Lakshmi Nivas Mittal Biography
Steele worked for the family company in India, 1960s 1970s; Steel Steel, founded in 1976, founder, chair and chief executive of Ispat International; Mittal Steel 1994 for making steel with LMN Holdings merged; Arcelor Mittal Steel's merger with Arcelor Mittal 2006 to become.
Sideligts
India-born Lakshmi Mittal, Britain's richest private citizen, and his steel company in the world thanks to the global success of the fifth richest person. Mittal started small, forgotten parts of the world to buy the old steel mills, but increasingly influential over the large US as well as Europe's largest steel maker Arcelor mills included. Worth an estimated $ 27 billion, out of the public eye for a long time before recalling his father for advice like this. "You have to be high profile," London-based independent journalist quoted him Cahal Milmo "day begins to fall."
Sadulpur Mittal in 1950, India, the desert state of Rajasthan, was born in the village. The family of the 1960s, where his father began to enrich a small steel company became a partner moved in Calcutta. By 1969, Mittal St. Xavier's, Calcutta (now Kolkata) and earned a degree in accounting from a prestigious college, and joined the family steel business. In 1976, he traveled to Indonesia for his father to look into a real estate investment, and they are sure to get there instead of steel for the purchase of a rundown.
Mittal's empire were rooted in the Indonesian mill. He has his own company, which he steel, called for the establishment of the Sanskrit word "steel" and get modernized. It was a formula repeated throughout the world in the next decade: Mittal Trinidad, Mexico, and Algeria has acquired the mills, and profit-making enterprises has resulted in plants, often trained Indian managers in the successful operation of their family setting by. With the collapse of the Soviet Union in 1989, he recognized the new opportunities for your company, because several large steel mills in heavily industrialized eastern claim block. Mittal in 1995 in Kazakhstan, the former Soviet Union invested heavily in the newly independent republic. Astana ( "Iron Mountain") works required for steel making process was close to vast ore deposits, but the plant had no heat or hot water, and the workers had not been paid in months. Mittal to buy and renovate the plant has spent $ 1 billion, and it became one of the showpieces of his growing empire.
Mittal, married and father of two, in 1995, his family moved to London, including members of the Labour Party with a list of major UK social relationships formed, but their connection to both him and the British Prime Minister Tony what Blair landed on the front of the press soon dubbed the pages of British newspapers in 2001 "Mittalgate." Mittal Romania's state-owned steel company, Sidex wanted to buy, and Blair wrote a letter on behalf of the Romanian Government. Blair noted that Mittal Steel's international holding company for enterprises, LMN Holdings, a British company, but it was not; This is partly a strategy rather onerous as to avoid British taxes, was registered in the Dutch Antilles. Finally, Mittal acquired Sidex, and Blair's Labour Party and the fact that knowledge of the charity was registered corporation LMN elsewhere disavowed.
Mittal in 2004, when his company International Steel Group, a holding group with five major US steel mills to merge in October, returned to the headlines in the UK. With the purchase, Mittal Steel became the world's largest steel producer, Mittal, Britain's richest citizen, and payments made. The following year, Mittal for $ 314 million stake in China's Hunan Valin Iron & Steel Group, which it acquired the 37 percent ownership. Industry analysts wonder China Mittal, the world's largest exporter and importer of steel to not move, but warned that if steel prices fell, they could prove to be a risky investment.
Mittal, in June of 2006 when he scored a coup a bitter second-largest steel company in the world and Europe's largest emerged victorious in the battle for Arcelor of Luxembourg. Arcelor executives have opposed the acquisition, and in the trade press in Europe was a war of words waged; At one point they even head off Mittal's takeover bid to establish an agreement with a Russian company to try. "Critics," according to New York Times journalist Heather Timmons, "steel that [Mittal] him on everything from the quality of the grammar makes for comment. Arcelor officials also another" company of Indians "as Mittal steel is sent to bid as 'monkey money'. "Arcelor shareholders, however, voted in favor of Mittal and his company with a profitable track record.
British press Mittal and his family, his son Aditya Mittal Steel Chairman and Chief Financial Officer, who serves as the attraction has been involved with. Mittal's daughter, Vanisha, in France, is an extravaganza that reportedly cost $ 55 million, was married in 2004. Mittal in London, the most expensive private residence in a mansion in Kensington Palace Gardens owns. Worth $ 128 million and boasting a swimming pool embedded with expensive jewelry, home was once owned by the founder of the Reuters news agency.
His bid to gain control of Arcelor, Mittal gave up majority control of his own company, at least 44 percent of the combined Arcelor-Mittal to reduce its holding to 88 percent. Differentiating the world's fifth richest man, nor his estimated personal worth of $ 27 billion as its position did not change. Nor is there doubt that he enjoyed his intensity managerial style, which set him apart from the West will retain its industrial titan predecessors were. In a rare interview with Fortune Nelson D. Schwartz, Mittal, back in the 1990s remember a business trip to the United States when he met officials of several major steel company. "Come Friday, everyone was saying that a good weekend and play golf well," he said. "I never played golf, and it shook me that the mentality that you have to work for five days a week and had been playing golf for the rest."
