Mittal Story

Laksmi Nivas Mittal
  1. Lakshmi Nivas Mittal
      * “ Always think outside the box and increase the opportunities that appear, wherever they might be”
  2. Biography - Lakshmi Nivas Mittal
      * Indian born British steel tycoon
      * Born on June 15 th 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.
  6. 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
  8. 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...