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…
CORDET Capital: Unlocking the Potential of Northern Europe’s Lower Mid-Market
With a sharp focus on delivering compelling risk-adjusted returns, CORDET Capital has positioned itself as a distinctive force in private
Raiffeisen Certificates: Investing in Capital Markets — with Protection
No one wants unnecessary risk — least of all Austrians, who traditionally display caution when investing in capital markets… Raiffeisen
Hands-on, Dedicated to Excellence, Driven by Inclusion and Diversity: Meet the Head of Scottish Friendly
This CEO is fulfilling the aspiration for his mutual to become a leader in the UK insurance sector. Scottish Friendly
