# Mittal Steel Company

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1978–2006 European steel company

Mittal Steel Company, N.V. Industry Steel Founder Lakshmi Mittal Defunct August 1, 2006; 19 years ago (2006-08-01) (acquired Arcelor to form ArcelorMittal) Successor ArcelorMittal Area served Worldwide Key people Lakshmi Mittal (Chairman & CEO) Products Steel, flat steel products, coated steel, tubes and pipes Revenue US$28.132 billion (2005) Operating income $4.746 billion (2005) Net income $3.365 billion (2005) Number of employees 320,000 (2006)

**Mittal Steel Company N.V.**, incorporated in the Netherlands and headquartered in the United Kingdom, was a [steel](/source/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](/source/Arcelor) to form [ArcelorMittal](/source/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](/source/Lakshmi_Mittal) and his family and 54.74% of the company was publicly traded.[1]

## History

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](/source/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](/source/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](/source/Temirtau), [Kazakhstan](/source/Kazakhstan).[4]

In 1996, the company acquired [Irish Steel](/source/Irish_Steel).[5]

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

In 1997, the company became a [public company](/source/Public_company) via an [initial public offering](/source/Initial_public_offering).

In 1998, the company acquired [Inland Steel Company](/source/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](/source/Mittal_Steel_South_Africa).[6]

In 2004, the company acquired [Polskie Huty Stali](/source/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](/source/Tadeusz_Sendzimir_Steelworks).[7]

In 2005, the company acquired [International Steel Group](/source/International_Steel_Group).[4]

In 2005, the company announced a $9 billion investment in [Jharkhand](/source/Jharkhand), [India](/source/India).

In October 2005, Mittal Steel acquired [Ukrainian](/source/Ukraine) steel manufacturer [Kryvorizhstal](/source/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](/source/Leonid_Kuchma) was cancelled by the incoming government of President [Viktor Yushchenko](/source/Viktor_Yushchenko).

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

In August 2006, the company acquired [Arcelor](/source/Arcelor) in a $33 billion transaction to form [ArcelorMittal](/source/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](/source/Standstill_agreement) not to acquire a controlling interest without approval from independent directors.[10][11][12][13]

## References

1. ^ [***a***](#cite_ref-20F_1-0) [***b***](#cite_ref-20F_1-1) [***c***](#cite_ref-20F_1-2) [***d***](#cite_ref-20F_1-3) [***e***](#cite_ref-20F_1-4) [***f***](#cite_ref-20F_1-5) ["Mittal Steel Company N.V. 2006 Form 20-F Annual Report"](https://www.sec.gov/Archives/edgar/data/1041989/000119312507082765/d20f.htm). [U.S. Securities and Exchange Commission](/source/U.S._Securities_and_Exchange_Commission).

1. **[^](#cite_ref-2)** ["A new plan for iron and steel"](https://newsday.co.tt/2023/06/15/a-new-plan-for-iron-and-steel/). *[Trinidad and Tobago Newsday](/source/Trinidad_and_Tobago_Newsday)*. 15 June 2023.

1. **[^](#cite_ref-3)** ["Giant steps"](https://www.theglobeandmail.com/report-on-business/giant-steps/article702666/). *[The Globe and Mail](/source/The_Globe_and_Mail)*. January 28, 2006.

1. ^ [***a***](#cite_ref-saga_4-0) [***b***](#cite_ref-saga_4-1) [***c***](#cite_ref-saga_4-2) [***d***](#cite_ref-saga_4-3) [***e***](#cite_ref-saga_4-4) [***f***](#cite_ref-saga_4-5) [***g***](#cite_ref-saga_4-6) [***h***](#cite_ref-saga_4-7) [***i***](#cite_ref-saga_4-8) ["FactBox – Mittal Steel's saga of acquisitions"](https://www.reuters.com/article/idUSL20789619/). *[Reuters](/source/Reuters)*. August 9, 2007.

