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Topic: Lakshmi Mittal


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  Lakshmi Mittal Biography
Lakshmi Narayan Mittal also known as Lakshmi Niwas Mittal is a billionaire industrialist, born in Rajasthan, India in 1950.
Mittal pioneered the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking and led the consolidation process of the global steel industry.
Mittal was awarded Fortune magazines “European Businessman of the Year 2004” and also “Steelmaker of the Year” in 1996 by New Steel, and the “Willy Korf Steel Vision Award” in 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber’s World Steel Dynamics.
www.investingvalue.com /investment-leaders/lakshmi-mittal   (474 words)

  
  Lakshmi Mittal - Wikipedia, the free encyclopedia
Lakshmi Niwas Mittal (born June 15, 1950) is a London-based Indian billionaire industrialist, born in Sadulpur, in Churu district of Rajasthan, India, and residing in Kensington, London.
Today he is chairman and CEO of the Mittal Steel Company NV, which is the world's largest producer of steel, with steel assets in Romania, Bosnia-Herzegovina, South Africa, Poland, Indonesia, Kazakhstan, the United States, Ukraine and other countries.
Many suspected that a donation by Mittal to the British Labour Party had led to Blair's intervention (a letter to the Romanian Prime Minister) in a business deal favouring Mittal.
en.wikipedia.org /wiki/Lakshmi_Mittal   (530 words)

  
 Mittal Steel Company - Wikipedia, the free encyclopedia
Mittal Steel is based in Rotterdam, in the Netherlands but is managed from London by Mittal and his son Aditya.
It was formed when Ispat International N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group Inc. (the remnants of Bethlehem Steel, Republic Steel and LTV Steel) in 2005.
In October 2005 Mittal Steel acquired Ukrainian steel manufacturer Kryvorizhstal for $4.8 billion in an auction after a controversial earlier sale for a much lower price to a consortium including the son-in-law of ex-President Leonid Kuchma was cancelled by the incoming government of President Viktor Yushchenko.
en.wikipedia.org /wiki/Mittal_Steel_Company   (723 words)

  
 Lakshmi Mittal may cut Mittal stake: report - Boston.com
Lakshmi Mittal, the owner of Mittal Steel , may give up his controlling stake in the group to help overcome opposition to his takeover bid for Luxembourg-based rival Arcelor , the Financial Times said on Monday.
Lakshmi Mittal's advisers are considering bringing his stake down to below 50 percent, the newspaper said in an unsourced report.
Mittal, the world's third-richest man and founder of the steel giant, has been trying to persuade European governments to support his bid.
www.boston.com /news/world/europe/articles/2006/03/06/lakshmi_mittal_may_cut_mittal_stake_report   (259 words)

  
 Mittal aims to ease misgivings about bid - Boston.com
Steel magnate Lakshmi Mittal went on a charm offensive Monday to calm misgivings over his 18.6 billion euro ($22.5 billion) unsolicited offer for Arcelor SA -- as the smaller steelmaker went on the attack.
Mittal Steel Co. Chairman and CEO Lakshmi Mittal, right, listens to President and Group CFO his son Aditya Mittal as they face reporters during a press conference held in Paris, Monday Jan. 30, 2006.
Mittal Steel's predominantly stock offer is well-timed to cash in on a surge in steel prices, which rose to historic highs last year, according to Olivier Riollot of Natexis Banques Populaires.
www.boston.com /business/articles/2006/01/30/mittal_tries_to_ease_arcelor_bid_concerns/?page=full   (1048 words)

  
 Mittal Steel Executive Finds Support for a Takeover Bid - New York Times   (Site not responding. Last check: 2007-10-27)
Lakshmi Mittal, foreground, is Mittal Steel's chief; his son, Aditya Mittal, left, is its chief financial officer.
Mittal's case, Arcelor board members and critics have noted that his steel empire is 88 percent owned by the family, not the transparent structure ideal for good corporate governance.
Mittal's 30-year-old son, Aditya Mittal, is the chief financial officer of the group and his sister is a member of the board.
www.nytimes.com /2006/02/21/business/worldbusiness/21steel.html?ex=1298178000&en=6a22ae5f7ed29f93&ei=5088&partner=rssnyt&emc=rss   (865 words)

  
 Personalities in India - Personalities abroad -Lakshmi Mittal
Steel tycoon Lakshmi Mittal, the 56 year old non resident Indian living in Britain, rose into focus this year when he was named the third richest person in the world (net worth $25-billion in 2005) by the Forbes Magazine after Microsoft chief Bill Gates and US investment guru Warren Buffett.
Lakshmi Narayan Mittal alias Lakshmi Niwas Mittal was born on June 15th, 1950, in Sadulpur, a village which didn't have electricity until 1960's, in Rajasthan, India.
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, becoming the world's most global steel producer with a net worth of over $22 billion.
www.webindia123.com /personal/abroad/mittal.htm   (1003 words)

