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 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