The new labor agreement includes industrial and social aspects which shall support the company to reach its goals for a sustainable future of steelmaking in Luxembourg. "We now have a solution that reflects the economic and social reality today in Luxembourg. We hope that LCGB will also come to this result after their internal discussions. We will work further together with all our social partners to take the necessary steps so that our high value added steel products will remain best in class", says Valérie Massin, HR coordinator at ArcelorMittal Luxembourg.

Major points of the memorandum include the first phase of an investment of 35 million EUR at mill 2 in Belval to modernize the production for sheet piling. This investment shall take place in 2014 and 2015. Besides, ArcelorMittal will also invest in logistic installations at Belval and in the finishing shop at Differdange. Furthermore the company confirms to maintain production at its rolling mill in Rodange in 2014 and beyond, subject to the level of demand and profitability.

Among other points, the new collective labor agreement foresees that there will be no general salary increase in the years 2014 and 2015. This goes together with the deployment of a new system for career evolution. Beyond that, the company agreed for a new and more favorable annual and monthly performance oriented bonus system. The number of extra holidays will be reduced until 2016 from 12 to 3 days, holidays will then amount to 28 days. From 2016 onwards new extra holidays will be introduced, based on seniority and harmonization of the white and blue collar system.