November 21, 2008

Mr Zaleski eying ArcelorMittal Gandrange - Report

Reuters reported that Mr Romain Zaleski told a French newspaper on Sunday that he is considering making an offer for ArcelorMittal's Gandrange steel plant in eastern France which the government in Paris wants to save from closure.

Mr Zaleski told Le Journal du Dimanche that “He took the decision because I am thinking about buying Gandrange via my Carla Tassara group. In Italy, we produce quality steels near Brescia but want to grow our capacity. We sell everywhere and in the special steels niche can afford higher costs of production."

Mr Zaleski last week resigned from ArcelorMittal's board and ArcelorMittal said in a statement that Mr Zaleski wanted to pursue other commercial interests in the steel sector.

Mr Zaleski was also quoted as saying by Le Journal du Dimanche that he would closely follow any moves to restructure the capital of non ferrous metals group Eramet, amid speculation that ArcelorMittal may be interested in the firm. He said "I am in Eramet for a long time. If there is a restructuring, I will look at it closely."

ArcelorMittal announced plans to stop production at Gandrange and refocus the plant on processing steel made elsewhere but granted a stay of execution after pressure from France's government.