Biz- Newz America !

Obama Thanks lakshmi Mittal For Investing In America The steel you make in Cleveland is some of the strongest you’ll find anywhere in the world, says the U.S. President U.S. President Barack Obama has thanked London-based Indian steel baron Lakshmi Mittal for investing in recession-hit America and creating jobs, as he visited a key ArcelorMittal unit, which is the largest supplier of steel to the auto sector in this country. “I want to thank your CEO, Lakshmi Mittal, for investing in America and the Cleveland area,” Mr. Obama said during his visit to the ArcelorMittal Cleveland Steel Factory, Ohio, on Thursday. This year alone, the company had invested $70 million, resulting in creation of 150 new jobs, Mr. Mittal said. “It’s a great honour for all of us at ArcelorMittal Cleveland to welcome President Obama here. We’ve been making steel in Cleveland for one hundred years,” he said in his welcome address. “The link between Cleveland’s success and our investment in advanced high strength steel has been important to our success,” Mr. Mittal said. He said, in the coming years, “We will help our automotive customers meet the demanding fuel-efficiency standards that will be required in the run up to 2025.” In a novel gesture, Mr. Mittal handed over the mike to his employee Tom Scott, who has worked for ArcelorMittal Cleveland for 40 years as a crane operator, to introduce the President. In his remarks, Mr. Obama praised ArcelorMittal for turning around the factory, which was almost shutdown during the economic recession at the beginning of his career.