Chinese people dont lie on steel. They use spring mattresses with duck feather pillows.
This MT Co.wanted to dominate the Steel mkt and went on a buying splurge hoping to break the Chinese dominance. That strategy has failed badly . MT is now saddled with so many rusty mills that deserve to be closed .
We hope that the CEO's vsist to the Khumb Mela in his home country will enable him to turn this CO. around. Personally, I dont believe it will happen
It was his stupid son's idea to buy Arcelor. A strategic disaster that even Wilbur Ross tried to put a smiley face on. I was an investor in MT when it was IST and on its dead throws. Daddy Mittal is king of steel. He has so much love for his son that he would bet the company for his son. Bad idea. The son and the daughter are has beens - daddy's money got them into good schools but they are frankly incompetent. The departure of that smart Indian Exec from SAIL was another nail in the coffin. WIlbut is long gone too......