Arcelor ends talks with Bethlehem Steel

Arcelor, the world’s biggest steel group, has ended talks with bankrupt US group Bethlehem Steel Corp., Arcelor Chief Executive Guy Dolle has said. “There are no more talks with Bethlehem chief (Robert) Miller,” Dolle said. He said Arcelor was unwilling to take on legacy costs from the US group’s heavy pension and health insurance liabilities. “We cannot take over this risk,” he said, although he added: “We are still open for opportunities in the USA.” Arcelor began talks about taking a stake in Bethlehem’s steel mill in Burn’s Harbour, Indiana in the summer after Bethlehem, the third largest US steel producer, filed for Chapter 11 protection last year.

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