Preview

Lakshmi Mittal and the Growth of Mittal Steel (Case Study)

Better Essays
Open Document
Open Document
994 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Lakshmi Mittal and the Growth of Mittal Steel (Case Study)
Lakshmi Mittal and the Growth of Mittal Steel (Case Study)

Since its inception, ArcelorMittal has rapidly grown through a successful consolidation strategy with a number of significant acquisitions. According to ArcelorMittal (2012), the company is the successor to Mittall Steel, a business originally set up in 1976 by Lakshmi N. Mittal, CEO and chairman of the board of directors (paras 1-2).

ArcelorMittal moved the company’s headquarters to Rotterdam in 1997 (Hill, 2011, p. 261). The company currently has 260,000 employees across 60 countries and is the world’s leading steel and mining company (ArcelorMittal, 2013, para 1).

In addition to the information above, a brief timeline of ArcelorMittal acquisitions may be reviewed below (Steelonthenet.com, 2013, para 2). The company has been quite successful.
• 1989: Acquired Iron & Steel Company of Trinidad & Tobago.
• 1992: Acquisition of Sibalsa in Mexico.
• 1994: Acquisition by Ispat of Sidbec-Dosco in Canada.
• 1995: Acquisition of Karmet Works in Kazakhstan.
• 1995: Acquisition of Hamburger Stahlwerke in Germany.
• 1997: Ispat International floats in NY & Amsterdam.
• 1997: Takeover of Thyssen Duisberg, Germany.
• 1998: Acquisition of Inland Steel Company, USA.
• 1999: Ispat purchase of Unimetal, France.
• 2001: Purchase of Sidex Galati in Romania.
• 2001: Purchase of Alfasid [renamed Mittal Steel Annaba] in Algeria.
• 2001: Equity partnership deal with Iscor, South Africa.
• 2003: Acquisition of Nova Hut in Ostrava, Czech Republic.
• 2004: Acquisition of Skopje plant from Balkan Steel, Macedonia.
• 2004: LNM Holdings & ISPAT International merged into Mittal Steel.
• 2005: Purchase of PHS - Polskie Huty Stali in Poland.
• 2005: Mittal Steel takeover of the International Steel Group, USA.
• 2005: Acquisition of Kryvorizhstal, Kryvyi Rih in Ukraine.
• 2005: Purchase of small stake in Hunan Valin, China.
• 2005: Iron ore mining agreement with government of Liberia.
• 2005: Unsuccessful


References: ArcelorMittal (2013). ArcelorMittal-transforming tomorrow. Our history. Retrieved on January 23, 2013 from http://www.arcelormittal.com/corp/who-we-are/our-history ArcelorMittal (2013). ArcelorMittal-who we are at a glance. Retrieved on January 23, 2013 from http://www.arcelormittal.com/corp/who-we-are/at-a-glance Hill, C. (2011). International Business: Competing in the Global Marketplace. McGraw-Hill/Irwin, New York. Steelonthenet.com (2013). History of ArcelorMittal. Retrieved on January 23, 2013 from http://www.steelonthenet.com/kb/history-arcelor-mittal.html
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Better Essays

    Kudler Fine Foods Root Cause Analysis
    • 865 Words
    • 4 Pages

    Kudler Fine Foods Root Cause Analysis

    The increase in bandwidth will ensure connectivity between the POS, severs, and databases. Several servers will be upgraded and built out. An application server must be built, it will house the application that will run the customer reward program. The app server will make calls to the database server and compile the information. A web server will be built to serve two purposes, house the Internet site and the internal intranet site. The Internet site will make calls to the app server and be the first thing that customers…

    • 865 Words
    • 4 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Dollar Tree and Dollar General: Horizontal and Vertical Analysis
    • 1829 Words
    • 8 Pages

    Dollar Tree and Dollar General: Horizontal and Vertical Analysis

    Dollar Tree, (2013). Dollar Tree Annual Financial Reports. Retrieved March 13, 2103 from www. dollartree.com…

    • 1829 Words
    • 8 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    CASE STUDY Y652L The Metalworks Corporation Case Study
    • 2678 Words
    • 11 Pages

    CASE STUDY Y652L The Metalworks Corporation Case Study

    MetalWorks was established in 1964 as a family venture and grew throughout the „70‟s and „80‟s at a fairly steady rate. Until…

    • 2678 Words
    • 11 Pages
    Powerful Essays
    Read More
  • Good Essays

    An Analysis Of Andrew Carnegie's Steel Companies
    • 189 Words
    • 1 Page

    An Analysis Of Andrew Carnegie's Steel Companies

    Andrew Carnegie believed in applying survival of the fittest to business, while J.P. Morgan established a community of interest among the larger corporations. (M.A.P.A.H.) Although their beliefs were different, the end goal was the same, to essentially battle over the monopoly of steel. In 1890, Carnegie dominated the steel industry, this troubled Morgan, so he bought Carnegie out for $480 million. (M.A.P.A.H.) Morgan gathered together United States Steel, which was an amalgamation of 180 independent businesses. This business, US Steel, was capitalized at $1 billion dollars! Morgan demolished Carnegie’s steel company by owning or regulating 65 iron ore mines [ 1906, Lake Superior ], over 700 steel and iron works, 1,100 miles of railroad…

    • 189 Words
    • 1 Page
    Good Essays
    Read More
  • Good Essays

    Target Strategic Analysis
    • 4446 Words
    • 18 Pages

    Target Strategic Analysis

    "Corporate Fact Sheet." Fact Sheet: Quick Facts About Target. N.p., n.d. Web. 24 Mar. 2013.…

