Keyword: ArcelorMittal

Hollande vows investment for 'betrayed' steel plant workers

The French President, visiting the troubled ArcelorMittal plant of Florange, said he would return each year to ensure promised investment arrives.

Riddle of the sands: ArcelorMittal financial mysteries hidden in Dubai

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In a previous article, Mediapart described how steel tycoon Lakshmi Mittal built his conglomerate on the ruins of Eastern and Western Europe’s restructuring steel industries, taking loans and subsidies but paying hardly any tax on the continent. In the second and concluding article of her investigation Martine Orange reports on how ArcelorMittal has based its financial branch in the desert of Dubai, reveals the curious network of tax-haven companies through which the Mittal family controls the operation, and wonders just why the group's results in Europe were so bad even during the good years for steel makers.

How ArcelorMittal milks Europe for tonnes of money

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Lakshmi Mittal © Reuters Lakshmi Mittal © Reuters

ArcelorMittal, the world’s largest steel producer whose chairman and CEO is London-based Indian tycoon Lakshmi Mittal (pictured), pays hardly any taxes in Europe. Making the most of the tax-break competition between European Union countries, the group juggles transfer pricing and optimal fiscal gains for its financial flow. But behind what may appear to be a common sense business approach that makes the most of what’s on offer lies a secretive organisation that prevents any proper scrutiny of the real economic performance of ArcelorMittal’s plants or subsidiary companies. In this first of a two-part investigation, Martine Orange traces the steel giant's history and lifts the veil on its hidden practices.

Steel tycoon Mittal’s shock at ‘irrational’ French minister

Lakshmi Mittal reacts to being told he was “not welcome in France” and says nationalisation of his steel plant would be a “giant leap backwards”.

Lakshmi Mittal vows to 'deliver on committments' in France

ArcelorMittal chief sends letter to workers promising to maintain steel production in France and honour committments over troubled Florange site.

ArcelorMittal shatters Florange hopes by pulling out of UCLOS plan

ArcelorMittal pulls its application to use troubled site for an EU project in less-polluting steel, dashing hopes of keeping two blast furnaces going.

Hollande pays steep price for steel plant reprieve

The French government's handling of the dispute at ArcelorMittal's steel plant in Florange, in Lorraine, has been widely judged as a major blunder.

ArcelorMittal not welcome in France anymore, says minister

Industry minister Arnaud Montebourg has accused the steel giant of "not respecting France" saying it has "never honoured its commitments". 

French industry minister mulls takeover of ArcelorMittal plant

Industry minister Arnaud Montebourg says France should consider a takeover of two blast furnaces at ArcelorMittal's steel plant in Florange.

Hollande tells ArcelorMittal to sell French furnaces it wants to close

Steel-making giant ArcelorMittal is summoned by the French government to either restart idled furnaces in north-east France or sell them.

French ArcelorMittal workers' steely determination to block plant closure

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Au Louvre Au Louvre

With just two weeks to go before the first round of the French presidential elections, growing anger over the uncertain fate of one of the last major steel-making plants in France has returned the issues of de-industrialization, globalization and the social responsibility of corporations to the fore of the political agenda. Exhausted but triumphant, a group of workers from the ArcelorMittal steel mill in Florange, north-east France, finally reached Paris on Friday amid public cheers and a battery of TV cameras after a marathon ten-day, 330-kilometre march in protest at the feared closure of part of their plant. Mathieu Magnaudeix was there to follow the men, now known across France as ‘the ArcelorMittals’, who have become the heroes of a decimated industrial heartland.