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Thread : Mittal's business under threat in France

    Mittal's business under threat in France
    by: admin on 28th Nov'2012

    Lakshmikanth Mittal stands in the forefront among the succesful business empire holders outside India.

    He holds steel companies all over the globe and Arcelor Mittal is one his business units in Europe.

    His French business holdings are under serious threat from current French Government with both the President Mr Hollande as well as French Industrial Renewal Minister Arnaud Montebourg issuing serious threats of nationalisation of the Mittal holdings in France.

    French government is working hard to resurrect its failing economy and is using the nationalisation threat in order to pursue the full functional capacity for job creation at closed Mittal's Florange plant.

    Mittals proposes to shut down two of the furnaces at Florange plant blaming the uncompetitive business in the declining economic conditions.

    Hollande and Mittal hed meeting on Tuesday this week in which Hollande seems to have put lot of pressure on Mittal to guarantee long term employment at Arcelor Mittal for its employees at the Florange plant.

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