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Arcelor board to decide future of loss-making inland plants, Cockerill fate sealed ?
Arcelor, the world's largest steel group created from the merger between France's Usinor, Spain's Aceralia and Luxembourg's Arbed, is to crystallise the fusion of the groups with a restructuring plan that will take it forward for the next ten years. The groups are likely to announce the closure of some of 4 inland steel production plants in Breme (Germany), Florange (France) and Liege (Belgium). With thousands of jobs at risk in each of these unprofitable plants, which are disadvantaged by their distance from the ports, the board could opt for anything between closing one or two of them to ceasing all activities there except steel transformation. The fate of the Liege plant, the most loss-making of the three, is more or less sealed, but the other plants have their specialisation and proximity to major clients as their only defence. (source: Le Monde/ La Libre)
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25/05/2012 17:35
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