  
 OpinionJournal - Featured Article
Mittal as "an Indian predator," although his company is traded and based in Europe and he hasn't lived in India for 30 years.
Mittal was born in a small village in the Indian desert state of Rajasthan, which he suggests may explain his dry character: "My roots are there." His father moved the family to Calcutta, ran a mining concern, and took him on at 16.
Mittal was the first company to take a major stake in a Chinese steel mill, but he suggests further investment can only come once Beijing agrees to open the sector and let marginal producers fail.
www.opinionjournal.com /editorial/feature.html?id=110007923   (1963 words)

  
 Lakshmi Mittal CEO of steel group Ispat International
Mittal remains the majority owner of all operations – although a minority interest in Ispat International was sold to the public in 1997 in an offering that generated heavy interest in both the New York and Amsterdam markets – something almost unheard of in the normally sleepy steel industry.
Mittal was one of the first to spot this trend – a good decade ahead of his competitors.
Mittal’s own marketing men have come up with a slogan dubbing the conglomerate as the steelmaker of the next millennium – hype with which its difficult to take issue given their track record.
www.jeremyjosephs.com /mittal.htm   (2560 words)

  
 Redhotcurry - Money. Lakshmi Mittal's Ring of Steel
The Mittals admit Ispat International does not have the financial capability to be a vehicle for growth at present, but that has not slowed growth in LNM as a whole.
This was Mittal's entry to the steelmaking high table - in 2000, he was invited to speak as a guest at the American Iron and Steel Institute's annual congress - but it became a rare blot on his record of turnarounds.
Meanwhile, Aditya Mittal's elevation to the position of crown prince a couple of years ago is believed to have led to the departure of Sittard, one of the key figures in securing the Karaganda acquisition.
www.redhotcurry.com /archive/money/2004/lakshmi_mittal.htm   (3546 words)

  
 Lakshmi Mittal
International steel magnate Lakshmi Mittal was ranked in 2005 by Forbes as the third-richest man in the world, with a net worth of $25 billion.
Having been brought up with the family business, in the 1970s Mittal struck out on his own and built a steel empire through large-scale buyouts and ruthless efficiency.
Mittal Steel Company is now the world's largest producer.
www.nndb.com /people/222/000094937   (80 words)

  
 Lakshmi Mittal Says Steel Producers Now Have the Opportunity to Create an Attractive and Sustainable Industry in the ...
Mittal said he is now less concerned that the Chinese industry remains a threat having witnessed the Chinese government's stringent control regarding capacity increase.
Mittal said good progress had been made towards consolidation, particularly in North America and Europe where approximately 60% of the market is now produced by the top five companies.
Mittal said that whilst consolidation would be key to building a sustainable model for the steel industry, it alone would not resolve the historical problems.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-21-2005/0003928394&EDATE=   (1056 words)

  
 The Hindu : Sport : Joshna first beneficiary of Lakshmi Mittal's initiative
The 54-year-old Mittal's ambition is to assist young, talented and ambitious sportspersons win medals at the 2012 Summer Olympiad in his home town of London or even before that at the New Delhi Commonwealth Games in 2010, the Olympic Games at Beijing in 2008 and also major international events.
Mittal said, "I went to Athens to see the Olympics last year and was excited by the performances, but was disappointed to see India languishing at the bottom.
Mittal at the All England Tennis Club last June as a result of which the trust modalities were completed with a catch phrase, "India's first trust dedicated to win medals and prestige for Indian sport".
www.hindu.com /2005/11/09/stories/2005110900671900.htm   (463 words)

  
 Arcelor-Mittal names Arcelor vice-president Roland Junck as CEO   (Site not responding. Last check: 2007-10-27)
Mittal, 55, will be president of the new company and will eventually succeed Arcelor chairman Joseph Kinsch, 73, as chairman of Arcelor-Mittal.
Aditya Mittal, Lakshmi Mittal's son, has been chief financial officer at Mittal Steel Co. NV since it was formed in 2004.
Lakshmi Mittal described Dolle as one of the great CEOs in the steel industry but made it clear that he would not be part of the new company.
www.cbc.ca /cp/business/060804/b080478.html   (694 words)

  
 Aljazeera.Net - Mittal Steel raises Arcelor bid   (Site not responding. Last check: 2007-10-27)
Dutch-registered Mittal, 87%-owned by the family of Lakshmi Mittal, the world's fifth-richest man according to Forbes magazine, is aiming to create a 100-million-tonne producer, more than three times the size of its closest rival.
Mittal Steel said in a statement that it was now offering a choice between one new share and 11.10 euros in cash for each Arcelor share, 17 Mittal Steel shares for every 12 Arcelor shares, or 37.74 euros in cash for each Arcelor share.
Mittal Steel said the maximum amount of cash it was offering was now 7.6 billion euros, up 57% from its previous bid.
english.aljazeera.net /NR/exeres/A36FCE5B-E8AE-48D0-92C7-090E8556ED5B.htm   (543 words)

  
 Lakshmi Mittal deserves a pat
Mittal has sent a clear signal to other sponsors that there is more to helping sportspersons than mere mileage in the media.
Apart from the members of Mittal's family, the managers of the trust are accomplished sportsmen, whose passion for promotion is unquestioned.
Mittal himself mentioned the discovery of a star in Mahendra Singh Dhoni from Jharkand.
www.tssonnet.com /tss2847/stories/20051119007400600.htm   (705 words)

