Transcript Document

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
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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
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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
responsibility kind of support to:
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Kazakhstan
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South Africa
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USA
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Algeria
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India
sense
of
social
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