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The steel giant has partially and temporarily given in to the European institutions. ArcelorMittal partially accepted the request made by Antonio Tajani, European Commissioner for Industry, to suspend restructuring procedures until he launched his Action Plan for the steel industry, expected in June. ArcelorMittal said it would not start more restructuring processes than the ones already announced, the group said in a press release on February 19. Tajani got the steel group to confirm its commitments to combine the reduction of capacity at Florange (France) and Liège (Belgium) with an investment plan, respectively for EUR 180 million and EUR 140 million. The investments will turn the sites into highly specialized facilities for state-of-the-art produces for the auto or packaging industry. Lakshmi Mittal is not changing his strategy for the French, Belgium or European governments. (Ref. 130131)
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130131
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