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The Story of Lakshmi Nivas Mittal
The Story of Lakshmi Nivas Mittal
Always think outside the box and increase the opportunities that appear, wherever they might be
in Kolkata.
loss making steel owned mills and quickly turning them around.
His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha are members of the board of directors of Mittal steel.
MITTAL STEEL
left country because of Indias restrictive economic policies. He went to Indonesia to set up ISPAT INDO.
Group started spreading its activities across the globe in 1989
when it acquired an ailing plant in Trinidad and Tobago which was revived
the family. All the foreign business were hived of into a separate group ISPAT International under the control of L N Mittal while Indian operations remained with his younger brothers P K Mittal and V K Mittal
Acquisitions
and Tobago 1992 Acquisition of Sibalsa 1994 - Acquisition of Sidbec dosco 1995 - Acquisition of Hamburger Stahlwerke, ISPAT International Ltd and ISPAT Shipping formed/ Acquisition of Karmet 1997 - ISPAT International goes public 1998 - Acquisition of Inland Steel Companies 1999 - Acquisition of Unimetal 2001 - Acquisition of ALFASID/Acquisition of Sidex 2002 - Business assistance agreement signed with ISCOR
H Steel / Acquisition of Macdenonia Facilities from Balkan Steel / Creation of Mittal Steel and Proposed Acquisition of International Steel 2005 - Acquisition of Stake in Hunan Valin / ISG Acquisition completed / Mittal Steel Europe created / Mittal steel makes Fortune 500 / MDA with Liberian Government / Acquisition of Kryvorizhstal / Acquisition of Stelco subsidiaries 2006 - Merger with Arcelor
Current Status
49.2 million tones and revenue of over $28.1 billion in 2005 and
net income of $3.4 billion
No. 1 high quality steel producer with crude steel capacity with
continents
Employs 224000 people spanning 49 different nationalities
Awards
Mittal was awarded Fortune magazines
European Businessman of the Year 2004 of the Year in 1996 by New Steel in the USA June 1998
third richest man in the world and the richest non-American, with a wealth of $25 billion.
L N Mittal is a member of
The Foreign Investment Council in Kazakhstan, The International Investment Council in South Africa, The World Economic Forums International Business Council and The International Iron and Steel Institutes Executive Committee.
sense of
social
Kazakhstan
South Africa
USA Algeria India
Education
Mittal Steel South Africa has donated over $177mn to community development projects Companys latest project to sponsor South Africa national science Olympiads Mittal Steel sponsorship is valued at $1.5mn
Robust set of safety standards to reduce accidents. Mittal Steel operates an E-Room. Safe business is a good business.
Sports
Community
Main provider of electricity. Urban development project in Karaganda Mittal Steel acquired Termiratau in 1995. Constructed modern facilities for the Karaganda Metallurgical institute. In Algeria Company gave $100,000 aid. $242,000 Corporate contribution in 2005. Management & Employees equally moved by devastation when hurricane Katrina inflicted. This raised more then $500,000 for red cross.
The steel industry has always been fragmented. The steel industry
prevent being swallowed by Arcelor Mittal. Mittal is combining with Luxembourg-based Arcelor SA in a $38.3 billion transaction to create a company pouring a 10th of the world's steel.
``We are focusing on India and China,'' Mittal said July 7 in Bhubaneswar, India. ``India is a very important milestone for us to remain the biggest company in the global steel industry.''
LEADERSHIP STYLE
A transactional leader: Mittal is a transactional leader who guides and motivates his followers in the direction of established goals by clarifying role and task requirements.
The Leader in Mittal A great individual A corporate leader in business Started the trend of mergers around the world A caring family man A complete human being
This is not about creating a giant .its about creating the sustainability of the steel industry.. -Lakshmi Niwas Mittal
Contact Address :
Lakshmi Mittal Summer Palace The Bishops Avenue Hampstead Garden Suburb London N2 OAB Great Britain Phone : 0171 629 7988 Website : www.mittalsteel.com