mittal

When he made his sudden and spectacular appearance on the European business scene in early 2006, Mr Mittal was still a relative unknown.

Mittal, who has made no secret of his desire to expand into China, expanded on the subject in a later press briefing.

Mr Mittal said he would find the appropriate women players in India and arrange that they come here for some training sessions.

Lakshmi Mittal is considering entering the takeover battle for Rio Tinto, the mining group, according to people familiar with the matter.

"I continue to see conditions for the steel industry as being very favourable, " said Mr Mittal in an interview with the Financial Times.

But Mr Mittal said the extra cost of servicing rural customers, and their low usage levels, had made things unprofitable.

And both Arcelor and Mittal recently lost out to a domestic bidder for a slice of Erdemir, a Turkish state-owned steel firm.

"I used to fly in a local flying club where the pilots would be languishing jobless, " Mr Mittal says.

Meanwhile Lakshmi Mittal, chairman and chief executive and with a 45 per cent stake, might prefer not to fund a rights issue.

Mr Mittal also gave further details of his new thinking on setting up steel plants in India in the next few years.

And Mittal is not the only Indian business leader snapping up foreign companies.

Mr Mittal said he expected to close the deal by the end of next month.

"We have figured out a way to take microparticles and nanoparticles and physically embed them into the surfaces of materials, " he says.

Lakshmi Mittal, that firm's boss, is an Indian entrepreneur so global his firm makes no steel at all in his homeland.

But it is highly unlikely that Mr Mittal would wish to entertain such a radical step.

Mittal, who plays an occasional game of badminton and likes to cycle around Hyde Park in London, where he now lives.

Mr Mittal must be hoping that a similar fate does not creep up on his company in the next few years.

"In terms of geographical areas, the Middle East, Eastern Europe, Russia, Latin America and China are still doing well, " Mr Mittal said.

But Mr Mittal already has in-house ore supplies to cover half his needs and expects this to grow to three-quarters in a few years.

Steel magnate Lakshmi Mittal spent what reports suggested was at least ? 30m on his daughter Vanisha's wedding in 2004.

He likes to point out that having a strong base in both developing and rich countries gives his company a balanced portfolio.

"I'd hope some day the Chinese government would allow this [foreign ownership] to happen, perhaps in the next two years, " Mr Mittal said.

Mr Mittal was not the only one thinking of global consolidation in late 2005.

Arcelor first said it would pay US$900m for a 38 per cent stake in Laiwu nearly two years ago, before its merger with Mittal.

Mr Mittal and his son, Aditya, had cooked up the deal two days before Christmas 2005, during their annual skiing holiday in St Moritz.

Many prominent billionaires have holiday homes on the road, including Lakshmi Mittal and Italian Prime Minister Silvio Berlusconi.

Mr. Mittal said potential customers world-wide are working through some of their inventories, slowing orders for steel.

"We have made no secret of our wish to participate more actively in China's fast-growing steel market, " Mr Mittal said in a statement.

Mittal is currently the richest man in Europe and the 5th richest globally with a net worth of US$28. 7 billion.

"My plan is now to have 2-4 sites rather than concentrate everything on large plants, " Mr Mittal said.

The confusion over Mittal's origins among French government ministers reflects the novelty of the group.

Through management and ownership, the untrustworthy Mittal family would dominate.

Presently, the transaction between the Hunan Valin Steel Group and the Mittal Steel Company N.

Indian citizen and London resident , Lakshmi Niwas Mittal, is the chairman and CEO of the global steel company, ArcelorMittal .

However, Mr Mittal knows that if he moves too quickly or appears aggressive, this will antagonise the Chinese leadership.

Named after the Hindi Goddess of Wealth , Lakshmi Mittal is the owner of the world's largest steel manufacturer, ArcelorMittal.

And Arcelor Mittal enjoys massive economies of scale and globally diversified operations.

A deal of this sort, assuming Mr Mittal sold a stake of 5-10 per cent, could raise up to $2. 5bn.

"We may have to accept less than we wanted, " said Mr Mittal.

China is important for Mr Mittal because of its high growth potential over the next 10 years.

Among the top 30 managers of Arcelor Mittal there are nine different nationalities.

Second, and more important, the Arcelor-Mittal deal demonstrates Europe's deepening integration into the global economy.

Mr Mittal has long wanted the world's largest steel-making company to expand into the world's largest steel-producing country.

China meanwhile needs iron ore, which ArcelorMittal has, plus the expertise Mr Mittal could bring.

After a summons from President Nicolas Sarkozy, Mr Mittal has agreed to review plans to close a plant in north-east France.

Thus was born Arcelor Mittal, the first steel company with an annual output of more than 100m tonnes.

A Rice University marketing professor, Vikas Mittal, may have the answer.

Mr Mittal's bid is now 49% higher than it was in January.

If Mittal manages to buy more than 50% of Arcelor shares by the time the tender offer expires, the Severstal deal will fall through.

That sentiment would have sounded more convincing coming from Mr Mittal.

"There has to be a two-way aspect to policy, " Mr Mittal said.

Today, U. S. Steel, Arcelor Mittal, and Nucor control more than half of U. S. production.

Market shifts can liberate previously unobtainable resources, such as the privatised steel mills that formed the foundation of Mittal Steel.

After Bloomberg is Italian Prime Minister Silvio Berlusconi and Indian steel tycoon Lakshimi Mittal.

Lakshmi Mittal, the billionaire steel magnate, owns 2 houses on the street. The current price for his houses is around $77000 per sqm.

Mr Mittal has hitherto hewed to good corporate governance practice.

Arcelor-Mittal, the world's largest steelmaker, has a stock price that's only twice its annual earnings per share.

The origins of the Mittal steel empire were less obvious.

Mr Mittal should enjoy the relatively good times while they last.

Lakshmi Mittal, boss of the world's biggest steel company, knows he must tread softly to secure the foothold his company desires in China.

Nasscom President Som Mittal expects wage increases for new hires will be as high as 12 percent this year.

Arcelor Mittal, based in Luxembourg, is the world's largest steel firm.

Mr Mittal's 25. 8 billion ($32. 3 billion) bid would create a huge producer nearly four times the size of its nearest rival.

Over the past 5 months Arcelor's management have done everything they can to prevent a deal with Mittal Steel going ahead.

Mr Mittal also said rising prices of raw materials such as iron ore and coal were causing concern for the steel industry.

So Mr Mittal's father helped him start a steel mill from scratch in Indonesia in 1975.

Mittal says revenue in 2009 was in the "low six figures" and this year he projects over $1 million.

He says it was "a mistake" to have sold Arcelor, a steelmaker taken over by Mittal last year.

Indian billionaire Lakshmi Mittal bought a 20% stake in the Queens Park Rangers in 2007.

The combined Mittal-Arcelor group will have three joint- venture steel operations in China.

As Mr Mittal said: "Anyone seeking to do a major deal in China will learn about Donald Tang. "

But he is hoping he can demonstrate that Arcelor Mittal can bring new technologies and management methods to the country.

"We are doing well in China, given the constraints that we face there, " Mr Mittal says.

Arcelor Mittal, the world's largest steel producer, has a profit margin of just 3. 7% and return on assets of 2. 7%.

Alok Mittal trades in anything 'made in China'-from printer cartridges to locks, children's toys to wrist watches.

The world's largest steelmaker, Arcelor Mittal, Mittal's chief financial officer, said the actual demand continues to grow, but slower;

Steel giant Lakshmi Mittal placed fourth with 45 billion dollars

Mittal Steel wins the battle for Arcelor