    • 4446 Words
    • 18 Pages
    Good Essays
    Read More
  • Powerful Essays

    American Corporation Analysis
    • 1414 Words
    • 6 Pages

    American Corporation Analysis

    Seeking Alpha. (2013, May 29). Wal-Mart Stores Inc. Stock Analysis 2013. Retrieved September 16, 2013, from Seeking Alpha: http://seekingalpha.com/article/1466131-wal-mart-stores-inc-stock-analysis-2013…

    • 1414 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Lockheed Martin Case 2011
    • 9744 Words
    • 39 Pages

    Lockheed Martin Case 2011

    Lockheed Martin. (2011, November 9). Total Value. Retrieved November 9, 2011, from Lockheed Martin: http://www.lockheedmartinjobs.com/totalvalue.asp…

    • 9744 Words
    • 39 Pages
    Powerful Essays
    Read More
  • Good Essays

    The Steel Industry: Carnegie Vs. Rockefeller
    • 853 Words
    • 4 Pages

    The Steel Industry: Carnegie Vs. Rockefeller

    In the early 1900s, businesses were thriving and the competition to be the wealthiest was through the roof. Andrew Carnegie and John Rockefeller were two of the most important men in America. Carnegie was the leader of the Steel industry and Rockefeller was the leader of the oil. These two men despised the idea of the other. Carnegie always wanted to be the wealthiest and was always thinking of new ways to be wealthier than Rockefeller. Carnegie came to a point in his career where he would have to come to a decision on what type of business he would run. It depended on if he could become the dirty type of business man. Carnegie decided to hire a man named Henry Frick, and together, these men would make profits and reach goals Carnegie thought unimaginable. Through fierce competition, these three men shaped the future of American business.…

    • 853 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    The Master of Steel: Andrew Carnegie
    • 347 Words
    • 2 Pages

    The Master of Steel: Andrew Carnegie

    J.P. Morgan: the banker who bought the Carnegie steel empire which became the core of the United States Steel Company.…

    • 347 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Week 1 Favorite Brand Paper
    • 1183 Words
    • 4 Pages

    Week 1 Favorite Brand Paper

    The Kroger Company. (2014). The Kroger Co. - History of Kroger. Retrieved from Kroger: http://www.thekrogerco.com/about-kroger/history-of-kroger…

    • 1183 Words
    • 4 Pages
    Better Essays
    Read More
  • Powerful Essays

    Andrew Carnegie and the Steel Industry
    • 2374 Words
    • 68 Pages

    Andrew Carnegie and the Steel Industry

    Andrew Carnegie was a Scottish-American who lived during the 19th century. Carnegie was an industrialist who played a pivotal role in the expansion of the American steel industry. Although he sometimes used methods that hurt the people to make profit , Carnegie contributed to America's growth as a nation economically because he connected different parts of America by building bridges and railroads and he helped cities to grow by building modern structures such as skyscrapers. Carnegie was born in Dunfermline, Scotland in the attic of a small house on November 25th, 1835.1 He was named after his grandfather, Andrew Carnegie, who was a popular man in the district, being the head of the lively ones of his day and the chief of their club, “Patiemuir College.”2 He grew up having little formal education, but his family held books and learning at a high level of importance.3 In 1848, when he was 13 years old, Carnegie and his family moved to the United States and made a home in Allegheny, Pennsylvania. He worked in a factory and later worked his way through the telegraphing business. Carnegie’s ability to get his foot in the door of the railroad business enabled him to learn the tricks of the trade and also about business altogether. 4 With the experiences he acquired, he was well on his way to becoming one of the most successful business men in America of his time. Carnegie’s life was one full of many events, ups and downs, gains and losses, but it certainly can be said that it was a life well lived. 1Andrew Carnegie, Louise W. Carnegie, and John C. Van Dyke, Autobiography of Andrew Carnegie (Boston: Houghton Mifflin, 1920), 2. 2 Ibid.…

    • 2374 Words
    • 68 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Lean Wausau Equipment Company (A)
    • 4892 Words
    • 41 Pages

    Lean Wausau Equipment Company (A)

    scope of its business into foreign markets with its machinery and equipment. In 1981, it opened…

    • 4892 Words
    • 41 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Lockheed Martin Case Study
    • 1657 Words
    • 7 Pages

    Lockheed Martin Case Study

    Corporation, Lockheed Martin. (2010 йил 01-01). Lockheed Martin History. Retrieved 2010 йил 15-01 from Lockheed Matin Corporation: http://www.lockheedmartin.com/aboutus/history/index.html…

    • 1657 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Better Essays

    Health Insurance
    • 1350 Words
    • 6 Pages

    Health Insurance

    > History of Aetna Inc. – FundingUniverse. (n.d.). Find Funding with Banks, Investors, and Other Funding Sources | FundingUniverse. Retrieved May 11, 2013, from http://www.fundinguniverse.com/company-histories/aetna-inc-history/…

    • 1350 Words
    • 6 Pages
    Better Essays
    Read More
  • Best Essays

    Brand Extension Marketing Plan
    • 4550 Words
    • 19 Pages

    Brand Extension Marketing Plan

    Nintendo. (2012). Nintendo - Corporate Information | Corporate mission and philosphy. Retrieved November 11, 2012, from Nintendo.com: http://www.nintendo.com/corp/mission.jsp…

    • 4550 Words
    • 19 Pages
    Best Essays
    Read More

Related Topics