The steel tycoon, Laxmi Narayan Mitttal is a London based industrialist and a Forbes 100 billionaire. He is the richest Indian in the world and one of the richest persons in Britain.
Such is the charisma of Mittal that his company is all set to become the world’s largest producer of steel. Mittal holds steel assets in South Africa, Poland, Indonesia, and Kazakhstan.
The foreign operations of the family business were passed on to Laxmi Narayan Mittal at an early age. Starting from Ispat Indo in Indonesia, Mittal has become the steel king of the world. By his vision and hard work, Mittal has built the moderate business of his family into a global steel giant, which spans across many countries. The companies of the LNM Ispat group include Ispat international NV, Ispat Karmet and Indo Ispat.
From the core business of steel manufacturing, his group is now diversifying into shipping, coal, power and oil enterprises. The most fascinating thing about this man is that he is said to have a knack of buying sick and rusted steel companies and turning them into gold!
Experts say that his capability to quote the cost of these sick companies make him winner all the way. It is no mean achievement that when the global steel industry is in its worst recession phase, Mittal’s steel plants are churning huge profits!
His zeal and fierceness for acquiring sick and closed steel plants is so intense that many times he has to jet from one country to another, in quick succession, to sign another takeover deal. It is no surprise that he turns all of them into gold. That’s why the old saying, fortune favours the brave, applies to him in its entirety. Mittal, now owns 12 giant-sized steel plants that are part of a far-flung empire stretching from Canada to Trinidad and Tobago to Kazakhstan and Indonesia.
Lakshmi Mittal successfully took over steel major Arcelor recently despite protectionist postures adopted by European governments against the move.
