Lakshmi Mittal, French govt strike deal over disputed Florange unit

December 1, 2012

Mittal

Paris, December 1: Steel giant ArcelorMittal and the French government have reached an agreement on the persisting deadlock over the company's plans to shut down two furnaces in Florange and the government's nationalisation plan of the site.

French Prime Minister Bernard Ayrault announced on Friday night that the government had shelved its nationalisation plan. In return, ArcelorMittal chief Lakshmi Mittal has promised to invest 180 million euros at the Florange site over the next five years and agreed to retain the 629 workers.

"Since its installation, this government has worked without respite so that the industrial site in Florange continues to survive and develop and to make sure that the workers are protected. The government had three aims - no layoffs, significant investment in the site and the maintenance of the furnaces of Florange to prepare for a future industrial project, ULCOS," Mr Ayrault said in Paris.


"ArcelorMittal have accepted the stated conditions. Tonight I can announce there will be no layoffs at Florange. The Mittal group has committed to investing at least 180 million euros in Florange over the next five years," he said.

ArcelorMittal wanted to shut down two furnaces of the site that were not profitable, triggering a huge controversy in France. France's Industrial Recovery Minister Arnaud Montebourg had threatened to nationalise the site until a new buyer was found. He also accused Mr Mittal of lying, saying he does not respect France and should therefore leave the country.

Mr Mittal gave in to the pressure that was building up before the Friday night deadline for closure. The French government wanted to find a buyer for the Florange site but said ArcelorMittal would have to give up the entire site, including the profitable part and not just the two furnaces they wanted to shut down.

Finally, a compromise was reached between ArcelorMittal and the French governement. This will be seen as a political triumph for President Francois Hollande, who had promised to save the workers' jobs. This is perhaps not a big loss for Mr Mittal, given that two thirds of his European business is based in France. Much of it is also profitable due to its proximity to the German auto industry.

"In France people tend to believe that the point of view of the state has to prevail against private interest. We are in a country where we have a statist culture. The other problem is that Mr Mittal made a lot of promises when he bought Arcelor. One of them was that he would make European management in charge of European interests and he didn't stick to his promise," said French economist Elie Cohen.

The workers at Florange, however, are not celebrating. They say they do not trust Mr Mittal's plan and are disappointed that there will be no nationalisation of the site. This despite assurances from Mr Mittal that 180 million euros will be invested and no jobs will be lost.

The sites ArcelorMittal have shutdown in Belgium and France so far were part of the group's strategy to tackle losses from over-capacity and low demand in the European steel industry. However, ArcelorMittal are likely to see this as an investment to boost its image in France.



Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 7,2020

London, Apr 7: British Prime Minister Boris Johnson was moved to the intensive care unit of a London hospital after his coronavirus symptoms worsened Monday, just a day after he was admitted for what were said to be routine tests.

Johnson was admitted to St. Thomas’ Hospital late Sunday, 10 days after he was diagnosed with COVID-19, the first major world leader to be confirmed to have the virus.

Downing Street said Johnson was conscious and did not require ventilation, but he was moved into intensive care in case he needs it later, his office said in a statement.

Britain has no official post of deputy prime minister, but Foreign Secretary Dominic Raab has been designated to take over should Johnson become incapacitated.

Hours earlier, Johnson tweeted that he was in good spirits and thanked the National Health Service for taking care of him and others with the disease.

“On the advice of my doctor, I went into hospital for some routine tests as I’m still experiencing coronavirus symptoms,″ Johnson said in the tweet. “I’m in good spirits and keeping in touch with my team, as we work together to fight this virus and keep everyone safe.″

The prime minister's spokesman said earlier Monday that Johnson had spent a comfortable night and remained in charge of government after being admitted to the hospital because his cough and fever persisted.

Johnson's spokesman, James Slack, refused to say what kind of tests Johnson was undergoing. He insisted that "the PM remains in charge of the government."

“He is receiving updates in hospital and is continuing to receive a (ministerial red) box" of files and briefing papers, Slack said.

Prime Minister Narendra Modi on Monday hoped that his British counterpart Boris Johnson, admitted to a hospital for treatment of coronavirus, finds himself in perfect health soon.

"Hang in there, Prime Minister @BorisJohnson! Hope to see you out of hospital and in perfect health very soon," the prime minister wrote on Twitter.

The 55-year-old leader had been quarantined in his Downing Street residence since being diagnosed with COVID-19 on March 26. He continued to preside at daily meetings on the outbreak until Sunday. He released several video messages during his 10 days in isolation urging Britons to stay home and observe social distancing measures to help slow the spread of the virus.

Speaking earlier at the government's daily coronavirus press briefing, Raab said Johnson was being “regularly updated," but said he had not spoken to him since Saturday.

“He's in charge, but he’ll continue to take doctors’ advice on what to do next," Raab said.

Politicians from all parties wished Johnson a quick recovery. Opposition Labour Party leader Keir Starmer tweeted: “Terribly sad news. All the country’s thoughts are with the Prime Minister and his family during this incredibly difficult time."

Johnson's fiancee, Carrie Symonds, who is pregnant, is herself recovering from coronavirus symptoms.

