-Cites 'global economic reality'
- Note earlier today it was reported that frim would cut 6% of its European workforce
- Note: on 11.24 It was reported that firm may cut 16% of US workforce
- Note: on 11.5Tthe company noted that it planned to cut its stainless steel production by 30% and its flat carbon US production by over 35%

Other headlines for [MTP.FR]

• 12/30/1899 00:00am
  RBS analysts note ArcerlorMittal and ThyssenKrupp may make significant asset value write downs in H1 of 2009- Notes TKA may write down €400M in H1 2009 - States that MTP to suffer write downs more...
  
• 12/30/1899 00:00am
  (CH) China has shelved a plan to create a steel stockpile - WSJ- The plan has been canceled after a consensus fell apart on how much steel to buy. - There was also disagreement on what type of steel more...
  
• MTP.FR 12/30/1899 00:00am
  Arecelor Mittal Extends Port Agreement With Adriana- Company and ArcelorMittal have agreed to extend the time to complete the definitive agreement contemplated in the Port Agreement from January 9 to April 22, more...
  
• 12/30/1899 00:00am
  FT is cautious on the global steel industry- The article notes that according to some analysts, 2009 steel output coud drop by at least 10% y/y, which would be the largest y/y drop in more than 60 more...
  
• 12/30/1899 00:00am
  (IN) The govt of India is looking to propose a 2nd stimulus package to help automobile and steel companies - Economic Times- A committee comprising top bureaucrats is looking at a 2% reduction in more...
  

Materials sector headlines

• Today 12:28pm
  Lyondell Spokesman: Bankruptcy filing will not impact operations at Houston refinery - interview
  
• AA Today 12:02pm
  Alcoa Inc S&P notes they "may" cut ratings; currently rated BBB+
  
• ZOLT Today 10:53am
  Zoltek Companies, Inc Hearing shares cut to Accumulate from Buy at ThinkPanmure (timing uncertain)
  
• APD Today 10:14am
  Air Products and Chemicals Inc Will extend their 10-year production joint venture with Showa Denko- JV for etch and chamber cleaning products such as tetrafluoromethane (CF4) and hexafluoroethane (C2F6); to build a new production more...
  
• MON Today 10:03am
  Monsanto Co BofA/Merrill Lynch maintains buy rating, price target $115