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Mittal Steel Company N.V.
Naamloze Vennootschap

is the Dutch language term for a public limited liability corporation. The company is owned by shareholders, and the company's shares are not registered to certain owners, so that they may be traded on the public stock market....
 () was the world's largest steel
Steel

Steel is an alloy consisting mostly of iron, with a carbon content between 0.2% and 2.14% by weight , depending on grade. Carbon is the most cost-effective alloying material for iron, but various other alloying elements are used such as manganese, chromium, vanadium, and tungsten....
 producer by volume, and also the largest in turnover. The company is now part of ArcelorMittal.

CEO Lakshmi Mittal
Lakshmi Mittal

Lakshmi Mittal, or Lakshmi Niwas Mittal , is an Indian industrialist based in the United Kingdom. He was born in Sadulpur village, in the Churu district of Rajasthan, India, and he resides in Kensington, London....
's family owned 88% of the company. Mittal Steel was based in Rotterdam
Rotterdam

Rotterdam ; city and municipality in the Netherlands province of South Holland, situated in the west of the Netherlands. The municipality is the List of cities in the Netherlands with over 100,000 people in the country, with a population of 584,046 on 1 January 2007 and comprises the southern part of the Randstad, the List of metropolitan are...
 but, managed from London
London

London is the capital of both England and the United Kingdom, and the most populous municipality in the European Union. An important settlement for two millennia, History of London goes back to its founding by the Roman Empire....
 by Mittal and his son Aditya
Aditya Mittal

Aditya Mittal is a member of the Board of Directors and President and Chief Financial Officer of the world's largest steel firm Arcelor Mittal, which is controlled by his father Lakshmi Mittal, who was ranked the List of billionaires by Forbes in 2008....
. It was formed when Ispat International
Ispat International

Ispat International N.V. is a steel producing company with operations in Mexico, Trinidad and Tobago, Canada, Germany, United states. The company is specialized in the integrated mini-mill process and has a wide range of flat & long steel products, including slabs & wire rods....
 N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group
International Steel Group

International Steel Group was a steel company headquartered in Cleveland, Ohio. In 2004 it was ranked #426 on the Fortune 500. It was created after the turn around fund, Wilbur Ross , purchased LTV Integrated Steel Assets in February 2002....
 Inc.






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Mittal Steel Company N.V.
Naamloze Vennootschap

is the Dutch language term for a public limited liability corporation. The company is owned by shareholders, and the company's shares are not registered to certain owners, so that they may be traded on the public stock market....
 () was the world's largest steel
Steel

Steel is an alloy consisting mostly of iron, with a carbon content between 0.2% and 2.14% by weight , depending on grade. Carbon is the most cost-effective alloying material for iron, but various other alloying elements are used such as manganese, chromium, vanadium, and tungsten....
 producer by volume, and also the largest in turnover. The company is now part of ArcelorMittal.

CEO Lakshmi Mittal
Lakshmi Mittal

Lakshmi Mittal, or Lakshmi Niwas Mittal , is an Indian industrialist based in the United Kingdom. He was born in Sadulpur village, in the Churu district of Rajasthan, India, and he resides in Kensington, London....
's family owned 88% of the company. Mittal Steel was based in Rotterdam
Rotterdam

Rotterdam ; city and municipality in the Netherlands province of South Holland, situated in the west of the Netherlands. The municipality is the List of cities in the Netherlands with over 100,000 people in the country, with a population of 584,046 on 1 January 2007 and comprises the southern part of the Randstad, the List of metropolitan are...
 but, managed from London
London

London is the capital of both England and the United Kingdom, and the most populous municipality in the European Union. An important settlement for two millennia, History of London goes back to its founding by the Roman Empire....
 by Mittal and his son Aditya
Aditya Mittal

Aditya Mittal is a member of the Board of Directors and President and Chief Financial Officer of the world's largest steel firm Arcelor Mittal, which is controlled by his father Lakshmi Mittal, who was ranked the List of billionaires by Forbes in 2008....
. It was formed when Ispat International
Ispat International

Ispat International N.V. is a steel producing company with operations in Mexico, Trinidad and Tobago, Canada, Germany, United states. The company is specialized in the integrated mini-mill process and has a wide range of flat & long steel products, including slabs & wire rods....
 N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group
International Steel Group

International Steel Group was a steel company headquartered in Cleveland, Ohio. In 2004 it was ranked #426 on the Fortune 500. It was created after the turn around fund, Wilbur Ross , purchased LTV Integrated Steel Assets in February 2002....
 Inc. (the remnants of Bethlehem Steel
Bethlehem Steel

The Bethlehem Steel Corporation , based in Bethlehem, Pennsylvania, was once the second-largest steel producer in the United States, after Pittsburgh, Pennsylvania-based U.S....
, Republic Steel
Republic Steel

Republic Steel was once the third largest steel producer in the United States.The Republic Iron and Steel Company was founded in Youngstown, Ohio, in 1899....
 and LTV Steel) in 2004. On 25 June 2006, Mittal Steel decided to merge with Arcelor
Arcelor

Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of ?30.2 billion and shipments of 45 million metric tons of steel in 2004....
, with the new company to be called Arcelor Mittal. The merger has been successfully approved by shareholders and directors of Arcelor making L.N. Mittal the largest steel maker in the world.

