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sMASH wrote:Mittal would have closed doors regardless. China not buying as much steel, so it don't make sense to sell steel.
The union move, as selfish as it was, merely forced mortal to drop their hand sooner than later.
Me, if I was any player to do anything in this country, I would partner with one of mittal's competitors use them as the management team to run the place. Split up the ownership of the company like ttngl, where they management company has some shares, the workers has some, the ministry of energy has some on behalf of the government and float some publicly.
This would happen after u evaluate how much market is there locally for steel, and if there is potential to sell regionally at a profit. I would guess these would be small compared to what the plant could actually produce, so they would have to evaluate how much of the plant to run at a time, and how much time to have it running to minimise operational costs.
SSalaries, obviously, would be a shell of what it was before. The main concept is to keep people from the deadline while being a net gain for the treasury as opposed to a net loss.
sMASH wrote:I was thinking about just the local market and possibly regional,
sMASH wrote:I thought it would be like that, so I had the idea of making batches. Start up, have the plant producing at an efficient rate, make a set off steel, then turn back down. Same philosophy as those pie men: have a production run for your expected demand, then turn back down when u make enough.
We have all that infrastructure, lots of unemployed people, cheap energy, and a geographical advantage. I not on continuous operation, I on seasonal production runs. like, produce a set of steel during the to rainy season so it is available for purchase when people are ready to build.
It is no problem To have a little excess, just use the fifo method and don't make as much steel the next production run.
Yes, it requires a really good analysis of the workflows of each step in the process, but the idea is not to make a few people rich. Is just to be profitable enough to remain self sustainable and have employment for a few of the unemployed. and, any major profits would be shared between the management company, the workers, the ministry of energy and public
that never bothered we... 
sMASH wrote:Plants supposed to have government inspections every two years or so, no? Think about it as having and extended inspection. plants come down all the time for turnarounds, outages, trips. I agree all those things put ware and tare, but they happen all the time, and most equipment are over engineered.
zoom rader wrote:sMASH wrote:Plants supposed to have government inspections every two years or so, no? Think about it as having and extended inspection. plants come down all the time for turnarounds, outages, trips. I agree all those things put ware and tare, but they happen all the time, and most equipment are over engineered.
Government you say? Not to be trusted.
I worked at a Pt lisas plant where the lender had it own inspectors doing twice yearly inspections. They came in from UK and would run over every aspects of maintenance and the books
The banks don't trust government inspectors where their plant is concerned
sMASH wrote:Plants supposed to have government inspections every two years or so, no? Think about it as having and extended inspection. plants come down all the time for turnarounds, outages, trips. I agree all those things put ware and tare, but they happen all the time, and most equipment are over engineered.
Redman wrote:Cnc 3 stated that AMTT owed other Arcelor subsidiaries over 200 of the 280M owed to creditors.
If this is true then isn't this an Acellor Mital created bankruptcy ?
ArcelorMittal Point Lisas Limited owes US$315 million to creditors, a figure that is four times its assets of US$70 million.
This was disclosed yesterday at a meeting of the creditors at the Queen’s Park Oval, Port-of-Spain.
The event itself, however, was full of high drama as a group of former workers, led by Steel Workers Union president Christopher Henry, forced its way into the meeting after initially being denied entry by security officers.
The workers, who were adamant that they should be part of the meeting since they considered themselves creditors as well, converged on the entrance to the facility, smashing a glass door. This caused a major concern and a large contingent of heavily armed police officers was called in to support the security on site.
With things getting tense and a little physical, the workers eventually were allowed in.
During the meeting, it was disclosed hundreds of companies were owed money.
In a document leaked to the T&T Guardian, some of the creditors and money owed in US currency include:
The National Gas Company — $12,635,661; ArcelorMittal Treasury — $85,771,547; ArcelorMittal Finance — $66,576,910 and Super Industrial Services Limited — $143,023.
At yesterday’s meeting, the process of dissolving the company commenced with the appointment of liquidator Christopher Kelshall to oversee the process.
The process is to ensure the creditors are paid out of the money that will be collected from the sale of the plant.
Speaking with the media after the meeting, Henry said while the figures did not look realistic the union would not give up the fight for some sort of relief and justice.
“The process of liquidation just started and we are saying the issue of investors will now come into play in a week or two. We await that because there are investors who are still interested.
“We would like to see and would be very keen in taking a position. We will be looking at the whole process closely because the lives of the workers depend on it,” he said.
One of the questions posed by Henry was the company’s obligation to the workers in the area of pension.
He said: “We asked the question as it relates to the Privy Council judgment that we would have won but we did not get that clear response.
“Any payment to the workers as it relates to a severance for the workforce...because while the company would have terminated the services of 644 workers, we had that in the court because we did nothing to be terminated.
“That was a ploy to use to get away from the severance payment they owe us and the process of the winding up. The liquidator must explain and say where we are as it relates to that,” Henry added.
urbandilema wrote:I wonder if the owner have money in Panama or us virgin islands
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