Annual report on investment in the coal and steel industries The European Commission has recently adopted the 1997 annual report on investment in the coal and steel industries of the European Union (EU). This report reflects the investment strategies of European Coal and Steel Community (ECSC) companies and describes the trends in the c... The European Commission has recently adopted the 1997 annual report on investment in the coal and steel industries of the European Union (EU). This report reflects the investment strategies of European Coal and Steel Community (ECSC) companies and describes the trends in the coal and steel production capacities of the Member States as revealed by the annual survey conducted by the Commission. Details of capital expenditure in the coal industry since 1989 are provided in the report, which shows the continuation of a downward trend. Similarly figures are provided for the steel industry, which show that steel companies are maintaining a healthy level of capital expenditure, which is aimed at improving the quality of products and maintaining existing production plants. The report also gives a breakdown of capital expenditure by type of production plant. The main conclusions of the report show that, in 1996, steel companies saw a marked upturn in their operating accounts, even though steel production remained at a fairly low level compared with the four previous years. The 1997 data shows that the positive trend in the steel industry is continuing and that the high level of capital expenditure is being maintained. European coal production is, however, expected to continue its downward trend in the face of competition from international coal and other energy sources.
