According to local media reports, French President Emmanuel Macron has stated that there will be no action by the government to nationalize ArcelorMittal France, the French unit of Luxembourg-headquartered global steel producer ArcelorMittal.
In a debate with Sophie Binet, the general secretary of the trade union association CGT (General Confederation of Trade Unions), who has been pushing for the nationalization of the steel producer, Macron expressed his desire to save the jobs under threat by ArcelorMittal France’s recent announcement on cutting down its work force in the northern parts of the country. However, Macron claimed that the nationalization of ArcelorMittal France would mean billions of euros in government spending and that he would rather implement safeguard measures to protect the European steel market from Chinese and Indian exports, recalling the Steel Action Plan adopted by the European Commission.
As previously reported by SteelOrbis, ArcelorMittal France is planning to move some of its operations to Poland or India and will cut around 600 jobs at the Dunkirk, Florange, Basse-Indre, Mardyck, Mouzon, Desvres, and Montataire plants. Protests against this highly controversial decision continue.