Mittal, Lakshmi Narayan

Mittal, Lakshmi Narayan, 1950–, Indian steel tycoon. He worked at his father's small Kolkata (Calcutta) steel mill before he bought (1976) a mill in Indonesia and began to build his steel empire. He achieved success by buying unprofitable and unwanted mills around the world, dispatching management teams to reorganize them, and integrating them into an efficient, competitive global conglomerate. With his company's 2006 takeover of Luxembourg-based Arcelor, then Europe's largest steel company, Mittal creatied ArcelorMittal, the world's largest steel producer. The London-based magnate is now ranked among the world's wealthiest individuals.

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