Home » Business » Mittal's first overseas venture was in...
Mittal's first overseas venture was in...
Last updated on: July 04, 2006 12:11 IST
Lakshmi Niwas Mittal
Lakshmi Niwas Mittal's big dream of being the world's biggest steel producer has finally come true. After a much publicised and dramatic five-month long battle, the Arcelor board unanimously accepted Mittal's offer making Arcelor-Mittal the largest steel combine in the world. Take the rediff business quiz and find out how much you know about the world's third richest man and his company.
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1. Mittal's first overseas venture was in... a) Mexico b) Canada c) Indonesia
Wrong! Try again..
Wrong! The correct answer is Indonesia. Mittal moved to Indonesia (from India) in 1976 and with his father's backing founded Ispat Indo. In 1992, he went to Mexico and bought the country's third largest steel producer, Sicartsa for $220 million. This was followed by more acquisitions in Mexico, Canada, Germany, and Ireland.
Correct! Mittal moved to Indonesia (from India) in 1976 and with his father's backing founded Ispat Indo. In 1992, he went to Mexico and bought the country's third largest steel producer, Sicartsa for $220 million. This was followed by more acquisitions in Mexico, Canada, Germany, and Ireland.
2. Mittal Steel was born after which two companies merged? a) Ispat International and LNM Holdings b) International Steel Group Inc and LNM Holdings c) Siderurgica del Balsas SA and LNM Holdings
Wrong! Try again..
Wrong! The correct answer is Ispat International and LNM Holdings . Mittal Steel was formed in December 2004. The same year Mittal acquired International Steel Group Inc an Ohio based company, thus becoming the world's most global steel producer with a net worth of over $22 billion. Siderurgica del Balsas SA, is the second Mexican firm that Mittal bought in the nineties.
Correct! Mittal Steel was formed in December 2004. The same year Mittal acquired International Steel Group Inc an Ohio based company, thus becoming the world's most global steel producer with a net worth of over $22 billion. Siderurgica del Balsas SA, is the second Mexican firm that Mittal bought in the nineties.
3. Mittal Steel is present in how many countries? a) 10 b) 12 c) 17
Wrong! Try again..
Wrong! The correct answer is 17. It owns steel-making facilities in 17 countries, spanning four continents and employs 179,000 people. Revenue for 2005 was $28.132 billion. It shipped 49.178 million tonnes of steel during 2005, ahead of Arcelor (45 Mt in 2004), and Nippon Steel (31.3 Mt in 2004). Its shares are listed on the New York and Amsterdam stock exchanges.
Correct! It owns steel-making facilities in 17 countries, spanning four continents and employs 179,000 people. Revenue for 2005 was $28.132 billion. It shipped 49.178 million tonnes of steel during 2005, ahead of Arcelor (45 Mt in 2004), and Nippon Steel (31.3 Mt in 2004). Its shares are listed on the New York and Amsterdam stock exchanges.
4. In India, Mittal plans to set up a steel plant in... a) Jharkhand b) Orissa c) West Bengal
Wrong! Try again..
Wrong! The correct answer is Jharkhand. In 2005 Lakshmi Mittal flew into Jharkhand to announce a $9 billion investment to build a greenfield steel plant with a 12 million tonnes per annum production capacity.
Correct! In 2005 Lakshmi Mittal flew into Jharkhand to announce a $9 billion investment to build a greenfield steel plant with a 12 million tonnes per annum production capacity.
5. How much did Mittal's London mansion cost? a) $102 million b) $125 million c) $128 million
Wrong! Try again..
Wrong! The correct answer is $128 million . The 12-bedroom mansion in located London's Kensington Palace Gardens. Mittal bought it from from Formula One car racing boss Bernie Ecclestone. The property has garage space for 20 cars, Turkish baths, a ballroom, an oak-paneled picture gallery and an ornate basement pool.
Correct! The 12-bedroom mansion in located London's Kensington Palace Gardens. Mittal bought it from from Formula One car racing boss Bernie Ecclestone. The property has garage space for 20 cars, Turkish baths, a ballroom, an oak-paneled picture gallery and an ornate basement pool.
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