Lakshmi Mittal, French govt strike deal over disputed Florange unit

Steel giant ArcelorMittal and the French government have reached an agreement on the persisting deadlock over the company's plans to shut down two furnaces in Florange and the government's nationalisation plan of the site. French Prime Minister Bernard Ayrault announced on Friday night that the government had shelved its nationalisation plan. In return, ArcelorMittal chief Lakshmi Mittal has promised to invest 180 million euros at the Florange site over the next five years and agreed to retain the 629 workers.