  
 Lakshmi Mittal appointed chief executive of Arcelor Mittal : Business
Lakshmi Mittal appointed chief executive of Arcelor Mittal
Mittal Steel, which acquired Luxembourg's Arcelor for 22 billion euros after an acrimonious war of words, had said it would retain an Arcelor man as chief executive following the merger to placate political leaders, who were opposed to the merger.
Aditya Mittal, chief financial officer of the company, said in a statement the anticipated low seasonal volume was offset by a strong rise in steel prices.
www.earthtimes.org /articles/show/10195.html   (435 words)

  
 Bloomberg.com: Germany
Aditya Mittal, Lakshmi's 30-year-old son, is the company's chief financial officer.
Lakshmi Mittal, named after the Hindu goddess of wealth, was born in June 1950 in the desert state of Rajasthan.
Mittal turned around the ailing plant, which produced 4.2 million tons of steel in 2004, by settling unpaid wages, investing in new technology and boosting exports to neighboring China.
www.bloomberg.com /apps/news?pid=10000100&sid=aiAhPuXCo2co   (1041 words)

  
 vrtnieuws.net - Mittal sets out his plans for Belgium   (Site not responding. Last check: 2007-10-27)
Lakshmi Mittal came to explain further his vision for the future of what would be an industry giant, accounting for about 10% of the world's total steel output, to the Belgian Federal, Flemish and Walloon Prime Ministers.
A future meeting with Mittal Steel is scheduled either for the end of the month or the beginning of April, after which the Belgian government will determine its position.
Mittal Steel began its19 billion euro hostile take-over bid for Arcelor at the beginning of the year.
www.vrtnieuws.net /nieuwsnet_master/versie2/english/details/060308_mittal/index.shtml   (340 words)

  
 Lakshmi Mittal is world's 3rd-richest man
Indian-born steel tycoon Lakshmi Mittal became the third richest person in the world, trailing only Microsoft chief Bill Gates and US investment guru Warren Buffett.
Mittal climbed 59 steps from last year to number three in 2005.
The third-richest person in the world, steel baron Lakshmi Mittal, is this year's biggest gainer in dollars, adding $18.8 billion to his net worth.
www.rediff.com /money/2005/mar/11mittal.htm   (744 words)

  
 The Hindu : Business : Lakshmi Mittal has mega plans for India
Mittal said here on Friday that a working group had been set up to examine the feasibility of setting up either a single 12-million-tonne steel plant in one of the two States or a project in both States.
Mittal, who arrived in the country fresh from the successful takeover of Arcelor Steel and making it the world's largest steel company, told the media that acquisitions in India could not be ruled out.
Mittal Steel and the Oil and Natural Gas Corporation (ONGC) have plans for investing up to $5 billion in Nigeria in case oil is found in the exploration block for which an agreement has just been signed.
www.hindu.com /2006/07/08/stories/2006070807761500.htm   (1056 words)

  
 Lakshmi Mittal Biography
Mittal has grown the family business into one of the largest steel companies in the world, with steel making facilities in fourteen countries and employing more than 150,000 people.
Lakshmi Mittal saw his estimated wealth increase by $US18.8 billion in 12 months, due to surging steel prices and when he merged his Ispat International with Ohio-based International Steel Group.
Mittal reportedly paid $US100+ million for a twelve bedroom residence in Kensington Palace Gardens, London.
www.woopidoo.com /biography/lakshmi-mittal/index.htm   (293 words)

  
 SignOnSanDiego.com > News > Business -- Steelmaker Mittal launches $22.8 billion hostile bid for rival Arcelor
Mittal said it would sell the Canadian company to Germany's ThyssenKrupp AG – which had been a rival bidder for Dofasco – if it is successful in taking control of Arcelor.
Despite Mittal's assertions that Arcelor shared his vision for more industry consolidation – and that there would be a place for Arcelor executives in the combined company – the Luxembourg-based steelmaker did not express enthusiasm with the bid.
Mittal, who expects the deal would give the combined company a market capitalization of $40 billion and annual synergies of $1 billion, said he had no intention of raising the offer, but declined to categorically rule it out.
www.signonsandiego.com /news/business/20060127-1104-britain-mittal-arcelor.html   (1011 words)

  
 Who is the Man Who Bought Sparrows Point?
Lakshmi formed two companies, Ispat and LNM Holdings, to assume ownership of the foreign steel mills, while his younger brothers, Pramod K. Mittal and V.K. Mittal, took over the steel operations in India that were started by their father.
Lakshmi is chairman and CEO of the company; his 29-year-old son, Aditya, is president and chief financial officer; and Vanisha, who did post-graduate work at London’s School of Oriental and African Studies before her marriage, now sits with her father and brother on the Mittal board of directors.
In Kazakhstan, controversy over Mittal’s business practices centers on safety and wages rather than steel prices (impoverished Kazakhstan consumes little steel itself; nearly all of the steel it makes is exported to China.) Safety came to a head after 23 miners died last Dec. 5 in a coal mine operated by a Mittal subsidiary.
www.makingsteel.com /whoishe.html   (3512 words)

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