In light of the proposed acquisition of Ilva by ArcelorMittal, the Luxembourg Ministry of the Economy has issued a statement on its own position.
As part of this potential acquisition, the Deputy Prime Minister and Minister of the Economy, Etienne Schneider, has expressed his opposition in the following statement:
"I disapprove of a possible transfer of the site of ArcelorMittal Dudelange to an unknown buyer in order to respond to the concerns of the European Commission on the basis of the EU Merger Regulation. I will be speaking to both ArcelorMittal management and the Commission in Brussels so that the site in Dudelange remains the property of the group. By forcing ArcelorMittal to cede production sites in Europe, the Commission is acting against the interests of European industrial policy by hindering the creation of a true European steel champion capable of being competitive on the world market. The proposed acquisition of Ilva by ArcelorMittal and its repercussions, which are still unknown for Luxembourg, confirm the need for a permanent industrial redeployment policy. The Ministry of the Economy creates a favourable environment to keep a strong, competitive and diversified industrial sector, able to secure existing workstations. In line with the policy of diversification of the economic fabric pursued by successive governments since the steel crisis of the 1970s, we continue to proactively encourage the implementation of high value-added industrial investment projects."
