Newspaper Liberation said that ArcelorMittal has decided to definitively shut two idled steel furnaces in northern France, prompting the Socialist government to scramble to keep the plant operational as it battles rising unemployment

Liberation, without citing its sources, reported that the Socialist government was negotiating with the world's largest steel maker to buy the two blast furnaces for a single euro so that it can then find a company willing to operate them.

The plant, which became a symbol of France's industrial decline during May's presidential election, is the last survivor of a once bustling steel region after the neighboring ArcelorMittal mill of Gandrange was wound down despite former President Nicolas Sarkozy's promise to protect it.

Florange's furnaces were shuttered in July and October 2011 amid a slump in international steel prices.

Source - Economic Times

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