Mittal Steel Company

Template:Short description {{#invoke:Infobox|infobox}}Template:Template otherTemplate:Main other{{#invoke:Check for clobbered parameters|check|nested=1|template=Infobox company|cat=Template:Main other|name; company_name|logo; company_logo|logo_alt; alt|trade_name; trading_name|former_names; former_name|type; company_type|predecessors; predecessor|successors; successor|foundation; founded|founders; founder|defunct; dissolved|hq_location; location|hq_location_city; location_city|hq_location_country; location_country|num_locations; locations|areas_served; area_served|net_income; profit|net_income_year; profit_year|owners; owner |homepage; website }}{{#invoke:Check for unknown parameters|check|unknown=Template:Main other|preview=Page using Template:Infobox company with unknown parameter "_VALUE_" | ignoreblank=y | alt | area_served | areas_served | assets | assets_year | aum | brands | company_logo | company_name | company_type | defunct | dissolved | divisions | embed | equity | equity_year | fate | footnotes | headquarters | former_name | former_names | foundation | founded | founder | founders | genre | homepage | hq_location | hq_location_city | hq_location_country | incorporated | image | image_alt | image_caption | image_size | image_upright | income_year | industry | ISIN | key_people | location | location_city | location_country | locations | logo | logo_alt | logo_caption | logo_class | logo_size | logo_upright | members | members_year | module | name | native_name | native_name_lang | net_income | net_income_year | num_employees | num_employees_year | num_locations | num_locations_year | operating_income | owner | owners | parent | predecessor | predecessors | production | production_year | products | profit | profit_year | rating | ratio | revenue | revenue_year | romanized_name | services | subsid | subsidiaries | successor | successors | traded_as | trade_name | trading_name | type | website| qid | fetchwikidata | suppressfields | noicon | nocat | demo | categories }} 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.<ref name=20F/> 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.<ref name=20F>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

As of 2006, the company was 44.79% owned by Lakshmi Mittal and his family and 54.74% of the company was publicly traded.<ref name=20F/>

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.<ref name=20F/>

In 1989, the company leased Iron & Steel Company of Trinidad & Tobago from its government.<ref>Template:Cite news</ref>

In 1992, the company acquired Sibalsa from the government of Mexico.<ref>Template:Cite news</ref>

In 1994, the company acquired Sidbec-Dosco.<ref name=saga/>

In 1995, the company acquired Hamburger Stahlwerke, which formed Ispat International Ltd. and Ispat Shipping, and also bought Karmet Steel of Temirtau, Kazakhstan.<ref name=saga/>

In 1996, the company acquired Irish Steel.<ref>Template:Cite news</ref>

It also acquired Walzdraht Hochfeld and Stahlwerk Ruhrort.<ref name=saga/>

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

In 1998, the company acquired Inland Steel Company.<ref name=saga/>

In 1999, the company acquired Unimétal.<ref name=saga/>

In 2001, the company acquired ALFASID and Sidex.<ref name=saga/>

In 2004, it bought a majority stake in Iscor, renamed Mittal Steel South Africa.<ref>Template:Cite news</ref>

In 2004, the company acquired Polskie Huty Stali, BH Steel, and certain Macedonian facilities from Balkan Steel.<ref name=saga>Template:Cite news</ref>

In 2004, it merged with LNM Holdings and was renamed Mittal Steel.<ref name=saga/><ref name=20F/>

In January 2005, the company acquired Tadeusz Sendzimir Steelworks.<ref>Template:Cite news</ref>

In 2005, the company acquired International Steel Group.<ref name=saga/>

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.<ref>Template:Cite news</ref>

In August 2006, the company acquired Arcelor in a $33 billion transaction to form ArcelorMittal, which owned 10% of steel capacity worldwide.<ref name=20F/><ref>Template:Cite news</ref> 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.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>