History

  • 1989: Acquisition of Iron & Steel Company of Trinidad & Tobago
  • 1992: Acquisition of Sibalsa
  • 1994: Acquisition of Sidbec-Dosco
  • 1995: Acquisitions of Hamburger Stahlwerke, which formed Ispat International Ltd. and Ispat Shipping, and Karmet
  • 1997: Acquisitions of Walzdraht Hochfeld GmbH and Stahlwerk Ruhrort
  • 1997: Ispat International NV goes public
  • 1998: Acquisition of Inland Steel Company
    Inland Steel Company

    The Inland Steel Company was a U.S. steel company active in 1893-1998. Its history as an independent firm thus spanned much of the 20th century....
  • 1999: Acquisition of Unimétal
  • 2001: Acquisitions of ALFASID and Sidex
  • 2002: Business assistance agreement signed with Iscor
  • 2003: Acquisition of Nowa Huta
  • 2004: Acquisitions of Polskie Huty Stali, BH Steel, Macedonian facilities from Balkan Steel. Creation of Mittal Steel
  • 2005: Hire Deloitte as the primary auditors for the company
  • 2005: Acquisition of International Steel Group
    International Steel Group

    International Steel Group was a steel company headquartered in Cleveland, Ohio. In 2004 it was ranked #426 on the Fortune 500. It was created after the turn around fund, Wilbur Ross , purchased LTV Integrated Steel Assets in February 2002....
  • 2005: Acquisition of Kryvorizhstal
    Kryvorizhstal

    Kryvorizhstal is a large integrated steel industry company located in the Ukraine city of Kryvyi Rih. Bought in 2005 by Mittal Steel, the company is one of the most important businesses in Ukraine and a globally-important steel producer....
  • 2005: Investment of $9 billion in Jharkhand
    Jharkhand

    Jharkhand is a States and territories of India in eastern India. It was carved out of the southern part of Bihar state on 15 November 2000. Jharkhand shares its border with the states of Bihar to the north, Uttar Pradesh and Chhattisgarh to the west, Orissa to the south, and West Bengal to the east....
    , India
    India

    India, officially the Republic of India , is a country in South Asia. It is the List of countries and outlying territories by total area country by geographical area, the List of countries by population country, and the most populous liberal democracy in the world....
     announced
  • 2006: Merger with Arcelor
    Arcelor

    Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of ?30.2 billion and shipments of 45 million metric tons of steel in 2004....
     announced and completed after much controversy
  • 2006: Investment for 12 million tonnes capacity steel plant announced in Orissa
    Orissa

    Orissa , is a states and territories of India located on the east coast of India, by the Bay of Bengal. It was established on 1 April 1936 as a province in British India, and consists, predominantly of Oriya language speakers....
    , India
    India

    India, officially the Republic of India , is a country in South Asia. It is the List of countries and outlying territories by total area country by geographical area, the List of countries by population country, and the most populous liberal democracy in the world....


Bids and acquisitions

In October 2005 Mittal Steel acquired Ukrainian
Ukraine

Ukraine is a country in Eastern Europe. It is bordered by Russia to the east; Belarus to the north; Poland, Slovakia, and Hungary to the west; Romania and Moldova to the southwest; and the Black Sea and Sea of Azov to the south....
 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
Leonid Kuchma

Leonid Danylovych Kuchma was the second President of Ukraine of Ukraine from July 19, 1994, to January 23, 2005. The last five years of his presidency were mired in controversy when tape recordings of him seemingly discussing the possible murder of journalist Georgiy R....
 was cancelled by the incoming government of President Viktor Yushchenko
Viktor Yushchenko

Viktor Andriyovych Yushchenko is the third and current President of Ukraine. He took office on January 23, 2005.As an informal leader of the Our Ukraine, he was one of the two main candidates in the October–November 2004 Ukrainian presidential election, 2004....
.

In 2005 Lakshmi Mittal flew into Jharkhand, India to announce a $9 billion investment to build a greenfield steel plant with a 12 million tonnes per annum production capacity.

On 27 January 2006 it announced a $23.3 billion (€
Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
18.6 billion, £12.7 billion) bid for Arcelor. On 19 May 2006 Mittal increased its offer for Arcelor by 38.7% to $32.4bn, or $47.34 per share (€25.8bn, €37.74 per share). On 25 June 2006 Arcelor, in a board meeting announced that it has accepted a further sweetened offer ($50.68 or €40.4 per share) and the new company would now be called ArcelorMittal, thus successfully ending one of the most controversial and publicised takeover bids in modern corporate history. ArcelorMittal is now by far the largest steelmaker in the world by turnover as well as volume, controlling 10% of the total world steel output.

See also

  • List of steel producers
    List of steel producers

    This article summarizes the world steel production by company. For the country-oriented account, see Steel production by country....
  • Arcelor Mittal
  • Arcelor
    Arcelor

    Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of ?30.2 billion and shipments of 45 million metric tons of steel in 2004....
  • Nowa Huta
    Nowa Huta

    Nowa Huta - is the easternmost district of Krak?w, Poland, . With more than 200,000 inhabitants it is one of the most populous areas of the city....