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Biography - Lakshmi Nivas Mittal

y Indian born British steel tycoony Born on June 15th 1950 in Rajasthany Family moved to Kolkata from Rajasthany His father Mohanlal Mittal set up a small steel mill in Kolkata.y Finished his bachelors degree in business and accounting Mittal began his early career in his

fathers steel firm in the early 70s

y In 1976 Mittal moved to Indonesia and acquired a steel plant ISPAT INDO.y His success has largely been built on buying up loss making steel owned mills and quickly turning

them around.

y His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha aremembers of the board of directors of Mittal steel.

y Mittal Group got into steel industry in 1976 when M L Mittal left country because of Indiasrestrictive economic policies. He went to Indonesia to set up ISPAT INDO.

y Group started spreading its activities across the globe in 1989 when it acquired an ailing plant inTrinidad and Tobago which was revived

y 1994 group underwent partition of business interest in the family. All the foreign business werehived 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

Current Status

y Worlds largest and most global steel company with shipment of 49.2 million tones and revenueof over $28.1 billion in 2005 and net income of $3.4 billion

y No. 1 high quality steel producer with crude steel capacity with more than 70 million tons perannum

y Own steel making facilities in 16 countries spanning 4 continentsy Employs 224000 people spanning 49 different nationalities

Awards

y Mittal was awarded Fortune magazines European Businessman of the Year 2004y Previously, he was awarded Steelmaker of the Yearin 1996 by New Steel in the USA

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y The Willy Korf Steel Vision Awardin June 1998y In March 2005, Forbes named him the third richest man in the world and the richest non-

American, with a wealth of $25 billion.

y L N Mittal is a member ofy The Foreign Investment Council in Kazakhstan,y The International Investment Council in South Africa,y The World Economic Forums International Business Council andy The International Iron and Steel Institutes Executive Committee.

y L N Mittal is on the advisory board of the Kellogg School Of Management in the USy The steel industry has always been fragmented. The steel industry needs to be consolidated,''

Mittal said in a television interview on CNN.

y Steelmakers across Asia are putting defensive measures in place to prevent being swallowed byArcelor Mittal. Mittal is combining with Luxembourg-based Arcelor SA in a $38.3 billion

transaction to create a company pouring a 10th of the world's steel.

y ``We are focusing on India and China,'' Mittal said July 7 in Bhubaneswar, India. ``India is a veryimportant milestone for us to remain the biggest company in the global steel industry.''

LEADERSHIP STYLE

A transactional leader:

Mittal is a transactional leader who guides and motivates his followers in the direction of established

goals by clarifying role and task requirements.

The Leader in Mittal-

y A great individualy A corporate leader in businessy Started the trend of mergers around the worldy A caring family many A complete human beingy This is not about creating a giant .its about creating the sustainability of the steel industry..y -Lakshmi Niwas Mittal

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