The company's Luxembourg-based parent is the world's largest steelmaker. "A lack of maintenance, capital equipment and upgrades to aging plants contributed to seven catastrophic plant breakdowns at various of its plants across the country," Rob Davies, trade and industry minister, said in an opinion piece in the Business Report newspaper on Monday. "Working together in a collaborative, mutually beneficial relationship will always bring better, and even optimal, results and marry the needs and economic realities of the private sector with the country's needs," he said. The company is in talks with the government on capping steel prices should it receive protection from imports, Chief Executive Officer Paul O'Flaherty said on July 31. ArcelorMittal South Africa will comment on Davies's remarks later today, Rio Matlhaku, a spokesman for the company at Aprio Strategic Communication, said by e-mail.