France Upset With Mittal; Tension Rises

According to recent reports, tension between the steel giant Mittal and France is on a high rise as France is extremely upset with it.

Arnaud Montebourg, the French Industrial Renewal Minister said that Mittal has never respected France and therefore, doesn't wasn't it in France anymore. He further said that France is finding another industrial partner to carry out the operations further.

The minister said that the firm has never completed its commitments and has lied a lot since 2006. On October 1 this year, ArcelorMittal said of shutting down its furnaces and asked the government to find a buyer in two months.

The steel giant has already shut down blast furnaces at Florange in eastern France, but it wants to continue other activities at the site. Saturday deadline is near, that is raising the tensions among the government and Mittal because France is saying that it is having two offers for the site at Florange.

As of now, Mittal has denied selling the entire operations on the site following which Montebourg has threatened its temporary nationalization. Mittal has replied to the threat with a warning that if they sold the Florange site entirely, it will leave the 20,000 employees working there jobless.

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