ArcelorMittal unblocks job-saving investment at Liege

ArcelorMittal, the world's largest steelmaker, will invest 138 million euros and preserve jobs at a Belgian site after reaching an agreement with unions and the regional government.

Europe's steel industry is struggling with long-term excess production capacity, while the economic downturn has hit demand.

The decision comes days after ArcelorMittal bowed to pressure from the French government to invest in a site in north-eastern France to avoid forced layoffs.

The Belgian investment, which should help save 2,000 jobs at ArcelorMittal's plant in Liege, eastern Belgium, had been suspended after the steelmaker failed to come to an agreement with unions over details of job losses.

However, the company has now agreed the plan with unions and Jean-Claude Marcourt, minister for economy in the Walloon regional government, it said in a statement emailed on Wednesday.

The investment should help retain activities at the plant, such as rolling steel and research and development.

ArcelorMittal is closing down two blast furnaces and a foundry at its Liege site, with unions estimating that 500 jobs would be lost.


  • Long-term health cover makes good sense for both the insurer and the insured

    Long-term health insurance products make enormous sense.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Urs Schoettli

America lacks will to contain China

Recently both the Chinese leader Xi Jinping and Indian prime ...

Zehra Naqvi

Exercise gets creative juices flowing

Ever known that feeling of being sluggish and drowsy, of ...

Bubbles Sabharwal

You are what you believe yourself to be

The Gita says a man is what his shraddha is. ...


William D. Green

Chairman & CEO, Accenture