About the division of Mittal family it is said it was not division of business assests but geographical division. L.N. Mittal decided to operate abroad while his younger brothers were left to carry on the inland business. But Promod Mittal broke this tacit agreement and went global. Then L.N. just said, in the business world […]
One of the most controversial business deals ever—the acquisition of Arcelor Steel by Mittal Steel led to the creation of Arcelor-Mittal, the largest steel maker in the world.Mittal Steel: The largest producer of steel in terms of volume. Despite the fact that Mittal steel is based in Netherlands, it is perceived that the company is
There was a long drawn out battle for acquisition or merger between Mittal Steel and European giant Arcelor. It was perhaps the most rabble rousing industrial controversy of the recent times. It raised passions. Some parties betrayed their ugly racial attitudes. There were frayed tempers and words below dignity uttered or plainly abusive language used.
1976 ‘Steel International’ set up. Steel rolling mill with 65,000 tonnes per year capacity started in Indonesia.1989 First acquisition of sick steel in Trinidad.1992 Acquisition of Silbasa Steel Plant of Mexico.1994 Acquisition of Sidbech Dosco, Canada.1995 Setting up of Steel Hamburger (Germany) Steel International Shipping. Acquistion of Steel Cormet in Kazakhstan.1996 Coal mine and power
The very early years Laxmi Mittal spent on the sand dunes of Rajasthan. As a five year old he went to Kolkata to live with his father, do his schooling and college level education. Alongside college education he gained practical knowledge of steel works. Then, as a steel business professional he showed his learning capacity,
People of Rajasthan have greatest value for water, the scarest commodity of their homeland. They treasure water like precious item. A waterloss area is unproductive being inhospitable for vegetation forest, agriculture, industry and that dried up the scope of business and trade. The money becomes a rarest thing. So, a Rajasthani hangs on to every
Aditya Mittal was born in 1976 when the family was debating whether to expand in India or spread wings in foreign lands. In the case of Mittals destiny was clearly playing a role. When Laxmi Niwas was born his father Mohanlal got a sudden break to break into the steel making business that decided the
In 1995 when Mittals divided their business into the brothers it was felt that Laxmi Niwas Mittal was on the losing side. But later Laxmi showed it did not matter what one got but the important point was what he made of whatever he got. A man is builder of his own fortune or destiny.
Before gathering momentum and rhythm every machine making unpleasant jarring noises, similarly is the start of an industrial venture that gets dogged by errors, slips, ommisions, snags and glitches. When Laxmi Mittal joined steel works he was talented but lacked maturity and polish. He needed tips and guidance from his father. As time passed Laxmi
In a traditional society like ours it is important to know the history of the family and its background. The family values and traditions shape up a person and create a mindset. Mittals originated from the same Shekhavati area of Rajasthan that gave India the Birla’s, Khaitans, Bajajs, Kanodias etc. Before the advent of British
A man’s true worth is only known when he is gone. Birla was also a man whose real worth dawned on us when he was no more around. His critics and detractors must at least now be fair enough to late G.D. Birla and admit that he was a man of exceptional business talent who
During the rein of Indira Gandhi the traumatic political events he went through forced him to take leave of the public and professional life. Even upto 1980 barbs kept targeting him. His personal and business methods were again and again got scrutinised and faults dug out. When Birla entered 81st year of age W. Bengal
On May 27, 1964 Jawaharlal Nehru passed away and Lal Bahadur Shastri succeeded him. It was a happy news for Birla because Shastri valued native culture like he did. Shastri was the product of Kashi Vidyapeeth (Later day Benaras Hindu University) in the upgradation of which to a famed university Birla family had made huge
The country was on way to gain the overdue freedom. European businessmen knew their game was over and they would have to leave India. They started winding up their works and selling. The native industrialists had golden chance to aquire companies. In this respect Birlas were the biggest gainers. They bought a number of enterprises
After the death of Patel Jawaharlal Nehru became an undisputed leader of the nation. Clearly for Congress and the country Nehru era had begun. In this era the relations between Nehru and Birla remained cold. G.D. Birla had Hinduist bend of mind while Jawaharlal was fierce advocate of secularism. For Nehru the family background of