Again, in 1995 itself, he moved HQ to London and entered Kazakhstan market. In 1996, he bought Irish Steel and in 1997, Ispat International floated. However, as losses topped 750,000 punts a month the Irish Steel plant was closed in 2001. In the same year, he bought Sidex plant, Romania. One major key factor for his growth is that he consciously avoided scourging iron from higher cost scrap sources favored by rivals. Another key factor has been the championing of small steel mills – a strategy followed by him since his days as a steel magnate elect in 1970’s in India. His merger with Arcelor in 2006 made Arcelor Mittal the world’s largest producer of steel with assets in France, Belgium, Romania, Bosnia-Herzegovina, South Africa, Poland, Czech Republic, Indonesia, Kazakhstan, Canada, Bulgaria, US, Trinidad, Brazil, and Mexico. Mittal has deserving been awarded many awards from the ‘steelmaker of the Year – New Steel’ in 1996; ‘Willy Korf Steel Vision Award – American Metal market & PaineWebber's World Steel Dynamics’ in 1998; ‘European Businessman of the Year’ by Fortune Magazine in 2004; ‘Person of the Year’ by Financial Times in 2006; ‘Bessemer Gold Medal’ in 2007; the prestigious ‘Padma Vibhushan’ in 2008 to name a few. Lakshmi Niwas Mittal.
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