‘Events in steel’ from the Financial Times (18 April 1978)
Caption: On 18 April 1978, the British daily newspaper Financial Times analyses the reforms introduced by the Luxembourg steel group Arbed to mitigate the decline of the steel industry. Source: Financial Times (18.4.1978), "Events in steel", David Buchan, Londres: Pearson PLC. Copyright: (c) Financial Times URL: http://www.cvce.eu/obj/events_in_steel_from_the_financial_times_18_april_1978- en-49946113-f44d-4e01-b72b-7a6759cafd5f.html Last updated: 05/09/2017
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T't MAYR.:-' ~().\lE TD~E before• c-ial , re;u!a:·;y pn!nt 1111t, is no! .-\.rbed's presc ::~ \,·nrKrorce is Europe', steel incl:.i,;tty D: .i! c.c::. p:,~~1ble ;;inn the dispHl~Y openly adm:; :,·d 'to be at leas.t tlit' structural tliant:cs needed ~o between th.:- s,ze of -'\rbetl and ~.1,uo too mar.y rnerefc,r.; takes put .it on an comi)ctith·e foi:,t- that of the duc:hy. A!i the nate 0:1 rhe propor~io:1, of a natio:i~l ing -with its lion-European gives the rnmpany is virtwil:y problem. and 1:1e way that counterparts. But this yi;ar r.uy fre-e use of ihe sinall Luxem• ,gcwernment. t1:ii rrns and the wcll se.- in that steel ma!;:n;.: huurg railwa) nt-twork, a gencr• t'Ompa-ny have ;;ou2 1r to 1:.cl~e .belt which s1rekhes lrom nus but not terril>I}' effecuve ·~Ms is also dnstruC'th·e of t.ie :southern Belgium. through ge~ture to a compan~· \l'iU1 !way people in a small com• ,Luxembourg, to the Germ:i.n distant c>xport markets. .Arbt•d :munity can pull together to :Saarland. the -foundai-iflns laid crude steel p-roduc-tJcm fell last achieve something that would for its future in the 1~80s. At y,ear by another 6.5 per cent. to tea
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t:1'.: snmc :l.ono at rre•r, '. timfi. :World. improbably lar~e though T~~s rt1 !\!:'r-,· nir of su:-;~;,h ]abnur dlt·i,;on of labour be,ween this son of projec: t m,:ht see·m ｾ＠ has Up_ t,i kno;•· br•tn ,·;:i: ·:'.IH~ )y Europe', eel eompa:iie~ ;tor a smal l counrry like Luxem- u:-:l tn r c: form rrr1aLl public Th ;~ C'nuld P.asilr sm~ch of 1 hour~ to undenake. work fo~ ~!1e gmc:·r.me1 I ;ind the £"('('l cr.rtels of the lfl20s n:: 1 ,ioh~ fnr the.• n ..- !'! pd!!Y i:(c· lf. :· The Arbeo grouµ is still and J !J3(b ar.d v.:h ;c;1 :he R·it tile b:!,il' aim ;., to offn .addin" to its interest~ outside J.rn guage l·f the Rome Trc .i;v ti'Jis lal,our, rctraint•d if nl.'Ct·S· Europe., v:h ich incl ude Braz.:lian expres~l:i· forbi ds . On the ot~e-r sary b:,· /Hbt'd i:sclf. ;o p!l:rntial ;iron ore and West \-'i r;:!inla coal, ha;id, the pre;:ent EE .-tee! forei!'!n invc~tors think.;n:: of by announcing a wire rod joint plan of EEC Comm1,s1on;·r sr:t. n~ up in L,;·;'-:n!.°'u,:r:.! -• ,emure in Sou:h Korea ea rlier Eticnnr Dav:g:rn n is in 1:1an:v al(1ng ,•1ith ;1~~i~ta;1":f• i:·1 1:n tJ;;; year. Bu: :l.e reD l a-~tion wa ~·s a r,rnd ucer c2 ne~. ·,. · th l,rbed i:1 1!1 ~ for n of r~pital. is much nearer hor,.e In 1· 0:il~.la :- y production qun.:a;; :nd indnstrfal si1 s ;.•id t t 1111i<;;l the Saarland, Arbed has fix<;d price~. 11ul with t:11.: help. strengthened it s -financial ,take cruc:ial ciiffen::n(;c that it i., r.in This was the bait which l by taking 100 per 1: e:it. in by the C11m mission nn a Euro• Prime Mini~trr Ga:-tnn Thorn I Roerhling Bu:-bach which in pean seal(·. Jn addition, the EEC and li-(i -~ rhed pre. ident · turn has a shar<' in ~eunkircher Commi sic,11 ha s for some yea r. JIL Em.inucl Tesch r:it lJeio re E:~enwerk. Tne deal had the sanctioned the groupir.g of ,a nu_m:.,er of c:ompanies on . blessing of the Bonn Go1·ern• German steel producers in,o their trip 10 th(' U.S. psl before l ment, pleased · t·hat Arbed two rationali,a~ion groups (one Easter. The pi1c'.1 of Arhcd ! .reckons it can turn rertain for the north. one fr1r 1 hi'! 'l!nd the G
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