French minister says 'no confidence' in Lakshmi Mittal, expects him to break 'promise'

Agencies : Paris, Mon Dec 03 2012, 11:50 hrs

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The government responded by threatening to nationalise the entire site, which contains facilities to produce higher-end products that ArcelorMittal wanted to keep.

Paris said it could not find a buyer for just the furnaces.

Under Friday's deal, the two blast furnaces ArcelorMittal had closed would be left intact until EU financing was confirmed for an existing carbon-capture project, while ArcelorMittal agreed not to proceed with forced job cuts.

The dispute had left President Francois Hollande's government caught between a pledge to protect jobs and the need to improve industrial competitiveness in the face of rising unemployment and stagnant growth.

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