ArcelorMittal plant sold to TT Iron Steel Company Ltd

[zoom rader]

The only reason to take over the plant/co is if we can produce at a profit.

If its coming without liabilities-then take it and mothball till we see higher prices..

In both cases let the ownership reside in a publicly traded entity like NEL.


But public disclosure of all the details should be the start.

Public ownership is the way to go.

Government should not get involved with this and no one man or family clan should own this.

[Cantmis]

People want another petrotrin

[MadCrix]

that is a next one that should be sold and ran by the public

[Redman]

The only reason to take over the plant/co is if we can produce at a profit.

If its coming without liabilities-then take it and mothball till we see higher prices..

In both cases let the ownership reside in a publicly traded entity like NEL.


But public disclosure of all the details should be the start.

Public ownership is the way to go.

Government should not get involved with this and no one man or family clan should own this.

ZR,
Ownership does not HAVE to mean operational control.

NEL2 fund owns 70-75%% of the equity and is floated on the exchange with limits to the beneficial ownership % and some seats on the board.

a Management co can have 25-30% -they are 'carried' and tasked to run the co.

GORTT remains with 1 share/or whatever remains and has rights of first refusal on the Mgt Co holdings.

We the people own it.
Govt doesnt run it.

win win.

[EmilioA]

Ansa had always been involved with heavy industry, they actually build plants and have technical staff.
Once plant sold without workers then they have no union to deal with.
Master stroke, get rid of workers. Sell plant and open new company without any unions to deal with.
This all sounds like it was pre planed and I bet PNM knew what's going on long before

So you dont want Govt to own IT and you dont want the Syrians to own it. So what is your solution. Leave it shut down ?

Public ownership, Citizens invest stock/shares, appoint a CEO and staff.
No one person or government should run it
Syrians keep money for themselves , hell u cant even marry there daughters .
Governments miss use and abuse state businesses

1. Exactly what preventing Sabga or Mouttet from buying 51% of the shares in this public company ?

2.

Syrians keep money for themselves , hell u cant even marry there daughters

Sound like we discover the source of ZR hangups

[MadCrix]

by limiting the amount one person or company can buy. fcb did it late last year

[BRZ]

Ansa had always been involved with heavy industry, they actually build plants and have technical staff.
Once plant sold without workers then they have no union to deal with.
Master stroke, get rid of workers. Sell plant and open new company without any unions to deal with.
This all sounds like it was pre planed and I bet PNM knew what's going on long before

So you dont want Govt to own IT and you dont want the Syrians to own it. So what is your solution. Leave it shut down ?

Public ownership, Citizens invest stock/shares, appoint a CEO and staff.
No one person or government should run it
Syrians keep money for themselves , hell u cant even marry there daughters .
Governments miss use and abuse state businesses

1. Exactly what preventing Sabga or Mouttet from buying 51% of the shares in this public company ?

2.

Syrians keep money for themselves , hell u cant even marry there daughters

Sound like we discover the source of ZR hangups

LMAO- so he also Totin rejection from ah daughter too?
LMAO Hahahahahahahaha

[De Dragon]

For the yutes on here, the Government was actually the first owner of that steel mill and the results were disastrous.

[Dizzy28]

by limiting the amount one person or company can buy. fcb did it late last year

This didn't end well though -
Rahaman and his 659,588 shares
Chanka Seeteram and his 458,274 shares as well as Medical Associates of which CS is a shareholder buying 155,261 shares.

Trinidad has too much big boys with too much interests across many companies that they can't split and buy and end up with more than allowed.

[Redman]

Well nothing will work if the rules are not enforced in a timely and equitable manner.

So limit the beneficial ownership and have controls in place.

Maybe just float a non voting issue.

[De Dragon]

Well nothing will work if the rules are not enforced in a timely and equitable manner.
So limit the beneficial ownership and have controls in place.

Maybe just float a non voting issue.

Agreed, what is/was the outcome of the SEC probe?

[Redman]

Arrival at a point where you stay quiet....cuz yuh can't move on one of the biggest party financiers....both sides.

[BRZ]

And in other news didn't AM just sign a Major 1 Billion deal in IRAN?
Well Trinidad union want to play up in their ass, labour and cost of production no longer profitable for them so, next, I'm sure the labor there works harder, longer hours, for LEss pay and the government there will subsidize their operating costs.

[Duane 3NE 2NR]

And in other news didn't AM just sign a Major 1 Billion deal in IRAN?
Well Trinidad union want to play up in their ass, labour and cost of production no longer profitable for them so, next, I'm sure the labor there works harder, longer hours, for LEss pay and the government there will subsidize their operating costs.

you better move to Iran then.

[BRZ]

Their industry has very little impact on mine, why should I consider moving ? dare I ask!

[EmilioA]

And in other news didn't AM just sign a Major 1 Billion deal in IRAN?
Well Trinidad union want to play up in their ass, labour and cost of production no longer profitable for them so, next, I'm sure the labor there works harder, longer hours, for LEss pay and the government there will subsidize their operating costs.

I guess is the union that get AM 1.3 billion dollars in debt ? And you saying we should subsidize AM ? You really is a puppet for the multi nationals boy.

