France and the Changing Face of Economic Power
The recent statement by France’s minister for industrial Recovery is not going to help France to continue to attract investment from the growth economies. Minister Arnaud Montebourg told French business daily Les Echos that, “We no longer want Arcelor Mittal because they do not respect France.”
“We no longer want Arcelor Mittal because they do not respect France.”
Mittal had announced plans to close two blast furnaces at its steel plant in Florange, breaking a promise made by CEO Lakshmi Mittal when Mittal Steel took over Arcelor in 2006 at a cost of 26.9 billion Euros. However, much has happened to the world since then and the industrial landscape is still changing rapidly.
Are such outbursts really going to help attract much needed investment into France? The Mittal Group currently employ over 20,000 people there and certainly many other European countries that would welcome Mittal Group’s presence.
You may have an interest in also reading…
Berenberg: Strategic Asset Allocation in a Higher Interest Rate Environment
For the first time in many years, interest rates have risen noticeably in 2022 and 2023, and as a result,
Recycling Plastic: Is it Working, and are we Doing Enough…?
Once seen as a ‘wonder material’, this by-product of the oil industry has become a global environmental menace. Millions of
Autism in Business: Help, or Hindrance?
What do you think the qualities of a successful business leader might be? If you were to ask this question
