31.08.2017

ArcelorMittal CEO meets French President and Prime Minister to discuss the company’s investments in France

Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, met with the French President of the Republic, the Prime Minister and the Minister for Economy and Finance.

These meetings provided an opportunity to exchange views on the current economic and industrial developments and to discuss ArcelorMittal's projects in France and Europe.

Lakshmi N. Mittal presented the recent €96m investment which ArcelorMittal is making in Florange and Dunkerque, France, to anticipate the growth of the automotive steels market and consolidate Florange's position as a centre of excellence for automotive steels.

This new investment comes on top of ArcelorMittal's commitments taken with the French government in 2012. ArcelorMittal has fulfilled its commitments and beyond, with more than €200m in authorised investments since 2012, versus a commitment of €180m and a solution for each job impacted at the time.

The discussion then focused on ArcelorMittal’s strategic developments in Europe, especially the proposed acquisition of Italian steelmaker Ilva. Lakshmi N. Mittal highlighted how Ilva will strengthen ArcelorMittal’s ability to develop the European market, including favourable perspectives for the company’s French sites.

Finally, the talks highlighted the international developments in the steel markets and the need for stronger trade measures to reinforce the sustainability of the European steel industry. The European Union should ensure a level playing field in the context of significant overcapacity in Asia; it should also allow the European steel industry to be on a par with its global competitors.

Lakshmi N. Mittal received favourable feedback on these subjects and more generally, on the leading role ArcelorMittal plays in French industry and in particular the recent developments in Florange. He confirmed the strategic importance of the group’s presence in France.

corporate.arcelormittal.com/news-and-media/press-releases/2017/jul/31-07-2017

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