Indian-born Lakshmi Mittal became the undisputed steel czar after he announced the merger of his steel assets and following buying of US' International Steel Group in a deal worth $17.8 billion to form the world's largest steel company, Mittal Steel Co.
Mittal has become chairman and CEO of the newly created Mittal Steel, with pro-forma revenues in 2004 of $30 billion and annual production capacity of 70 million tonne. The London-based steel magnate was also recently selected among 40 people who figure in the Forbes magazine's maiden list of the richest Indians worldwide. Mittal has made his steel empire riding on his ability to spot troubled steel makers, that have the potential to do well.
Mittal's uncanny consistency in spotting such opportunities across the globe, buying them cheap, and then turning them around in profit-making ventures speaks volumes about his style of doing business. He is among the very select few who have changed the sheer landscape of the industry that they operate in.
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