Tag: arcelor mittal (last 300)
Don’t mess with the Belgians
(WaPo) Steelworkers from Belgium and France attacked ArcelorMittal during its shareholder meeting, throwing cobblestones and steel fencing at the building and smashing windows, protesting layoffs.
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(TO Globe) As Obama tags ‘buy american’ onto his stimulus package, the world cries foul. At risk — Canada’s $11B of steel exports for starters. US Steel and Arcelor Mittal are safe tho; they have production both sides. Hark! This be the age of protectionism?
Arcelor idles steel plant
(Yahoo) Steelmaking is on hold at the ArcelorMittal plant in Cleveland due to a drop in business. Both blast furnaces were idled this week, and the company plans to offer voluntary layoffs with partial pay.
Mittal sticks with steel plan
(WSJ) ArcelorMittal, the world’s largest steel producer by capacity, will press ahead with plans to build two plants in Jharkand and Orissa despite violent anti-Tata protests in Bengal.
Mittal layoffs sparked violence
(NYT) When Mittal Steel announced 50% layoffs in eastern France, French workers smashed their bosses’ offices and threw furniture and files out windows. ‘If a European company decided on layoffs in India, I doubt there would be any such reaction.’
Mittal sells U.S. plant
(AFP) Russian steelmaker Severstal will buy Arcelor Mittal’s Sparrow Point steel plant in Maryland for $810M. U.S. regulators required Mittal to divest the plant to buy Arcelor.
Rearden metal
(Economist) Constrained by Tata Steel, Mittal started a mill in Indonesia and turned around a state-owned firm in Trinidad to supply cheap iron pellets to his mills. His success in a dozen years is expected in Silicon Valley, not in steel.
Sarkozy dresses down Mittal
(Vid NDTV) French prez Nicolas Sarkozy summoned Lakshmi Mittal after Arcelor Mittal announced 600 job cuts in eastern France. Nativist press angry over $900M share dividend to Mittal family.