ArcelorMittal plant sold to TT Iron Steel Company Ltd

[sMASH]

Hoss, mital bought the plants when steel price was high, and then selling them out when it drop. He made his money, Fleck everybody.
Yes, there is a demand for steel, but not enough to match the supply. There could he a local demand, but with total living costs increasing, the value of your dollar decreasing, people loosing jobs left right and center, who really gonna b building buildings to create a sustainable local demand?

Those plants usually need a minimum production quota to make the running costs justifiable. Even the cost to start up needs to be calculated to weigh profitability.
The ipsat facility is massive, and there may not be enough local demand to justify costs of start up+running costs.


They can start up, do an efficient production run, then shut back down. just keep making batches of steel.




To me, if it could have been contracted to nu iron to run. Let nuniron use the ispat plant to produce the local demand for steel added to their own contracts .

But that would mean shutting down the nuniron facility.
So the net unemployment figure not going to be that much better.

It just hard. As a country, we now have more workers than jobs, and not enough demand for our products.

[zulu atomic]

remember when Caroni sugar estate closed down,+7000 workers was out of a job,back then they didn't had opportunities like now and they survived...

[Allergic2BunnyEars]

remember when Caroni sugar estate closed down,+7000 workers was out of a job,back then they didn't had opportunities like now and they survived...

Wasn't paying attention to things back then. Weren't they paid off? I remember a number of ex Caroni workers coming to the bank to deposit and invest their lump sums.

[pete]

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.

Further adding to the Forex problem. When you can't get USD to pay the people in turkey how is that getting here?

[Dave-ve]

remember when Caroni sugar estate closed down,+7000 workers was out of a job,back then they didn't had opportunities like now and they survived...

Wasn't paying attention to things back then. Weren't they paid off? I remember a number of ex Caroni workers coming to the bank to deposit and invest their lump sums.

A lot of Caroni workers we absorbed by contractors working for Mittal. They were let go last year.

[bluesclues]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

Yes i also heard the workers were lazy good for nothings. Used to go to work to model because things nice. Work was a party where liming was more important and productivity ridiculously low for the workforce.

Also heard there were no guntas on the workforce. Would like to see their response on live tv when asked about their work ethic and if it possibly was the most major contributor to the company's demise. Now they want government to take over so they could clock card and go home 9 o clock every day? Let them hold dey rass. life is about give and take, if u keep takin eventually it wont have nothing for you to get. But these grown adults, i shouldnt have to tell them this.

[pugboy]

those ppl different though, they were semiself sufficient and many had other means running at same time other farming etc, their chirren came out educated and less dependent
comparing apples vs pears

remember when Caroni sugar estate closed down,+7000 workers was out of a job,back then they didn't had opportunities like now and they survived...

[Allergic2BunnyEars]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

Yes i also heard the workers were lazy good for nothings. Used to go to work to model because things nice. Work was a party where liming was more important and productivity ridiculously low for the workforce.

Also heard there were no guntas on the workforce. Would like to see their response on live tv when asked about their work ethic and if it possibly was the most major contributor to the company's demise. Now they want government to take over so they could clock card and go home 9 o clock every day? Let them hold dey rass. life is about give and take, if u keep takin eventually it wont have nothing for you to get. But these grown adults, i shouldnt have to tell them this.

No guntas? Please explain what a gunta is in this context.

[De Dragon]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

Yes i also heard the workers were lazy good for nothings. Used to go to work to model because things nice. Work was a party where liming was more important and productivity ridiculously low for the workforce.

Also heard there were no guntas on the workforce. Would like to see their response on live tv when asked about their work ethic and if it possibly was the most major contributor to the company's demise. Now they want government to take over so they could clock card and go home 9 o clock every day? Let them hold dey rass. life is about give and take, if u keep takin eventually it wont have nothing for you to get. But these grown adults, i shouldnt have to tell them this.

No guntas? Please explain what a gunta is in this context.

