Difference between revisions of "Lakshmi Mittal"

From Powerbase
Jump to: navigation, search
 
(edited and referenced by Neha)
Line 1: Line 1:
−
[[Ispat International]] is part of the [[LNM Group]], the 4th largest steel producer in the world. They gave £16,000 to the Labour Party in 1997. The Chairman and Chief Executive Officer of Ispat International and the LNM Group is Lakshmi Nivas Mittal. He gave £125,000 to the [[Labour Party]] in May 2001. His personal wealth is estimated at £1 billion.
+
Lakshmi Nivas Mittal is the President and Chief Executive Officer of [[ArcelorMittal]], the world's largest steel company and leader in all major global markets{{ref|1}}.  [[ArcelorMittal]] is the result of a merger between Arcelor which was at the time the second largerst steel company in the world, and Mittal Steel, in June 2006{{ref|2}}. Mittal's two sister companies [[LNM Holdings]] and [[ISPAT International]] were merged in 2004 to form Mittal Steel{{ref|3}}.  
  
−
Ispat International is a holding company based in the Netherlands which owns a number of other steel producing companies in the USA, Mexico, Canada, Trinidad and Tobago, Germany and Ireland. Most of these companies were bought in Government privatisation schemes. Ispat International made $647 million gross profit in 1998.
+
In May 2001 Mittal gave £125,000 to the [[Labour Party]], shortly after which [[Tony Blair]] backed his bid for a Romanian firm sparking the 2002 Steelgate Row{{ref|4}}. In 2005 he gave £2 million to the [[Labour Party]], one of the largest donations ever received{{ref|5}}.  His personal fortune is estimated at £19.25 billion and he is ranked the richest man in Britain and the third richest in the world{{ref|6}}. He is known as a tough businessman who made his money from buying up run-down State-owned companies.
  
−
Lakshmi Mittal's stake in Ispat is worth about £260 million. He also owns [[Ispat Karmet]], the former State-owned Kazakhstan steel industry (the largest single employer in the country), which is worth £300 million. He owns a third of [[B4U]], which operates Asian television channels on [[Rupert Murdoch]]'s [[BSkyB]]. His private investment company, [[LNM Capital]], controls assets worth £360 million. He owns a £6 million house in Bishop's Avenue in London (known as 'Millionaire's Row'). He is known as a tough businessman who makes his money from buying up run-down State-owned companies and then slashes jobs and 'squeezes greater productivity' out of the remaining workers, which has led to conflict with steel unions.
+
 
 +
== References ==
 +
 
 +
#{{note|1}}Arcellor Mittal 2007 [http://www.arcelormittal.com/index.php?lang=en&page=9 Profile]
 +
#{{note|2}}Arcellor Mittal 2007 [http://www.arcelormittal.com/index.php?lang=en&page=15 History]
 +
#{{note|3}}Arcellor Mittal 2007 [http://www.arcelormittal.com/index.php?lang=en&page=541 History of Mittal Steel]
 +
#{{note|4}}BBC News, 13 July, 2005; Politics; [http://news.bbc.co.uk/1/hi/uk_politics/4679939.stm Mittal gives Labour £2m donation]  
 +
#{{note|5}}Ibid
 +
#{{note|6}}BBC News, 13 June, 2007; Sport; [http://news.bbc.co.uk/sport1/hi/football/teams/b/birmingham_city/6748695.stm Tycoon quiet over Birmingham bid]

Revision as of 11:40, 14 August 2007

Lakshmi Nivas Mittal is the President and Chief Executive Officer of ArcelorMittal, the world's largest steel company and leader in all major global markets[1]. ArcelorMittal is the result of a merger between Arcelor which was at the time the second largerst steel company in the world, and Mittal Steel, in June 2006[2]. Mittal's two sister companies LNM Holdings and ISPAT International were merged in 2004 to form Mittal Steel[3].

In May 2001 Mittal gave £125,000 to the Labour Party, shortly after which Tony Blair backed his bid for a Romanian firm sparking the 2002 Steelgate Row[4]. In 2005 he gave £2 million to the Labour Party, one of the largest donations ever received[5]. His personal fortune is estimated at £19.25 billion and he is ranked the richest man in Britain and the third richest in the world[6]. He is known as a tough businessman who made his money from buying up run-down State-owned companies.


References

  1. ^Arcellor Mittal 2007 Profile
  2. ^Arcellor Mittal 2007 History
  3. ^Arcellor Mittal 2007 History of Mittal Steel
  4. ^BBC News, 13 July, 2005; Politics; Mittal gives Labour £2m donation
  5. ^Ibid
  6. ^BBC News, 13 June, 2007; Sport; Tycoon quiet over Birmingham bid
Retrieved from "https://powerbase.info/index.php?title=Lakshmi_Mittal&oldid=33710"