Johnson was admitted to the hospital as a message to the nation from Queen Elizabeth II was being broadcast Sunday evening. The 93-year-old monarch urged the public to show resolve and follow advice to stay inside.

Concerns had been growing about Johnson’s welfare ever since he posted a message Friday saying that he was feeling better, though was still feverish.

The virus causes mild to moderate symptoms in most people, but for some, especially older adults and the infirm, it can cause pneumonia and lead to death.

The government said Monday that 51,608 people had been confirmed to have the coronavirus in Britain, 5,373 of whom have died.

Derek Hill, a professor of medical imaging science at University College London, said that since COVID-19 causes difficulty breathing, one test performed on people with the disease is lung imaging with ultrasound or CT scans to see how badly they might be affected.

Hill said there are various types of breathing help, depending on the person and the difficulties.

“The reasons some people get seriously ill with COVID-19 while others have minor symptoms is not yet fully understood,″ Hill said. “But doctors managing these patients report that more men than women have serious problems, and patients who are overweight or have previous health problems are at higher risk."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 2,2020
Seoul, May 2: North Korean leader Kim Jong Un has made his first public appearance since speculation about his health began last month, cutting the ribbon at the opening of a fertilizer factory, KCNA reported Saturday.
 
Kim attended the event on Friday in Sunchon, near the capital Pyongyang, after nearly three weeks of swirling rumours that the leader of the nuclear-armed nation was seriously ill or possibly dead.
 
The North Korean leader had not made a public appearance since presiding over a Workers' Party politburo meeting on April 11, and the following day state media reported that he had inspected fighter jets.
 
At Friday's event, "all the participants broke into thunderous cheers of 'hurrah!'" when Kim appeared, the Korean Central news agency reported.
 
He inspected the facility and was "briefed about the production processes," the report said.
 
Kim "said with deep emotion" that his grandfather Kim Il Sung and father Kim Jong Il "would be greatly pleased if they heard the news that the modern phosphatic fertilizer factory has been built," it added.
 
Also in attendance were other senior officials, including his sister and close adviser, Kim Yo Jong. Photos from the ceremony were not immediately released.
 
Conjecture over Kim's health had grown since his conspicuous no-show at April 15 celebrations for the birthday of his grandfather, the North's founder -- the most important day in the country's political calendar.
 
His absence unleashed a series of unconfirmed reports over his condition, triggering global fears over the North's nuclear arsenal -- and who would succeed Kim were he unable to lead.
 
A top security advisor to South Korea's President Moon Jae-in said less than a week ago that Kim was "alive and well," downplaying rumors that he was ill or incapacitated.
 
The advisor, Moon Chung-in, told CNN that Kim had been staying in Wonsan -- a resort town in the east of North Korea -- since April 13, adding: "No suspicious movements have so far been detected."
 
South Korea Reports Kim Jong Un Is 'Alive and Well' Amid Rumours of His Death
 
South Korea has told CNN that the rumours of North Korean leader Kim Jong Un's death are untrue.
 
Rumours of ill health
 
Daily NK, an online media outlet run mostly by North Korean defectors, reported that Kim was undergoing treatment after a cardiovascular procedure last month.
 
Citing an unidentified source inside the country, it said Kim -- who is in his mid-30s -- had needed urgent treatment due to heavy smoking, obesity and fatigue.
 
Soon afterwards, CNN reported that Washington was "monitoring intelligence" that Kim was in "grave danger" after undergoing surgery, quoting an anonymous US official.
 
US President Donald Trump appeared to confirm that Kim was alive earlier this week.
 
On Friday, Trump refused to comment on Kim's reported re-emergence.
 
Previous absences from the public eye on Kim's part have prompted speculation about his health.
 
The North is extremely secretive, and doubly so about its leadership.
 
Kim's father and predecessor had been dead for two days before anyone outside the innermost circles of North Korean leadership was any the wiser.
 
In 2014, Kim Jong Un dropped out of sight for nearly six weeks before reappearing with a cane.
 
Days later, the South's spy agency said he had undergone surgery to remove a cyst from his ankle.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 8,2020

New Delhi, Jan 8: Iran will welcome any peace initiative by India for de-escalating its tensions with the US after the killing of Iranian military commander Qasem Soleimani, the Iranian envoy here said on Wednesday.

His comments come hours after Iran launched missile strikes against two US military bases in Iraq in retaliation to the killing of its top commander General Qassem Soleimani.

"India usually plays a very good role in (maintaining) peace in the world. At the same time, India belongs to this region. We welcome all initiatives from all countries, especially India as a good friend for us, to not allow escalation (of tensions)," Iranian Ambassador to India Ali Chegeni told reporters after a condolence meeting for Solemani at the country's embassy here.

"We are not for war, we are looking for peace and prosperity for everybody in this region. We welcome any Indian initiative or any project that can help peace and prosperity in this world," he said.

On the Iranian attack on US targets in Iraq, Chegeni said his country retaliated under its right to defend.

Amid spiralling US-Iran tensions over the killing of Soleimani, External Affairs Minister S Jaishankar on Sunday had a conversation with his Iranian counterpart Javad Zarif and US Secretary of State Mike Pompeo, voicing India's concerns over the escalation of tensions.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.