EnglishAugustine Kochuparampil, the CEO of Mittal Steel Galati, has announced the company"s intent to sell some of the auxiliary companies whose business is slightly different from the core business, namely steel. More precisely, the company is planning to outsource certain services by selling certain auxiliary businesses and then hiring the buyer.
"In the West, no steel works has its own oxygen plant. They sold them and now they are buying oxygen for an optimal price, much better than the cost of having their own oxygen plant," said Kochuparampil. Another reason for this move is to reduce the number of employees.
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