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.

We have experienced highly challenging global market conditions in the past quarter with significant steel price decline in all regions.

We are beginning to see the benefits of globalconsolidation.

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.

This is not about creating a giant. It's about creating the sustainability of the steel industry.

There will be no job cuts arising out of this merger in Europe - this is in the interest of jobs in Europe.

We have no intention of shutting down plants. We have always said there will be no redundancies or lay-offs as a result of this merger.