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

 IndianbornBritishste l tyco n

 BornonJune15th 1950inRajasthan

 Family movedtoKolkatafromRajasthan

 Hisfather Mohanlal Mit al set up asmall ste l mill

in Kolkata.
 Finished his bachelors degre in busines and ac
ounting Mit al began his early care r in his
fathersste l firmintheearly 70s

 In 1976 Mit al moved to Indonesia and

acquired a ste l plant ISPAT INDO.

 Hissuc es haslargely be n built on

buyinguplos making ste l 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

 Mit al Groupgot intoste l industry in 1976when M L Mit al

left country becauseof India’srestrictiveeconomicpolicies.
Hewent toIndonesiatoset upISPAT INDO.

 Group started spreading its activities acros the globe in 1989

when it acquired an ailing plant in Trinidad and Tobago
which wasrevived
1994
 group underwent partition of busines interest in the
family. All theforeignbusines werehivedof intoaseparate
group ISPAT International under thecontrol of L N Mit
al whileIndian operationsremained with hisyounger
brothers P K Mit al andV K Mit al
Acquisition
s
Mittal Steel growth Timeline
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11999977 -- IISSPPAATT IInnteterrnnatiationonaallgoegoess
 Mittal Steel growth Timeline
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2 0 0 5 - A c q u i s i ti on of S tak e i n H u n an
Current
Status

 World’s largest and most global ste l company with shipment of

49.2million tonesandrevenueof over $28.1 billion in 20
5andnet incomeof $3.4billion
 No. 1 highquality ste l producer withcrudeste l capacity
withmore than70milliontonsper an um
 Ownste l makingfacilitiesin16countriesspan ing4continents
 Employs2 40 0peoplespan ing49different nationalities
Qualities and Distinctiveness
 Hardworking
 Outstandingvision
 Convincing, Motivatingandguiding
 Zeal andfiercenes
 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

Council
Businessand
• 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
Educatio
n

• 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.
Spo
r t t

ss

 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.
 “Theste l industry hasalwaysbe n
fragmented. Theste l industry ne
ds tobeconsolidated,'Mit al
saidina
 televisioninterviewonCNN.
Ste lmakersacros Asiaareput ing
defensivemeasuresinplacetoprevent
beingswallowedby Arcelor Mit al.
Mit al iscombiningwith
Luxembourg-basedArcelor SA i n a
$38.3billiontransactiontocreatea
company pouringa10thof
 theworld's ste l.
``WearefocusingonIndiaand
China,'Mit al saidJuly 7 i n
Bhubaneswar, India.
``Indiaisavery important
milestonefor ustoremain
thebig est company intheglobal ste
l industry.'
LEADERSHIP
STYLE
A transactional leader:
Mit al isatransactional
leader whoguidesand
motivateshisfollowersin
thedirectionof established
goalsby
clarifyingroleand task
requirements.
 TheLeader inMit al-
 A great individual
 A corporateleader
in busines
 Startedthetrendof
mergers around th
e world
 A caringfamily
man
 A
completehumanbe
ing
“ This is not about
creating a giant
….its about creating
the sustainability of
the steel industry..”
-Lakshmi Niwas
Mittal
Contact Address :
Lakshmi Mit al
Summer Palace
TheBishopsAvenue
HampsteadGarden
SuburbLondon
N2OABGreat
Britain Phone: 0171
629798
Website:
www.mit alste l.com