In view of the Competitiveness Council meeting today, ArcelorMittal welcomes and supports the upcoming European Commission Action Plan and the progress of the High Level Round Table on the future of the European Steel Industry held last week. ArcelorMittal looks forward to contributing its experience to the approval and the implementation of the Action Plan that Vice-President Tajani wishes to put high on the European political agenda.

Europe needs an ambitious and effective Action Plan, with concrete measures and actions, which puts steel manufacturing in Europe in the best position needed to adapt to the new operating reality in Europe, with steel demand down 30% from 2007 levels.

The proposed restructuring of sites in Liège and Florange has attracted a lot of attention, but they are not the only cases of steel industry restructuring in Europe. Other companies, other countries and other industry sectors find themselves in similar or even worse situations.

Bearing in mind, however, the expectations arising from the upcoming launch of the European Steel Action Plan, ArcelorMittal reiterates its proposed plans for Florange and Liege and its commitment to securing activities and retaining employment at the remaining operations with a solid investment plan for Florange (€180 million) and Liege (estimated at around €140 million). As an example, we have announced today in the local works council, the next step in the investment plan for the development of Usibor product (high strength steel for large width) in Florange. Florange and Liege will be further specialized on high end steel products such as automotive high strength steel and packaging steel. ArcelorMittal is actively exploring for the best possible solution for the people involved, including redeployment to other ArcelorMittal sites.

ArcelorMittal’s operations in Europe currently employ over 98,000 people. The company agrees on further investments which should be facilitated by the implementation of the Steel Action plan and its focus on improving competitiveness depending on the economic conditions.

ArcelorMittal looks forward to studying the Steel Action Plan when it is launched in June 2013 and confirms that no new restructuring plan is envisaged other then what is already announced and being implemented. In the event that the European situation further deteriorates we would engage with the European Commission. In the meantime, ArcelorMittal is requesting all stakeholders involved, including governments and trade unions, to contribute constructively to improving the current situation and to contribute to the development of the Steel Action Plan.