Lakshmi Nivas Mittal

“Always think outside the box and increase the opportunities that appear, wherever they might be”

Why Lakshmi Nivas Mittal ?

Biography - Lakshmi Nivas MittalBiography - Lakshmi Nivas Mittal

Indian born British steel tycoonIndian born British steel tycoon

Born on September 5Born on September 5thth 1950 in Rajasthan 1950 in Rajasthan

Family moved to Kolkata from RajasthanFamily moved to Kolkata from Rajasthan

His father Mohanlal Mittal set up a small His father Mohanlal Mittal set up a small

steel mill in Kolkata.steel mill in Kolkata.

Finished his bachelors degree in business Finished his bachelors degree in business

and accounting. Mittal began his early and accounting. Mittal began his early

career in his fathers steel firm in the early career in his fathers steel firm in the early

70s.70s.

In 1976 Mittal moved to Indonesia and In 1976 Mittal moved to Indonesia and acquired a steel plant ISPAT INDO.acquired a steel plant ISPAT INDO.

His success has largely been built on His success has largely been built on buying up loss making steel owned mills buying up loss making steel owned mills and quickly turning them around.and quickly turning them around.

• His wife Usha runs the Indonesian business His wife Usha runs the Indonesian business and his son Aditya and daughter Vanisha are and his son Aditya and daughter Vanisha are members of the board of directors of Mittal members of the board of directors of Mittal steel.steel.

MITTAL STEEL

History of Mittal Steel

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

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

1994 group underwent partition of business 1994 group underwent partition of business

interest in the family. All the foreign business interest in the family. All the foreign business

were hived of into a separate group ISPAT were hived of into a separate group ISPAT

International under the control of L N Mittal International under the control of L N Mittal

while Indian operations remained with his while Indian operations remained with his

younger brothers P K Mittal and V K Mittal younger brothers P K Mittal and V K Mittal

AcquisitionsAcquisitions

Current Status

World’s largest and most global steel company with World’s largest and most global steel company with

shipment of 49.2 million tones and revenue of over shipment of 49.2 million tones and revenue of over

$28.1 billion in 2005 and net income of $3.4 billion$28.1 billion in 2005 and net income of $3.4 billion

No. 1 high quality steel producer with crude steel No. 1 high quality steel producer with crude steel

capacity with more than 70 million tons per annumcapacity with more than 70 million tons per annum

Own steel making facilities in 16 countries spanning 4 Own steel making facilities in 16 countries spanning 4

continentscontinents

Employs 224000 people spanning 49 different Employs 224000 people spanning 49 different

nationalitiesnationalities

Qualities and DistinctivenessHard workingOutstanding visionConvincing, Motivating and guidingZeal and fiercenessCapacity to leadBravery

AwardsMittal was awarded Fortune magazines Mittal was awarded Fortune magazines

“European Businessman of the Year “European Businessman of the Year 2004”2004”

Previously, he was awarded Previously, he was awarded “Steelmaker “Steelmaker of the Year”of the Year” in 1996 by New Steel in the in 1996 by New Steel in the USA USA

The The “Willy Korf Steel Vision Award”“Willy Korf Steel Vision Award” in in June 1998 June 1998

In March 2005, Forbes named him the In March 2005, Forbes named him the third richest man in the world and the third richest man in the world and the richest non-American, with a wealth of richest non-American, with a wealth of $25 billion. $25 billion.

L N Mittal is a member of L N Mittal is a member of • The Foreign Investment Council in The Foreign Investment Council in

Kazakhstan, Kazakhstan, • The International Investment Council in The International Investment Council in

South Africa,South Africa,• The World Economic Forum’s The World Economic Forum’s

International Business Council and International Business Council and • The International Iron and Steel The International Iron and Steel

Institute’s Executive Committee.Institute’s Executive Committee.

L N Mittal is on the advisory board of the L N Mittal is on the advisory board of the Kellogg School Of Management in the US Kellogg School Of Management in the US

Mittal Steel believes that businesses should play a major role in supporting the communities in which they operate.

Operations by Mittal Steel in the sense of social responsibility kind of support to:

Kazakhstan

South Africa

USA

Algeria

India

CORPORATE SOCIAL RESPONSIBILITY

EducationEducation

• Mittal Steel in South Africa has donated over Mittal Steel in South Africa has donated over $177mn to community development projects.$177mn to community development projects.

• Company’s latest project to sponsor South Africa Company’s latest project to sponsor South Africa national science Olympiads.national science Olympiads.

• Mittal Steel sponsorship is valued at $1.5mn.Mittal Steel sponsorship is valued at $1.5mn.

Health and SafetyHealth and Safety

• Robust set of safety standards to reduce Robust set of safety standards to reduce

accidents.accidents.

• Mittal Steel operates an E-Room.Mittal Steel operates an E-Room.

• Safe business is a good business.Safe business is a good business.

Sponsorship &support to football , basketball & Sponsorship &support to football , basketball & other sports.other sports.

Sporting beneficiaries are Czech Republic, Sporting beneficiaries are Czech Republic, Romania & Algeria.Romania & Algeria.

• Sporting link with west IndiesSporting link with west Indies

SportsSports

CommunityCommunity

Main provider of electricity.Main provider of electricity. Urban development project in Karaganda Mittal Steel in 1995.Urban development project in Karaganda Mittal Steel in 1995. Constructed modern facilities for the Karaganda Metallurgical Constructed modern facilities for the Karaganda Metallurgical

institute.institute. In Algeria the Company gave a $100,000 aid.In Algeria the Company gave a $100,000 aid. Was known for $242,000 Corporate contribution in 2005.Was known for $242,000 Corporate contribution in 2005.

Management & Employees equally moved by devastation when Management & Employees equally moved by devastation when hurricane Katrina inflicted.This raised more then $500,000 for hurricane Katrina inflicted.This raised more then $500,000 for red cross.red cross.

““The steel industry has always The steel industry has always been fragmented. The steel been fragmented. The steel industry needs to be industry needs to be consolidated,'' Mittal said in a consolidated,'' Mittal said in a television interview on CNN. television interview on CNN.

Steelmakers across Asia are Steelmakers across Asia are putting defensive measures in putting defensive measures in place to prevent being place to prevent being swallowed by Arcelor Mittal. swallowed by Arcelor Mittal. Mittal is combining with Mittal is combining with Luxembourg-based Arcelor SA Luxembourg-based Arcelor SA in a $38.3 billion transaction to in a $38.3 billion transaction to create a company pouring a create a company pouring a 10th of the world's steel. 10th of the world's steel.

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

LEADERSHIP STYLEA 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-The Leader in Mittal-A great individualA great individualA corporate leader A corporate leader

in businessin businessStarted the trend of Started the trend of

mergers around the mergers around the worldworld

A caring family manA caring family manA complete human A complete human

beingbeing

“ This is not about creating a giant ….its about creating the sustainability of the steel industry..”

-Lakshmi Niwas Mittal

Presentation by Glenn NishanthPallavi KeerthanaaPratik