ArcelorMittal says not permanently ditching ULCOS plan

PARIS Thu Dec 6, 2012 4:28pm IST

General view of the ArcelorMittal Florange-Hayange blast furnace in Hayange, Eastern France, December 3, 2012. REUTERS/Vincent Kessler

General view of the ArcelorMittal Florange-Hayange blast furnace in Hayange, Eastern France, December 3, 2012.

Credit: Reuters/Vincent Kessler

Related Topics

Stocks

   

PARIS (Reuters) - Steelmaker ArcelorMittal said on Thursday that an EU pilot project central to its deal with the government to save jobs at a site in northwestern France was not viable today for technical reasons, but it was not permanently ditching the scheme.

ArcelorMittal (ISPA.AS) earlier withdrew its application for the ULCOS project, which the government hoped could ensure a future for two idled blast furnaces at the Florange site.

"(This) is perfectly coherent with what is in the agreement signed with the French government," ArcelorMittal said in a statement after the European Commission said it had pulled its bid for ULCOS. "This in no way means the ULCOS project is being abandoned." (Reporting by Catherine Bremer; editing by Daniel Flynn)

FILED UNDER:

Reuters Showcase

Legal Complaints

Legal Complaints

Government's payday from telecoms auction could be delayed  Full Article 

Running State Banks

Running State Banks

India signals private-sector bosses could run state-owned banks  Full Article 

India Forecast Raised

India Forecast Raised

S&P raises India's GDP forecasts, says it's a bright spot in Asia  Full Article 

StanChart CEO

StanChart CEO

StanChart picks ex-JPMorgan exec Winters as CEO to replace Sands  Full Article 

Wockhardt Plant

Wockhardt Plant

Wockhardt says FDA raises new concerns about Waluj plant  Full Article 

Banking Sector

Banking Sector

State-owned banks' capital needs may be higher - RBI deputy  Full Article 

Shares Sale

Shares Sale

Bharti Airtel says raised $310 mln through share sale in tower unit  Full Article 

Inflation Target

Inflation Target

India should meet RBI inflation target by Jan 2016 - RBI deputy  Full Article 

International Exchange

International Exchange

NSE plans to set up international exchange in Gujarat  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage