We do not believe in oversupplying the market. When you are a large company, you can afford to do it. When you are a small player, your flexibility gets reduced.

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

A strong player, which has the sufficient critical mass, can withhold pressure better and create a more stable environment that benefits shareholders as well as employees.

Production cutbacks have remained in place in the third quarter and this has helped to further reduce inventory levels worldwide.

We do not believe in oversupplying the market. When you are a large company, you can afford to do it. When you are a small player, your flexibility gets reduced.

Its not always you get to hit the iron when it is hot. I believe in hitting it so hard, that it gets hot.

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