ASSIGNMENT
On
“LAKSHMI NIWAS MITTAL”
Submitted to: Submitted by:
Mr. Kamal Jalwani Tripti Rajput
Richa Mishra
Lakshmi Nivas Mittal
Lakshmi Narayan mittal was born on June 15, 1950. He is born in
Sadulpur that is in Churu district of Rajasthan. But he is residing in
Kensington, London. He is London based Indian billionair
industrialist. He is presently the CEO & Chairman of Arcelor Mittal.
Lakshmi Nivas Mittal was listed in the Forbes List of Billionaires in
2006 as the the richest Indian and the fifth richest man in the world
with an estimated wealth around of $25.0 billion and is the richest man in the
United Kingdom. He is the fifth richest person in the world. Although Mittal Steel
was already the world's biggest steel company, his king-sized ambitions were
evident when he took over steel giant Arcelor to create a new steel behemoth --
Arcelor-Mittal. He gives employment to almost 1,50,000 people. He is the CEO of
Arcelor Mittal. It is world’s largest steel company. Arcelor Mittal seems likely to
become the world's first $100 billion market-cap steel company.
Young Lakshmi Nivas Mittal spent his first years in Sadulpur, before his father
moved to Kolkata. Lakshmi graduated from St. Xavier's College, Calcutta. He
founded Mittal Steel in 1976, which soon became a global steel producer with
operations on 14 countries. Mittal involves in his family business. His father
establishes his family business & he has grown it. It is one of the largest steel
companies of the world. His success mantra lies in the identification, acquisition
and turnaround of many loss making steel companies all across the world.
In 1994, he took over the international operations of his family's steel business.
Arcelor Mittal is presently the world's largest producer of low and mid-grade
steels, with operations in Romania, Bosnia-Herzegovina, South Africa, Poland,
Czech Republic, Indonesia, Kazakhstan and many other countries.
L N Mittal left India in the mid-1970s to start his career. He was sent to Indonesia
by his father to shut down the family's ailing steel plant and sell the land. Instead,
young Mittal saw an opportunity and turned the plant around. To prove that this
was no fluke, Mittal acquired a 1.3 million tonne, Iscot Steel plant in Trinidad &
Tobago, which was losing $100,000 a day. One year of Mittal-style management
and it was making profits, the LN Mittal legend was born. That move helped him
get into America. The Mexican government seeing the success that Mittal made of
Iscot, asked him to take over their ailing steel plants in 1992. But it was not all that
smooth. In 1994 Mittal had differences with his brothers and father, and went on to
form his own company. The following year Mittal entered the European market,
acquiring the 5 million tonne Kazakh steel plant, Karmet.
Meanwhile, Mittal had listed Ispat International on the New York and Amsterdam
Stock Exchanges in 1997. Eight years later Mittal Steel became the world's largest
steel maker when he took over the US's largest steel producer -- the International
Steel Group. He then consolidated all his steel holdings into Mittal Steel.
According to the Forbes business magazine, Lakshmi Nivas Mittal saw his
estimated wealth increase by $US18.8 billion in 12 months. He is the richest
person, beyond this he has a lot of qualities. He is very humble by nature & Cary
for everyone. His major quality is that he gives a lot of charity to poor children &
to poor people.
His son Aditya is the CFO(Chief Financial Officer) of Arcelor Mittal. Mr. Mittal
has been nominated as a member of the Foreign Investment Council in
Kazakhstan, the International Investment Council in South Africa, the World
Economic Forum's International Business Council, besides being a Director of
ICICI Bank Limited and being on the Advisory Board of the Kellogg School of
Management in the United States.
Mittal earned a base salary of USD 1.65 million in 2010, compared to USD 1.49
million in the previous year, according to ArcelorMittal''s annual report.
According to the report, the total compensation paid in 2010 to members of the
company''s senior management, including L N Mittal in his capacity as CEO, was
USD 17.8 million in base salary, including certain allowances paid in cash, such as
allowances relating to car, petrol, lunch, financial services and balance settlements.
Current Market Price:
Our price estimate for Arcelor Mittal stands at $40.67, roughly 11% above the
current market price.
Top Arcelor Mittal Competitors
Companies Location
JFE Holdings, Inc. Tokyo, Japan
Tata Steel Limited Mumbai, India
United States Steel Corporation Pittsburgh, PA
Competitor on file Shanghai, China
Competitor on file Melbourne, Australia
Competitor on file Kaohsiung, Taiwan
Competitor on file Mumbai, India
Competitor on file Luxembourg, Luxembourg
Competitor on file Porto Alegre, Rio Grande do Sul
Competitor on file Moscow, Russia
Competitor on file Tokyo, Japan
Competitor on file Charlotte, NC
Industries Where Arcelor Mittal Competes
Steel Production
Metals & Mining
