Visiting Luxembourg, headquarters of the world’s leading steel and mining company, France’s new socialist Industrial Renewal Minister Arnaud Montebourg said governments across Europe needed to band together to take on ArcelorMittal, which is headed by Indian magnate Lakshmi Mittal.

“I am trying to build a response from nations faced by the power of a group like ArcelorMittal,” Montebourg said on meeting his Luxembourg counterpart Etienne Schneider.

“These discussions are not public for now, but they could lead to joint action,” he added.

“It is important to have direct contacts with industry minister counterparts in all of Europe where there are ArcelorMittal plants”, he added. European nations needed to have mastery over steel, he said.

ArcelorMittal is the leading supplier of steel products in all major markets including automotive, construction, household appliances and packaging. It operates in 60 countries and employs about 260,000 people worldwide.

It has temporarily closed several sites in Europe, in France as well as Belgium and Spain.

In Luxembourg it has temporarily closed a blast furnace at Schifflange and cut production at the Rodange site.

Montebourg plans to discuss the issue also in Spain and in Germany.