Literally in this context.

[Allergic2BunnyEars]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

Yes i also heard the workers were lazy good for nothings. Used to go to work to model because things nice. Work was a party where liming was more important and productivity ridiculously low for the workforce.

Also heard there were no guntas on the workforce. Would like to see their response on live tv when asked about their work ethic and if it possibly was the most major contributor to the company's demise. Now they want government to take over so they could clock card and go home 9 o clock every day? Let them hold dey rass. life is about give and take, if u keep takin eventually it wont have nothing for you to get. But these grown adults, i shouldnt have to tell them this.

No guntas? Please explain what a gunta is in this context.

Literally in this context.

Literally in this context what is a gunta?

[supremacy_007]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

Yes i also heard the workers were lazy good for nothings. Used to go to work to model because things nice. Work was a party where liming was more important and productivity ridiculously low for the workforce.

Also heard there were no guntas on the workforce. Would like to see their response on live tv when asked about their work ethic and if it possibly was the most major contributor to the company's demise. Now they want government to take over so they could clock card and go home 9 o clock every day? Let them hold dey rass. life is about give and take, if u keep takin eventually it wont have nothing for you to get. But these grown adults, i shouldnt have to tell them this.

................. :/ really bro?

[zoom rader]

Meanwhile Marlene McDonald is still in office while workers on the bread lines.

Rowley protects Marlene and shuns workers

[urbandilema]

Meanwhile Marlene McDonald is still in office while workers on the bread lines.

Rowley protects Marlene and shuns workers

Don't forget oas also gonna be laying off

[dougla_boy]

Meanwhile Marlene McDonald is still in office while workers on the bread lines.

Rowley protects Marlene and shuns workers

Don't forget oas also gonna be laying off

Yup....800 or so i think...by April....will look for the article and post it up

[fallen_angel]

will d highway b completed?

[desifemlove]

UNCs dont realise that this is how globalisation works, and FDI, and Arcelor Mittal is a foreign firm not under control of the T&T government....they'll be saying no FDI, period! cool, don't complain if yuh can't buy Dell PCs, Samsung S7s, or Nissan or BMW cars.

[EmilioA]

UNCs dont realise that this is how globalisation works, and FDI, and Arcelor Mittal is a foreign firm not under control of the T&T government....they'll be saying no FDI, period! cool, don't complain if yuh can't buy Dell PCs, Samsung S7s, or Nissan or BMW cars.

According to Tim Gopiesingh, the solution is to offer more tax breaks, preferential treatment and subsidies to the multinational.

[desifemlove]

As a medical doctor, what does he know about economics? he should stick to 1990s European history, he should know about that given past statements....

does he know if this is accepted per the EU/CARICOM trade treaty? can any firm get preferential treatment? Or WTO rules? If a next steel firm comes in, would they get same treatment? or does he push forward simplistic solutions for effect?

[Kewell35]

As a medical doctor, what does he know about economics? he should stick to 1990s European history, he should know about that given past statements....

does he know if this is accepted per the EU/CARICOM trade treaty? can any firm get preferential treatment? Or WTO rules? If a next steel firm comes in, would they get same treatment? or does he push forward simplistic solutions for effect?

He most likely knows more than you.

[EFFECTIC DESIGNS]

Meanwhile Marlene McDonald is still in office while workers on the bread lines.

Rowley protects Marlene and shuns workers

He does not well not anymore.

http://www.trinidadexpress.com/20160317 ... been-fired

I can't say I am happy about this because it means all the talk and talk about how we voting PNM for a change was for nothing, we back to square one. Turns out the new PNM is hardly any better than the UNC.

So where do we turn to now?

[sMASH]

^^ neither was the pnm before, neither was the unc before that.

We just cycle through parties who just play when they're in office. We need a system to make them do a good job, make them fear the consequences of misconduct

[EFFECTIC DESIGNS]

^^ neither was the pnm before, neither was the unc before that.

