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    Lakshmi Niwas Mittal (1)

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    Lakshmi Niwas Mittal (1)

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    3 views12 pages

    Lakshmi Niwas Mittal (1)

    Uploaded by

    introvertedcat9

    Copyright:

    © All Rights Reserved
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    LAKSHMI NIWAS

    MITTAL
    A Steel Tycoon
    "Everyone experiences tough
    times, it is a measure of your
    determination and dedication how
    you deal with them and how you
    can come through them"
    -Lakshmi Mittal
    BIOGRAPHY OF
    LAKSHMI NIWAS
    Lakshmi Niwas Mittal is an Indian-born
    steel magnet who is currently in the UK.
    He is known as the king of steel. He is the
    chairman and CEO of Arcelor Mittal, the
    world's largest manufacturer of steel. He
    was born on 15th June 1950 at Sadulpur
    town in Rajasthan state. He is also the co-
    owner of the Queens Park Rangers F.C.
    with 34% stake in the professional football
    Lakshmi's father, Mohanlal Mittal
    ran a steel business- Nippon Denro
    Ispat. But due to the curb of steel
    production by Indian Government,
    the 26 year old Mittal opened his
    first steel factory PT Ispat Indo in
    Indonesia.
    In 1989, Mittal
    purchased the state
    owned steel works
    in Trinidad and
    Tobago, which had
    been losing huge
    sum of money. A
    year later, the
    output had doubled
    and had became
    profitable. He used
    similar formula for
    success in a series
    of acquisitions all
    around the world.
    Since the demand for steel
    remained high, smaller steel
    companies were unable to crack
    competitive deals. As a result,
    Mittal's company controlled 40
    per cent of the American market
    which allowed the giant steel
    makers to negotiate more
    favourable prices.
    In 2004, Mittal merged his companies,
    Ispat International and LNM holdings
    and acquired Ohio based International
    steel group.
    The newly created company, Mittal
    Steel Company, emerged from the
    deal as the world's largest steel
    maker.
    Two years later, Mittal oversaw
    another merger when Mittal steel
    joined Arcelor to form Arcelor Mittal
    However, in 2015, in a sign of
    severe distress in global steel
    making, Arcelor Mittal said that
    it lost nearly $8 Billion and it
    planned to seek $3 billion in
    new capital from its
    shareholders to shore up its
    finances.
    Owing to the industry downturn
    that wreaked havoc on steel
    makers around the world, a
    rebound in prices of the metal
    has boosted companies
    including Tata steel of India and
    In February 2017, Arcelor Mittal
    announced plans to combine
    their steel operations. It was
    ranked 123 in the 2017 Fortune
    Global Rankings. This shows the
    dedication and the correct
    business philosophy of Lakshmi
    Niwas Mittal that has helped the
    business to rise.
    SOCIAL WORK

    ⚕ 🏀 📚
    In 2003, Lakshmi
    mittal and the
    government of
    MEDICAL SPORTS EDUCATION
    Rajasthan
    Mittal decided to set parterned to
    In 2008, the
    up the ' establish the
    Mittals donated
    Mittal Champions Trus LNM Institute of
    £15 million to t Information
    Great Ormond ' with $9 million to Technology.
    Street Hospital. support ten Indian
    athletes with world-
    beating potential.
    ACHIEVMENTS
    NAME OF AWARD OR HONOUR YEAR AWARDING ORGANISATION

    Steel Maker of the Year 1996 New Steel

    Entrepreneur of the Year 2004 The Wall Street Journal

    European Businessman of the Year 2004 Forbes

    Bessemer Gold Medal 2007 IOM3

    Fellowship 2007 King's College London

    Forbes Lifetime Achievment Award 2008 Forbes

    Padma Vibhushan 2008 Government of India


    THANK YOU

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