Skip to comments.French minister hints at nationalising steelworks
Posted on 11/27/2012 5:58:07 AM PST by Cronos
A French minister said today that he wants to kick the world's biggest steelmaker out of the country, accusing it of lying to the government.
Industrial Recovery Minister Arnaud Montebourg was reflecting an already tense relationship between France's political leadership and steel giant ArcelorMittal.
The company said in October that it would shut down a profitable blast furnace in Florange in north-east France.
But following sustained worker protests the company gave the French government 60 days to find a new owner.
The government has raised the prospect of nationalisation to resolve the dispute.
Mr Montebourg threatened last week to nationalise the site unless ArcelorMittal co-operated in government efforts to try to secure its future.
But co-operation has evidently not been forthcoming and Mr Montebourg told business daily Les Echos today that "we don't want Mittal in France anymore because they haven't respected France."
The trouble "isn't the furnaces in Florange, it's Mittal" and the company's "lies since 2006 are overwhelming," he said.
Stakes in the standoff are high. In France alone, the company has more than 20,000 employees at about 150 sites.
A big French steelworkers' union pressed for the government to nationalise the threatened plant.
Force Ouvriere said "this is the only solution for this strategic activity for France."
Unions fear that shutting the blast furnace will lead to other closures throughout the steel industry.
oui, oui -- he should not be allowed to shut down a loss-making unit. The gubmint will take it over and the losses can be borne by the tax-payer. Toujours je suis l'idiot
Interestingly, ArcelorMittal shares rose as much as 1.9 percent and traded 1.3 percent higher at 11.67 euros at 10:45 a.m. in Amsterdam
World Communism File.
Mussolini would approve.
This is outrageous!
France still makes steel?
I thought they were down to just cheese and love.
(Are there any moose in France?)
Where is that picture of the “Not this Sh!t Again” guy?
I swear that Europe is on a perpetual search for their new Holy Roman Emperor. I am so happy that my forbears left in the 1860s. What a mess.
Paging Hank Rearden. Please pick up the red courtesy phone. Hank Rearden.
We can but hope when the company pulls out, it takes all its computers, specialized equipment, experienced managers, etc., with it.
“Oh, and btw, since you nationalized it, you are now responsible for the environmental clean up.”
An Industrial Recovery Czar publicly accusing a private firm of being a bunch of bold-faced liars.
Coming soon to an administration near you.
The French are rolling out the tumbrils.
That Socialist government will either destroy this country or will be kicked out in a few years.There is no place in this world for a country ran by this dinosaur.
Besides France looks like it is backpedaling into becoming some sort of pseudo-democracy where the Technocrats,running the government , make all the decisions.Half-hearted attempts at democracy didn’t survive too well in the Middle East,they won’t survive in Europe.
Thanks. I was hoping he was still out there somewhere...