Archive for May 13th, 2009
Corus asks banks to relax debt covenants
Corus is meeting with it’s bankers today to discuss the effects of the recession on key debt to earnings ratios.
Whilst Corus have made cutbacks in production and costs, the depth of the recession continues to take a heavy financial toll on the steelmaker.
We understand that whilst Corus is an indirect subsidiary of Tata, it does [...]
Posted: May 13th, 2009 under Steel, Steel News.
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Steelworkers storm ArcelorMittal meeting
Angry steel workers attacked the Luxembourg headquarters of ArcelorMittal, the world’s biggest steelmaker, during the company’s annual shareholders’ meeting yesterday, setting off smoke bombs and breaking through the front door in protest at temporary layoffs.
Buses had brought 1,000 workers from plants in northern France and Charleroi and Liège in southern Belgium. Some hurled cobblestones and [...]
Posted: May 13th, 2009 under Steel News.
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