type public industry steel successor arcelormittal founded 1989 as ispat international in sumatra indonesia defunct merged 2006 headquarters rotterdam netherlands key people lakshmi mittal founder chairman and ceo products steel flat steel products coated steel tubes and pipes revenue 28.132 billion usd year to 31 december 2005 operating income 4.746 billion 2005 net income 3.365 billion 2005 number of employees 320 000 2006 website www.arcelormittalna.com mittal steel company n.v. was one of the world s largest steel producers by volume and also one of the largest in turnover . the company is now part of arcelormittal . 1 ceo lakshmi mittal s family owned 88 % of the company . mittal steel was based in rotterdam but managed from london by mittal and his son aditya . it was formed when ispat international n.v. acquired lnm holdings n.v. both were already controlled by lakshmi mittal and merged with international steel group inc. the remnants of bethlehem steel republic steel and ltv steel in 2004 . on 25 june 2006 mittal steel decided to take over arcelor with the new company to be called arcelormittal . the takeover has been successfully approved by shareholders and directors of arcelor making l.n. mittal the largest steel maker in the world . contents 1 history 2 bids and acquisitions 3 see also 4 references history edit it was formed as ispat international in 1978 at the time it was part of the indian steel making company ispat industries which was founded by lakshmi mittal s father and was owned by his family but in 1995 it separated from that company after various disagreements between lakshmi and his father . in 1989 the company acquired iron & steel company of trinidad & tobago . in 1992 the company acquired sibalsa . in 1994 the company acquired sidbec dosco . in 1995 the company acquired hamburger stahlwerke which formed ispat international ltd. and ispat shipping and also bought karmet steel of temirtau kazakhstan . in 1997 the company acquired walzdraht hochfeld gmbh and stahlwerk ruhrort . in 1997 the company went public as ispat international nv . in 1998 the company acquired inland steel company . in 1999 the company acquired unim tal . in 2001 the company acquired alfasid and sidex . in 2002 it bought a majority stake in iscor . in 2003 the company acquired nowa huta . in 2004 the company acquired polskie huty stali bh steel and certain macedonian facilities from balkan steel . in 2005 the company hired deloitte as the primary auditors for the company . in 2005 the company acquired international steel group . in 2005 the company acquired kryvorizhstal . in 2005 the company announced the investment of 9 billion in jharkhand india . in 2006 the company merged with arcelor after much controversy . in 2006 the company announced investment for a 12 million tonne capacity steel plant in odisha india . bids and acquisitions edit 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 2005 lakshmi mittal flew into jharkhand india to announce a 9 billion investment to build a greenfield steel plant with a 12 million tonnes per annum production capacity . on 27 january 2006 it announced a 23.3 billion 18.6 billion 12.7 billion bid for arcelor . on 19 may 2006 mittal increased its offer for arcelor by 38.7 % to 32.4 bn or 47.34 per share 25.8 bn 37.74 per share . on 25 june 2006 arcelor in a board meeting announced that it has accepted a further sweetened offer 50.68 or 40.4 per share and the new company would now be called arcelormittal thus successfully ending one of the most controversial and publicised takeover bids in modern corporate history . arcelormittal is now by far the largest steelmaker in the world by turnover as well as volume controlling 10 % of the total world steel output . 1 see also edit arcelormittal arcelor tadeusz sendzimir steelworks references edit arcelor mittal mt . profile at finance.yahoo.com retrieved from https en.wikipedia.org w index.php title mittal steel company & oldid 719841753 categories arcelormittalmultinational companies headquartered in the netherlands navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutschespa olfran aisl tzebuergesch norsk bokm lpolskiportugu srom n shqipt rk e edit links this page 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