1. **[^](#cite_ref-5)** ["New name as Irish Steel sold for £1"](https://www.irishtimes.com/business/new-name-as-irish-steel-sold-for-1-1.54447). *[The Irish Times](/source/The_Irish_Times)*. 31 May 1996.

1. **[^](#cite_ref-6)** ["Iscor to become Mittal Steel SA"](https://www.steelorbis.com/steel-news/latest-news/iscor-to-become-mittal-steel-sa-151156.htm). *Steel Orbis*. March 3, 2005.

1. **[^](#cite_ref-7)** Jarausch, Konrad H. (2015). ["Out of Ashes: A New History of Europe in the Twentieth Century"](https://www.jstor.org/stable/j.ctvc77dk5). [JSTOR](/source/JSTOR_(identifier)) [j.ctvc77dk5](https://www.jstor.org/stable/j.ctvc77dk5).

1. **[^](#cite_ref-8)** ["Mittal plans 12 mn tonne steel plant in Orissa"](https://timesofindia.indiatimes.com/business/india-business/Mittal-plans-12-mn-tonne-steel-plant-in-Orissa/articleshow/1714285.cms). *[The Times of India](/source/The_Times_of_India)*. July 7, 2006.

1. **[^](#cite_ref-9)** ["ArcelorMittal Deal A Steal For Severstal"](https://www.forbes.com/2008/03/21/severstal-arcelor-mittal-markets-equity-cx_ll_0321markets04.html). *[Forbes](/source/Forbes)*. March 21, 2008.

1. **[^](#cite_ref-10)** ["Mittal Steel raises Arcelor bid"](https://www.aljazeera.com/news/2006/5/19/mittal-steel-raises-arcelor-bid). *[Al Jazeera English](/source/Al_Jazeera_English)*. May 19, 2006.

1. **[^](#cite_ref-11)** Timmons, Heather; Kramer, Andrew (May 19, 2006). ["Mittal Steel raises its bid for Arcelor"](https://www.nytimes.com/2006/05/19/business/worldbusiness/19iht-Mittal.html). *[The New York Times](/source/The_New_York_Times)*. [London](/source/London).

1. **[^](#cite_ref-12)** Kanter, James; Timmons, Heather; Giridharadas, Anand (25 June 2006). ["Arcelor agrees to Mittal takeover"](https://www.nytimes.com/2006/06/25/business/worldbusiness/25iht-steel.html). *[The New York Times](/source/The_New_York_Times)*.

1. **[^](#cite_ref-13)** ["Steel firm opts for Mittal offer"](http://news.bbc.co.uk/1/hi/business/5114290.stm). *[BBC News](/source/BBC_News)*. 25 June 2006.

v t e Iron and steel production History of ferrous metallurgy List of steel producers Iron production (Ironworks) Smelting Bloomery (produces sponge iron) Blast furnace (produces pig iron) Cold blast Hot blast Anthracite iron Direct reduced iron Secondary Wrought iron (via Finery forge or Reverberatory Puddling Furnace) Cast iron (via Cupola furnace or Induction furnace) Steelmaking (Steel mill) Primary (Pre-1850) Pattern welding Crucible steel (Damascus steel, Wootz steel) Tatara furnace Cementation process Primary (Post-1850) Bessemer process Open hearth furnace Electric arc furnace Basic oxygen process Secondary Electro-slag remelting Vacuum arc remelting Argon oxygen decarburization Heat treatment methods Annealing Low hydrogen Short circuit Hardening / Case-hardening Ausforming Boriding Carbonitriding Carburizing Cryogenic Ferritic nitrocarburizing Induction Nitriding Precipitation Quench polish quench Tempering Austempering Martempering Cryogenic treatment (Deburring Deflashing Hardening) Differential heat treatment Decarburization Forming gas Post weld heat treatment Quenching Superplastic forming Production by country Bangladesh China India Italy Luxembourg Nigeria Taiwan United Kingdom United States

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Adapted from the Wikipedia article [Mittal Steel Company](https://en.wikipedia.org/wiki/Mittal_Steel_Company) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Mittal_Steel_Company?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.