal stated its intention to permanently close the liquid phase at its Florange plant, citing the continuing economic difficulties affecting the French and European economies.