This is not about creating a giant. It's about creating the sustainability of the steel industry. |
We are beginning to see the benefits of global consolidation, |
We are not in the business of iron ore. Whatever captive iron ore sources we have, we use it to make steel, |
We are pleased with the very positive reception our offer has received, and are confident that progress is being made towards establishing the regulatory framework for the offer. |
We have experienced highly challenging global market conditions in the past quarter with significant steel price decline in all regions. |
We have no intention of shutting down plants. We have always said there will be no redundancies or lay-offs as a result of this merger. |