Case Studes in Entrepreneurship, Family Businesses, Social Entrepreneurship

Code : ENT0016B

Year :2006

Industry : Minerals, Metals and Mining

Region : USA

Teaching Note:Not Available

Structured Assignment :Not Available

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Introduction: On 22nd June, 2006, Mittal Steel acquired Arcelor4- the biggest steel manufacturing unit in Europe and world’s second largest5 producer of steel. This was the biggest ever merger which had taken place in the steel industry which made Laxmi Niwas Mittal’s Mittal Steel the largest steel producing company in the world.
In his sixteen year rise from obscurity to opulence, Mittal had multiplied his steel holdings by 1388 times. He was known mostly for his collection of steel mills in countries such as Trinidad & Tobago, Kazakhstan, and Mexico. He started from scratch in 1989 and by the year 2006, was the biggest steelmaker on the globe and held a dominant position, employing 224,000 people9 spanning 49 different nationalities.
Mittal came a long way from being a fringe player in the steel industry in 1976 to become a baron by 2006.11 Subsequently he earned several sobriquets such as “Rajah of Steel”, “Carnegie from Calcutta”

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