Lakshmi Mittal promised to stop the liquidation of his factories in Europe

The European Commission said that Arselormital on Tuesday promised to suspend the process of eliminating factories and reducing jobs in the European Union until measures aimed at preserving the steel industry in Europe.

“We will not further reduce personnel at their factories in Europe, where more than 98,000 people work today,” Antonio Taayani, vice-president of the European Commission and the EU Commissioner, quotes Arselormital.

According to the European Commissioner, Arselormital undertakes to preserve the French branch of Floorang and the Belgian plant in liezh. However, production capacities at these station wiring plants will be reduced. At the same time, the steel giant agreed to invest 180 million euros in France and another 150 million euros in Belgium to create new industries for the production of metal products for the automobile sector and packaging.

Workers released in the reduction of production capacities will be employed in other factories of Belgium and France. In his statement for the European Commission, Arselormital promised that no new restructuring and optimization, in addition to the previously stated and already implemented, is expected.

“In the event of a further deterioration in the economic situation in Europe, we intend to continue cooperation with the European Commission,” the Arselormital emphasized. The company hopes to contribute to the development of a plan for supporting the metallurgical industry of Europe, designed to overcome the consequences of a 30 percent drop in demand for metal rolling.

In the steel industry of the European Union, more than 360 thousand people work today.