05 March 2013

RUSSIA / ROMANIA : 5 Steel Plants Sold...For Just $70; Workers Fear Mass Layoffs.

      The sale price for 5 working Romanian steel plants that employ 4,000...and earn 340,000 euros/$440,000 per year...was ridiculously low.
       Just $70 usd!
       But giant Russian metals trading company Mechel...unloaded those plants to an obscure Romanian trading company...Invest Nikrom.
       Workers are afraid the new owners will close the plants...and sell them off as scrap... without bearing any social costs.
      ArcelorMittal recently closed plants in France and Belgium because of poor steel prices in Europe.