Arcelor Mittal: re-examination of the priorities

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Arcelor Mittal, world leader of steel, stated Thursday that he “re-examined the priority of his projects of growth” because of the impact of the crisis on the world demand, while confirming its “strategy”.

Last week, the group had announced that it was currently in phase of reduction of its worldwide production of steel. The fall could reach 15%.

“The current location of the market encourages us to check the set of priorities which must be assigned with each one of our various projects of growth”, the group in a written declaration indicated.

“We currently re-examine these priorities”, it added, while ensuring that its “strategy of growth remains unchanged”.

Financial Times affirmed Thursday that the world number one of steel revalued its capital spending program of 35 billion dollars from here 2015, revealed in 2007.

“Vis-a-vis a fall in the demand, and a temporary way, we are setting up reductions of the production, which could go up to 15%”, last Friday a spokesperson of the group had declared

This reduction will not be uniform on all the markets, but will touch “the zones more where demand decreased the most”. The group had announced beforehand that it would reduce its production of steel in Poland from 10 to 15% compared to the level of 2007. ( Finance Information City )