Sideligts
India-born Lakshmi Mittal, Britain's richest private citizen, and his steel company in the world thanks to the global success of the fifth richest person. Mittal started small, forgotten parts of the world to buy the old steel mills, but increasingly influential over the large US as well as Europe's largest steel maker Arcelor mills included. Worth an estimated $ 27 billion, out of the public eye for a long time before recalling his father for advice like this. "You have to be high profile," London-based independent journalist quoted him Cahal Milmo "day begins to fall."
Sadulpur Mittal in 1950, India, the desert state of Rajasthan, was born in the village. The family of the 1960s, where his father began to enrich a small steel company became a partner moved in Calcutta. By 1969, Mittal St. Xavier's, Calcutta (now Kolkata) and earned a degree in accounting from a prestigious college, and joined the family steel business. In 1976, he traveled to Indonesia for his father to look into a real estate investment, and they are sure to get there instead of steel for the purchase of a rundown.
Mittal's empire were rooted in the Indonesian mill. He has his own company, which he steel, called for the establishment of the Sanskrit word "steel" and get modernized. It was a formula repeated throughout the world in the next decade: Mittal Trinidad, Mexico, and Algeria has acquired the mills, and profit-making enterprises has resulted in plants, often trained Indian managers in the successful operation of their family setting by. With the collapse of the Soviet Union in 1989, he recognized the new opportunities for your company, because several large steel mills in heavily industrialized eastern claim block. Mittal in 1995 in Kazakhstan, the former Soviet Union invested heavily in the newly independent republic. Astana ( "Iron Mountain") works required for steel making process was close to vast ore deposits, but the plant had no heat or hot water, and the workers had not been paid in months. Mittal to buy and renovate the plant has spent $ 1 billion, and it became one of the showpieces of his growing empire.
Mittal, married and father of two, in 1995, his family moved to London, including members of the Labour Party with a list of major UK social relationships formed, but their connection to both him and the British Prime Minister Tony what Blair landed on the front of the press soon dubbed the pages of British newspapers in 2001 "Mittalgate." Mittal Romania's state-owned steel company, Sidex wanted to buy, and Blair wrote a letter on behalf of the Romanian Government. Blair noted that Mittal Steel's international holding company for enterprises, LMN Holdings, a British company, but it was not; This is partly a strategy rather onerous as to avoid British taxes, was registered in the Dutch Antilles. Finally, Mittal acquired Sidex, and Blair's Labour Party and the fact that knowledge of the charity was registered corporation LMN elsewhere disavowed.
Mittal in 2004, when his company International Steel Group, a holding group with five major US steel mills to merge in October, returned to the headlines in the UK. With the purchase, Mittal Steel became the world's largest steel producer, Mittal, Britain's richest citizen, and payments made. The following year, Mittal for $ 314 million stake in China's Hunan Valin Iron & Steel Group, which it acquired the 37 percent ownership. Industry analysts wonder China Mittal, the world's largest exporter and importer of steel to not move, but warned that if steel prices fell, they could prove to be a risky investment.
Mittal, in June of 2006 when he scored a coup a bitter second-largest steel company in the world and Europe's largest emerged victorious in the battle for Arcelor of Luxembourg. Arcelor executives have opposed the acquisition, and in the trade press in Europe was a war of words waged; At one point they even head off Mittal's takeover bid to establish an agreement with a Russian company to try. "Critics," according to New York Times journalist Heather Timmons, "steel that [Mittal] him on everything from the quality of the grammar makes for comment. Arcelor officials also another" company of Indians "as Mittal steel is sent to bid as 'monkey money'. "Arcelor shareholders, however, voted in favor of Mittal and his company with a profitable track record.
British press Mittal and his family, his son Aditya Mittal Steel Chairman and Chief Financial Officer, who serves as the attraction has been involved with. Mittal's daughter, Vanisha, in France, is an extravaganza that reportedly cost $ 55 million, was married in 2004. Mittal in London, the most expensive private residence in a mansion in Kensington Palace Gardens owns. Worth $ 128 million and boasting a swimming pool embedded with expensive jewelry, home was once owned by the founder of the Reuters news agency.
His bid to gain control of Arcelor, Mittal gave up majority control of his own company, at least 44 percent of the combined Arcelor-Mittal to reduce its holding to 88 percent. Differentiating the world's fifth richest man, nor his estimated personal worth of $ 27 billion as its position did not change. Nor is there doubt that he enjoyed his intensity managerial style, which set him apart from the West will retain its industrial titan predecessors were. In a rare interview with Fortune Nelson D. Schwartz, Mittal, back in the 1990s remember a business trip to the United States when he met officials of several major steel company. "Come Friday, everyone was saying that a good weekend and play golf well," he said. "I never played golf, and it shook me that the mentality that you have to work for five days a week and had been playing golf for the rest."
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