PARIS--French Industry Minister Arnaud Montebourg will start
talks on the future of Steel giant ArcelorMittal's (MT, MT.FR)
Florange steel plant, "very quickly", according to a statement from
the minister's office issued late Friday.
The statement comes after an expert's report presented to the
minister said that "a rapid and significant investment plan will be
required" at the plant, in order for the site to maintain its
competitiveness.
The minister will hold talks with ArcelorMittal's executives "to
ensure that such a development project for the site would
correspond with the company's strategy," according to the
statement.
Around two months ago, ArcelorMittal confirmed it plans to
extend for another six months the partial idling of the steel plant
until the end of 2012.
The plant's future is one of several cases which are being
closely followed by the French government as weak European demand
and competitively issues weigh on the country's industry.
French car maker Peugeot SA (UG.FR) is in the midst of intense
consultations with President Francois Hollande's government over
its recently unveiled restructuring plans.
-Write to Nadya Masidlover at nadya.masidlover@dowjones.com
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