We just cycle through parties who just play when they're in office. We need a system to make them do a good job, make them fear the consequences of misconduct

Is only drama queens running for politicians. Watch and see bacchanal going and take place in PNM eh cause remember imbert still there, doh forget that one and all ah dem hadda eat ah food too. And with Kamla and that Cabal retaining power of the UNC and Vasant buss out it looks like this country is in an endless spiral down a very deep latrine.

[dougla_boy]

http://www.cnc3.co.tt/news/860-oas-cons ... retrenched

860 OAS workers retrenched

[fallen_angel]

I want to make money like d syrians and sherons, can anyone link me up?
please pm me

[Allergic2BunnyEars]

http://m.guardian.co.tt/news/2016-03-21 ... %99s-offer

ArcelorMittal ‘not interested’ in union’s offer


After finding two investors willing to purchase ArcelorMittal’s steel plant in T&T, the Steel Workers Union of T&T (SWUTT) was shut down before their bid even reached the drawing table.

In an emergency press conference this morning, the union’s president Christopher Henry told the media ArcelorMittal has refused to meet with them.

“A decision was taken by the union to source investors who would be interested in succeeding ArcelorMittal Point Lisas Limited for a continued operation of the steel industry in T&T, thus securing the livelihood of thousands of citizens,” Henry said.

“A letter was sent to the company indicating such and a request was made for a meeting,” he added.

The union sent its letter on March 16, but in a response on March 18, the plant’s managing director Robert Bellisle said the liquidation process has already begun.

“As you know, the process of liquidation of the company has commenced,” Bellisle wrote. “If you would like to submit a formal proposal for the acquisition of the Point Lisas plant, we are willing to review it.

“However and given the magnitude of complexities of any acquisition process and the length of time such process would take, we would suggest that you engage in these discussions with the liquidator once one is appointed,” Bellisle wrote.

Henry is now questioning why the company was willing to sell to the Government but not to the union and it’s investors.

[sMASH]

If restarted, can the steel mill be profitable?
If so, then let the union buy It over. if not, then Mittal protecting the union from a bad investment

[zoom rader]

^^^ Making steel is the easy bit, getting it sold is the hard bit.

Whose going to buy it, Caricom?

Unions can't run a piss pot

[timelapse]

Is Trinidadian's sense of entitlement is the problem. Mittal not running a charity,they in business to make money.They don't have to do anything about anything. The union is the one responsible for Mittal pulling out, they not going to be bullied by no loudmouth Trinis. They cutting costs, is not just here alone.

[teems1]

Is Trinidadian's sense of entitlement is the problem. Mittal not running a charity,they in business to make money.They don't have to do anything about anything. The union is the one responsible for Mittal pulling out, they not going to be bullied by no loudmouth Trinis. They cutting costs, is not just here alone.

Actually Lakshmi Mittal was quite fond of the T&T plant. It was one of the first plants he acquired and made it profitable. He was then able to leverage it over the years to obtain more plants around the world and rebuild the Mittal name in the steel industry.

He kept the plant open far longer than others which were non profitable. Brazil's plants were absorbing the losses made with this one over the past few months.

[De Dragon]

Is Trinidadian's sense of entitlement is the problem. Mittal not running a charity,they in business to make money.They don't have to do anything about anything. The union is the one responsible for Mittal pulling out, they not going to be bullied by no loudmouth Trinis. They cutting costs, is not just here alone.

Actually Lakshmi Mittal was quite fond of the T&T plant. It was one of the first plants he acquired and made it profitable. He was then able to leverage it over the years to obtain more plants around the world and rebuild the Mittal name in the steel industry.

He kept the plant open far longer than others which were non profitable. Brazil's plants were absorbing the losses made with this one over the past few months.

Apparently he wasn't fond enough of AM Point Lisas. Anyone knows which two investors the union is alleged to have lined up for a possible purchase of the plant?