Lakshmi Nivas Mittal

Always think outside

the box and increase the
opportunities
that
appear, wherever they
might be

Why Lakshmi Nivas Mittal ?

Biography - Lakshmi Nivas Mittal

Indian born British steel tycoon
Born on June 15th 1950 in Rajasthan
Family moved to Kolkata from Rajasthan
His father Mohanlal Mittal set up a small

steel mill in Kolkata.

Finished his bachelors degree in business

and accounting Mittal began his early

career in his fathers steel firm in the early
70s
In 1976 Mittal moved to Indonesia and

acquired a steel plant ISPAT INDO.

His success has largely been built on

buying up 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

History of Mittal Steel

Mittal Group got into steel industry in 1976 when M L

Mittal 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

1994 group underwent partition of business

interest in 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

Mittal Steel growth Timeline

1989 Acquisition of Iron and Steel company of

Trinidad 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

Mittal Steel growth Timeline

2003 - Acquisition of NOVA HUT
2004 - Acquisition of Polski Huty State/

Acquisition of B 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

Worlds largest and most global steel company with

shipment of 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 more than 70 million tons per annum

Own steel making facilities in 16 countries spanning 4

continents
Employs 224000 people spanning 49 different nationalities

Qualities and
Distinctiveness
Hard working
Outstanding vision

Convincing, Motivating and guiding

Zeal and fierceness
Capacity to lead
Bravery

Awards
Mittal was awarded Fortune magazines

European Businessman of the Year

2004

Previously, he was awarded Steelmaker

of the Year in 1996 by New Steel in the

USA

The Willy Korf Steel Vision Award in

June 1998

In March 2005, Forbes named him the

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.

L N Mittal is on the advisory board of the

Kellogg School Of Management in the US

CORPORATE SOCIAL RESPONSIBILITY

Mittal Steel believes that businesses should play a major role
in supporting the communities in which they operate.
Operations by Mittal Steel in the sense of social
responsibility kind of support to:

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

Health and Safety

Robust set of safety standards to reduce

accidents.
Mittal Steel operates an E-Room.
Safe business is a good business.

Sports

Sponsorship &support to football , basketball &

other sports.
Sporting beneficiaries are Czech Republic,
Romania & Algeria.
Sporting link with west Indies

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 needs to be consolidated,''
Mittal said in a television interview
on CNN.

Steelmakers across Asia are putting

defensive measures in place to

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 MittalA 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