I understand that this has taken a lot of politicians by surprise. But we believe that this is an important and right step for the steel industry.

The torch relay is an excellent embodiment of all that the Olympic Games have come to symbolise - a celebration of the human spirit. Personally to me, it represents striving to be the best in whatever we do, never giving up despite the odds, and a commitment to health and fitness.

I understand that this has taken a lot of politicians by surprise. But we believe that this is an important and right step for the steel industry.

We are beginning to see the benefits of globalconsolidation.

At the end of the day you have to keep emotions away.

It is true that we are interested in scale but there are very sound reasons for this.

In the past twenty years, we have lived through several cycles and we have always managed to buy under good terms and conditions at the right time. This has enabled us to build a solid group that is now the world number one.