Mittal Steel Company N.V., incorporated in the Netherlands and headquartered in the United Kingdom, was a steel producer. In 2006, it produced 110.5 million tonnes of steel and had annual production capacity of 138 million tons of steel.[1] In August 2006, it acquired Arcelor to form ArcelorMittal.

The company was named Ispat International N.V. until a merger with LNM Holdings N.V. in 2004.[1]

As of 2006, the company was 44.79% owned by Lakshmi Mittal and his family and 54.74% of the company was publicly traded.[1]

History

Mittal Steel Growth chart with acquired companies
Growth of Mittal Steel's steel production, based on its acquisitions.

Mittal Steel Company is a successor to a business founded in 1989 by Lakshmi Mittal.[1]

In 1989, the company leased Iron & Steel Company of Trinidad & Tobago from its government.[2]

In 1992, the company acquired Sibalsa from the government of Mexico.[3]

In 1994, the company acquired Sidbec-Dosco.[4]

In 1995, the company acquired Hamburger Stahlwerke, which formed Ispat International Ltd. and Ispat Shipping, and also bought Karmet Steel of Temirtau, Kazakhstan.[4]

In 1996, the company acquired Irish Steel.[5]

It also acquired Walzdraht Hochfeld and Stahlwerk Ruhrort.[4]

In 1997, the company became a public company via an initial public offering.

In 1998, the company acquired Inland Steel Company.[4]

In 1999, the company acquired Unimétal.[4]

In 2001, the company acquired ALFASID and Sidex.[4]

In 2004, it bought a majority stake in Iscor, renamed Mittal Steel South Africa.[6]

In 2004, the company acquired Polskie Huty Stali, BH Steel, and certain Macedonian facilities from Balkan Steel.[4]

In 2004, it merged with LNM Holdings and was renamed Mittal Steel.[4][1]

In January 2005, the company acquired Tadeusz Sendzimir Steelworks.[7]

In 2005, the company acquired International Steel Group.[4]

In 2005, the company announced a $9 billion investment in Jharkhand, India.

In October 2005, Mittal Steel acquired Ukrainian steel manufacturer Kryvorizhstal for $4.8 billion in an auction after a controversial earlier sale for a much lower price to a consortium including the son-in-law of ex-President Leonid Kuchma was cancelled by the incoming government of President Viktor Yushchenko.

In July 2006, the company announced plans to build a 12 million tonne capacity steel plant in Odisha, India.[8]

In August 2006, the company acquired Arcelor in a $33 billion transaction to form ArcelorMittal, which owned 10% of steel capacity worldwide.[1][9] The merger was consummated after Mittal Steel raised its bid for Arcelor and the Mittal family agreed to relinquish its controlling stake in the company and execute a standstill agreement not to acquire a controlling interest without approval from independent directors.[10][11][12][13]

References

  1. ^ a b c d e f "Mittal Steel Company N.V. 2006 Form 20-F Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "A new plan for iron and steel". Trinidad and Tobago Newsday. 15 June 2023.
  3. ^ "Giant steps". The Globe and Mail. January 28, 2006.
  4. ^ a b c d e f g h i "FactBox – Mittal Steel's saga of acquisitions". Reuters. August 9, 2007.
  5. ^ "New name as Irish Steel sold for £1". The Irish Times. 31 May 1996.
  6. ^ "Iscor to become Mittal Steel SA". Steel Orbis. March 3, 2005.
  7. ^ Jarausch, Konrad H. (2015). "Out of Ashes: A New History of Europe in the Twentieth Century". JSTOR j.ctvc77dk5.
  8. ^ "Mittal plans 12 mn tonne steel plant in Orissa". The Times of India. July 7, 2006.
  9. ^ "ArcelorMittal Deal A Steal For Severstal". Forbes. March 21, 2008.
  10. ^ "Mittal Steel raises Arcelor bid". Al Jazeera English. May 19, 2006.
  11. ^ Timmons, Heather; Kramer, Andrew (May 19, 2006). "Mittal Steel raises its bid for Arcelor". The New York Times. London.
  12. ^ Kanter, James; Timmons, Heather; Giridharadas, Anand (25 June 2006). "Arcelor agrees to Mittal takeover". The New York Times.
  13. ^ "Steel firm opts for Mittal offer". BBC News. 25 June 2006.
Allikas: https://en.wikipedia.org/wiki/Mittal_Steel_Company
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