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
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
responsibility kind of support to:
Kazakhstan
South Africa
USA
Algeria
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