laxmi_mittal__2_
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Lakshmi Nivas MittalChairman, CEO of Arcelor
Mittal
Presented to: Prof. Rege
Presented by: HR Batch
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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
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Always think outside the box and
increase the opportunities that
appear, wherever they might be
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History of Mittal Steel
Mittal Group got into steel industry in 1976 when M L Mittal left
country because of Indias 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
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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
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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
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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
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Mittal has two children
His son, Aditya Mittal, is the CFO of
Arcelor Mittal
Aditya
Vanisha
Laxmi & Usha Mittal
Family
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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 TajMahal
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
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Mittal's house in Kensington, London
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Professional Life
Laxmi Mittals 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
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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
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Contd
In 2004, Mittal Steel was formed through the merger of Ispat
International and LNM Holdings
At the same time Ispat International merged with InternationalSteel Group Inc. (ISG) an Ohio based company
In 2006, after six months of negotiations and major
oppositions Mittal steel took over European steel giant ArselorSA for 26 billion euros ($33 billion)
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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
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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 PaineWebers World Steel statics
1996 Steelmaker of the Year New Steel
Awards & Achievements
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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 largeststeel maker in the world
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Major Acquisitions
1989- Acquisition of Iron & Steel Company of Trinidad &
Tobago
1992- Acquisition of Silbasa
1994- Acquisition of Sidbec dosco
1995- Acquisitions ofHamburger Stahlwerke, ISPAT
International Ltd and ISPAT Shipping, and Karmet
1997- ISPAT International goes public
1998- Acquisition of Inland Steel Company
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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
Contd
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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 personin 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.
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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)
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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
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Criticism and Allegations
PHS
Successfully employed Marek Dochnals 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
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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
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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 CorkHarbour but failed
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This is not about
creating a giant .its
about creating thesustainability of the
steel industry..
-Lakshmi Niwas Mittal
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Thank You
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