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.
Town after town looks on in horror and dismay as the furnaces close down in the Fensch Valley in Lorraine in north-east France. The only lifeline left to the locals is the nearby Grand Duchy of Luxembourg in the shape of its banks and its factories. Nearly 80,000 workers from the Lorraine region now make the daily commute to tap the growth and higher pay on the other side of the border. Rachida El Azzouzi reports.
Ses deux hauts fourneaux sont à l’arrêt depuis des mois et pourtant ils sont « viables, fiables et rentables ». C’est ce qu’affirme un rapport d’une mission d’expertise à propos du site Arcelor Mittal de Florange, en Moselle.
