Lakshmi Nivas Mittal

Chairman, CEO of Arcelor Mittal

Presented to: Prof. Rege

Presented by: HR Batch
 Group Members

Names Roll Number

Niha Bhaiji 110
Maina Shetty 84
Pranjali Khanvilkar 124
Nimita Nair 113
Isha Garg 62
Monet Dodhiya 99
Pooja Thakur 122
Pankit Desai 119
“Always think outside the box and
increase the opportunities that
appear, wherever they might be”
 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
Early Life

 Born on 15th June 1950 in Sadalpur Rajasthan

 Brought up in Churu district of

Rajasthan in Marwari business family

 Graduated from St. Xaviers in Kolkata with a commerce
degree – 1969
 Started working in the family's steelmaking business
 Split from his family - 1994
 International division
 Married Usha, the daughter of a well-to-do

moneylender
 Mittal Steel is the largest steelmaker in the world
 As on July 2010 Mr Mittal is the richest man in Europe and
the fifth richest in the world
 Family

Laxmi & Usha Mittal

Mittal has two children

Vanisha
Aditya

His son, Aditya Mittal, is the CFO of

Arcelor Mittal
Personal Life
 Presently lives in Kensington, London
 Mittal's house in Kensington, London is decorated with
marble taken from the same quarry that supplied the Taj
Mahal
 The extravagant show of wealth has been referred to as the
"Taj Mittal“
 It has 12 bedrooms, an indoor pool, Turkish baths and parking
for 20 cars
Mittal's house in Kensington, London
 Professional Life

 Laxmi Mittal’s father Mohan Lal Mittal had set up

a small steel mill in Calcutta

 He moved to Indonesia in 1976
 His success has largely been built on buying up loss-making
state-owned mills and quickly turning them around
 In 1992, he went to Mexico and bought the country's third
largest steel producer, Sicartsa for $220 million
Contd…

 In1995, two new companies Ispat International Ltd. and Ispat

Shipping were formed to provide technical and commercial
services to the Group
 With this, the capacity of the group reached to 11.2 million
tonnes
 Meanwhile in 1994,  a partition in the family business group,
transferred all the foreign business into Ispat International,
under the control of Lakshmi Mittal
Contd…

 In 2004, Mittal Steel was formed through the merger of Ispat

International and LNM Holdings

 At the same time Ispat International merged with International

Steel Group Inc. (ISG) an Ohio based company

 In 2006, after six months of negotiations and major

oppositions Mittal steel took over European steel giant
Arselor SA for 26 billion euros ($33 billion)
Awards & Achievements

 2010 - "Dostyk" 1, the highest civilian award of Kazakhstan for his

contribution to the development of Republic of Kazakhstan

 2008 - Mr. Mittal has been a director of Goldman Sachs since June

 2007 - He was awarded Padma Vibhushan 'second in the hierarchy of

civilian awards' by the President of India

 2007 - He was awarded Dwight D. Eisenhower Global Leadership

Award, Grand Cross of Civil Merit from Spain and "Fellowship from

King's College”
Awards & Achievements

 2006: He was awarded International Newsmaker of the year by

Time Magazine and the "Person of the year 2006" by Financial
Times
 2004: He was awarded by Fortune magazine - European
Businessman of the Year
 1998: Willy Korf Steel Vision Award - American Metal Market
and PaineWeber’s World Steel statics
 1996 – Steelmaker of the Year – New Steel
 Mittal Steel Company
 Mittal founded the company Mittal Steel (formerly the LNM Group)
in 1976

 Mittal Steel Company was one of the world's

largest steel producers by volume, and
also one of the largest in turnover

 Company is now part of ArcelorMittal

 CEO Lakshmi Mittal's family owned 88% of the company

 The merger of Mittal Steel and Arcelor makes Arcelor Mittal largest
steel maker in the world
Major Acquisitions

 1989- Acquisition of Iron & Steel Company of Trinidad &

Tobago
 1992- Acquisition of Silbasa
 1994- Acquisition of Sidbec dosco
 1995- Acquisitions of Hamburger Stahlwerke, ISPAT
International Ltd and ISPAT Shipping, and Karmet
 1997- ISPAT International goes public
 1998- Acquisition of Inland Steel Company
Contd…

 1999- Acquisition of Unimetal

 2001- Acquisitions of ALFASID and Sidex
 2002- Business assistance agreement signed with Iscor
 2003- Acquisition of Nowa Huta
 2004- Acquisitions of Polskie Huty Stali, BH Steel,
Macedonian facilities from Balkan Steel
 2006- Merger with Arcelor
Personal and growing wealth
 In 2010, Forbes magazine listed Mittal the world's fifth richest
person with personal wealth of US$28.7 billion.

 In 2008, Mittal was reported to be the fourth wealthiest person

in the world, and the wealthiest in Asia

 In 2009, Forbes magazine listed Mittal the world's eighth

richest person with personal wealth of US$19.3 billion.

 The Mittal family owns a controlling majority stake in

ArcelorMittal, the world's largest steel company.
Causes and Charity

 Mittal Champions Trust - US$9 million

 In 2008, Mittal awarded Abhinav Bindra with Rs. 1.5 Crore

(Rs. 15 million)

 In 2007, he matched the money raised (~£1 million)

Contd…..

 ArcelorMittal also has a very active CSR program

 The company also operates the ArcelorMittal Foundation,

which provides support to many different community projects

 "The Lakshmi Niwas Mittal Institute of Information

Technology, Jaipur“ - 2003
 Criticism and Allegations

 PHS
 Successfully employed Marek Dochnal’s consultancy to
influence Polish officials in the privatization of PHS steel
group

 In 2007, Polish government said it wants to renegotiate the

2004 sale to Arcelor Mittal
 Slave-labour allegations and abhorrent safety
records
 Mr. Mittal has been accused of running a series of coal mines
in Kazakhstan with abhorrent safety records
 During December 2004, twenty-three miners died in
explosions in his mines in Kazakhstan caused by faulty gas
detectors
 “Cash for Influence”
 Controversy erupted in 2002 as Plaid MP Adam Price exposed the
link between UK prime minister Tony Blair and Mittal in the Mittal
Affair
 Environmental damage
 Mittal purchased the Irish Steel plant based in Cork from the
government for a nominal fee of £1
 The Government tried to sue in the High Court to have him pay for
the clean-up of Cork Harbour but failed
“ This is not about
creating a giant ….its
about creating the
sustainability of the
steel industry..”
-Lakshmi Niwas
Mittal
Thank You