Government contemplates purchase of ArcelorMittal; will announce decision on Monday

Finance Minister Colm Imbert will meet with the management of ArcelorMittal and representatives of the workers in two separate meetings on Friday, as the Government considers the way forward.

ArcelorMittal has offered to sell the company to the Government for $1 but there are reports that the company is in $1.3 billion debt.

ArcelorMittal aims to finalise payments to workers by month's end

ArcelorMittal says it hopes to settle termination payments by the end of this month and says it has no intention of appealling the decision of the Industrial Court last week.

The company says the payments will be close to three-month's salary and will be in accordance with the collective agreements

The company issued the following statement this afternoon:

NATUC: ArcelorMittal's closure a blessing in disguise

The National Trade Union Centre (NATUC) believes the closure of ArcelorMittal is a blessing in disguise as it can set the stage for new laws to protect workers.

NATUC issued a statement this morning challenging the Government to review the Severance Benefits Act and the Companies Ordinance.

The following is NATUC's statement:

Dr Gopeesingh calls for "meaningful discussions" with ArcelorMittal

Caroni East Member of Parliament and former Minister of Education, Dr Tim Gopeesingh is calling on the Prime Minister to engage in "meaningful discussions" with steel manufacturers ArcelorMittal.

Dr Gopeesingh says the impact of the plants' closure on downstream industries can be dire.

The following is a statement from Dr Gopeesingh:

"The Dr. Keith Rowley administration must immediately engage Arcelor Mittal in meaningful discussions with a view to having the multinational enterprise continue its operations in Trinidad and Tobago.