POST Online Media Lite Edition



 

Unions reject new ArcelorMittal plan

Christian Fernsby |
Unions rejected a new plan by ArcelorMittal for the former ILVA steel group envisaging 4,700 lay-offs by 2023, including 2,891 immediately.

Article continues below



Topics: ARCELORMITTAL   

Unions called a strike on December 10. ArcelorMittal Italia CEO Lucia Morselli said the company had had a cash outflow of one billion euros this year.

The Franco-Indian group, the world' biggest steelmaker, has been trying to get out of the former ILVA group including its polluting Taranto works, the largest steel plant in Europe.

Industry Minister Stefano Patuanelli said the government would now advance its own plan to get to an output of eight million tonnes and safeguard jobs. He said he was "disappointed" with the "steps backward" taken by ArcelorMittal.

Patuanelli said the Italian State was "willing" to invest in the group.


What to read next

EC approves Liberty House Group purchase of ArcelorMittal's divestment businesses
ArcelorMittal to restructure in Algeria
ArcelorMittal, Nippon Steel bid for Essar Steel