Mittal Steel Company
The Mittal Steel Company N.V. was the world's largest steel producer and is since the merger with the former second largest steel producer Arcelor in 2007, a part of Arcelor Mittal.
Group
Mittal Steel was based in Rotterdam in the Netherlands, but from the Berkeley Square in London by the majority shareholder Lakshmi Mittal (CEO) and his son Aditya CFO ) was passed. The company was on the acquisition of LNM Holdings NV founded by Ispat International ( Ispat is Hindi and is called steel), both of which were already at that time controlled by Lakshmi Mittal and the spring of 2005 merged with International Steel Group Inc. (ISG ), in which the former U.S. steel giant Bethlehem Steel, Republic Steel and LTV Steel were united. More than 90 percent of the shares were always owned by the Mittal family.
Business
Mittal employs in the year 2005 320.000 people and generated a turnover of 28.132 billion in the year. U.S. Dollar (USD). In 2004, 48 million tons of steel were produced, more than the nearest competitor, Arcelor (45 million tons) and Nippon Steel ( 31.3 million tonnes). The Luxembourg- French-Spanish Arcelor Mittal still surpassed in sales with an annual turnover of 37 billion in 2004.
Mittal's unique business model enabled the company to build a profitable business in countries that are not regarded as the first address. Mittal bought loss-making or with low utilization steel producers and brought them back on the winning track by flat hierarchies, cost reduction, sales orientation, layoffs and shutdowns. He created leaner and more competitive companies. In this case, the global steel industry has benefited him.
The Company has in 18 countries production locations: China, India, Indonesia, United States, Mexico, Canada, France, Germany, Poland, Romania, Algeria, South Africa, Czech Republic, Bosnia and Herzegovina, Macedonia, Trinidad and Tobago, Kazakhstan and Ukraine.
Mittal gate
The British Labour Party is, according to media reports on 23 May 2001 have received a donation of Lakshmi Mittal. The online magazine Slate reported that Blair had allegedly written on a letter to the Romanian president Adrian Năstase, in which he thanks us for permission to purchase the state-owned Romanian company Sidex by Mittal Steel Company. This letter led to the adoption, Labour have represented the Mittal'schen interests in this kind due to the donation payment. Blair's press spokesman said the Prime Minister had not written the letter because of the donation payment. Tony Blair had never known of the Mittal donation. The case caused a " Mittal Gate" headlines.
Bids on Kriworoschstal and Arcelor
In October 2005, Mittal Steel acquired the Ukrainian steel producers Kriworoschstal for USD 4.8 billion at an auction after a previous, controversial auction to a consortium was headed by the son of the former Ukrainian president Leonid Kuchma, by the then President Viktor Yushchenko had been canceled.
On January 27, 2006 offer to the shareholders of Arcelor of € 18.6 billion was announced. Mittal has so per Arcelor share € 28.21 or 27 % more than the closing price of Arcelor shares on 26 January 2006 on the Paris Bourse. The governments of Luxembourg, France and Belgium have spoken out against the merger of Arcelor with Mittal Steel and criticized "hostile " takeover bid without prior contact with the existing shareholders and the Supervisory Board. If Mittal with its hostile takeover bid should be successful, it would be with a production volume of 119 million tons of steel per year. Both on the sales volume as well as after the largest steel producer by far the world sales Mittal Steel expects synergies of approximately $ 1 billion and an accelerated consolidation in the industry with a successful takeover of Arcelor. Arcelor maintains in Bremen, Unterwellenborn (Thuringia) and with Arcelor Eisenhüttenstadt (Brandenburg) sites in Germany. Mittal operates in Germany Mittal Steel Hamburg GmbH (formerly Hamburger steel mills ) and the Mittal Steel Ruhrort GmbH and Mittal Steel upfield GmbH, which were sold by Thyssen, Thyssen as retired in Duisburg exclusively on the flat steel sector.
In anticipation of expected objections of American antitrust authorities Mittal has already agreed with ThyssenKrupp AG that the Canadian Dofasco group from the Arcelor will be dissolved again and will still go to the formerly inferior highest bid at ThyssenKrupp. (This message was on January 27, fit for the General Meeting of TK, the TK - explode rate of about 18 Euro within a few hours to more than 23 euros. )