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 India’s 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

 World’s 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 Forum’s International
Business Council and
• The International Iron and Steel Institute’s
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
• Company’s 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 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