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8/7/2019 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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