|
By John W. Miller, The Wall Street Journal*
World’s top steelmaker invests in new lines to win bigger share of Europe’s auto business
ArcelorMittal agreed to invest $200 million in Florange in a new finishing line that allows it to make lightweight steel for the auto industry.
As ArcelorMittal, the world’s biggest steelmaker, looks to downsize in the U.S., it has an unlikely model for industrial success: Europe. This strip of rust-belt Northern France, known for its cathedrals and white wines, has become the heart of ArcelorMittal’s most profitable business unit. The European Union, for all its turmoil, is still the world’s most prestigious automotive market, where companies led by Germany’s Audi...
|