Whats the point of we subsidizing them ? Best give the same money in welfare to former workers

[Redman]

Maybe the steel plant is worth more to TnT long term than its worth to AM???

[De Dragon]

And in other news didn't AM just sign a Major 1 Billion deal in IRAN?
Well Trinidad union want to play up in their ass, labour and cost of production no longer profitable for them so, next, I'm sure the labor there works harder, longer hours, for LEss pay and the government there will subsidize their operating costs.

So? What does that have to do with AM Trinidad? Iran just looking to cement their new status as 'sanction free' and revive/re-establish their industrial might. They were quite involved in heavy industry before sanctions crippled most of them.

[pugboy]

discussing the future of the steel plant is absolutely useless
mittal controls the world steel market from top to bottom

if plant were to be run independently by govt or whoever no strings attached
it would have a very hard time competing against its former owners, lol

[De Dragon]

discussing the future of the steel plant is absolutely useless
mittal controls the world steel market from top to bottom

if plant were to be run independently by govt or whoever no strings attached
it would have a very hard time competing against its former owners, lol

While Arcelor-Mittal may be the single largest steel producer in the world, they do not "control" the steel market. In fact they produce only about 10-12 % of the steel made globally. China by virtue of its supply/demand capabilities heavily influence the world steel market, but even they don't control it. The problem is that with the substantial cooling of the Chinese economy, huge oversupply has resulted as China is now essentially dumping their steel in the markets. Most of that steel was targeted at the US, but their strengthening economy/dollar, added to their tough new anti-dumping laws has forced China to look elsewhere, and thus Latin America/Asia etc. are now targeted.

[Redman]

But at some point like oil, supply brought into the market by high prices gets priced out of the market by low prices.

At some point there will be demand that is higher than supply.

The question will be whether a local steel manufacturer can be viable at that time.

[desifemlove]

The only reason to take over the plant/co is if we can produce at a profit.

If its coming without liabilities-then take it and mothball till we see higher prices..

In both cases let the ownership reside in a publicly traded entity like NEL.


But public disclosure of all the details should be the start.

Public ownership is the way to go.

Government should not get involved with this and no one man or family clan should own this.

public means state.

[De Dragon]

But at some point like oil, supply brought into the market by high prices gets priced out of the market by low prices.

At some point there will be demand that is higher than supply.

The question will be whether a local steel manufacturer can be viable at that time.

Steel industry is very cyclical by nature, and the company with a strong balance sheet and good cash flow will survive and have survived these cycles that occur every year. This is pure speculation, but Mittal has a reputation of buying steel plants in trouble for cheap, wringing the life out of them, and then discarding them.

[desifemlove]

even with WTO, sue this firm's arse..... take it up WITH the WTO itself.

http://www.trinidadexpress.com/20160314 ... elormittal

Shut up Dr. geriatric/Bosnian genocide in trini whistleblower..... what yuh tink PNM iz doing? and how will it diminish T&T's FDI position? he does realise what contributes to FDI attractiveness...ent?

this thing with Iran deal is moot. T&T must be a small operation, they shutting down dey smaller operations. remember Iran is an actual iron ore reserve, not a processing plant.

[desifemlove]

discussing the future of the steel plant is absolutely useless
mittal controls the world steel market from top to bottom

if plant were to be run independently by govt or whoever no strings attached
it would have a very hard time competing against its former owners, lol

not with ingenuity in sourcing markets. There is always room out there, and steel is always needed. constant demand.

[De Dragon]

discussing the future of the steel plant is absolutely useless
mittal controls the world steel market from top to bottom

if plant were to be run independently by govt or whoever no strings attached
it would have a very hard time competing against its former owners, lol

not with ingenuity in sourcing markets. There is always room out there, and steel is always needed. constant demand.

Yes but for that plant to survive, someone already in the market, or someone with existing markets would need to have a stake or outright ownership. You don't just build/buy a plant and then look for a market! Many of these plants have guaranteed markets or agreements that every tonne of steel produced will be bought by someone.
For a country that can't even market itself to look for markets will be minnows in the proverbial shark tank.

[fallen_angel]

maybe if we follow the way we market carnival....we can market the steel we produce similarly...

[De Dragon]

maybe if we follow the way we market carnival....we can market the steel we produce similarly...

Then we'd have to subsidize it heavily which would ultimately drain us. Think how many profitable years that we'd have to run to not only wipe out 1.3B in debt, but to start to make a profit of our own. I'm assuming of course that the debt will be part of any buyout.

[brams112]

discussing the future of the steel plant is absolutely useless
mittal controls the world steel market from top to bottom

if plant were to be run independently by govt or whoever no strings attached
it would have a very hard time competing against its former owners, lol

not with ingenuity in sourcing markets. There is always room out there, and steel is always needed. constant demand.

Where is steel in constant demand?seems like you know more than mital.Anyway looks like you still not in the loop,it cost much cheaper to import finished steel rods than buying coils or billets to manufacture rods here,just to name a few,steel coming from turkey by the containers for wholesalers,lands at retailers cheaper.

[desifemlove]

cos people still build houses wit wood...or people live in caves. and make boats/ships from wood....