5.4 C
December 1, 2021

EUR 180 M ArcelorMittal investment in Florange plant

The French government backed away on last Friday from a threat to nationalise a steelworks, saying it secured promises from the owner, ArcelorMittal, to invest and avoid any forced layoffs at the site where the company has idled two blast furnaces.According to france24.com, Prime Minister Jean-Marc Ayrault said ArcelorMittal would invest 180 million euros and had promised there would be no forced layoffs among some 630 workers there.  Ayrault said the investment would reinforce cold-steel and packaging operations at Florange and secure jobs in those areas. ArcelorMittal had pledged its investment in Florange would not come at the expense of other sites in France.

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