ArcelorMittal (MT) has been placed under judicial supervision for allegedly causing environmental harm from industrial pollution at its Fos-sur-Mer site in France and forgery, Reuters reported Tuesday, citing the Marseille public prosecutor's office.
According to an emailed statement to the news outlet, the prosecutor's office said the steelmaker was subject to a 250,000 euros ($270,162) deposit and a 1.75 million euros bank guarantee.
The company was sued in 2018 by the French non-profit Association de Defense et Protection du Littoral du Golfe de Fos (ADPLGF), unions, and hundreds of local residents, Reuters reported.
ArcelorMittal told Reuters that it has invested over 735 million euros to reduce the emissions at the site, which it said is now 70% lower compared with 2002, and claims no falsification of data.
ArcelorMittal didn't immediately reply to a comment request from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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