Di Sepanjang, Sidoarjo-Jatim ada pabrik besi baja PT
Ispat Indo yang menghasilkan low carbon billets dan
batangan baja yang bahan dasarnya besi tua (scrap) dan
pig iron. Scrap itu dipasok oleh orang Madura. Pabrik
ini penghasil utama wire rods di Indonesia dan pangsa
pasarnya lumayan. Tapi ini hanya sebagian kecil dari
pabrik besi-baja L.N. Mittal yang mendunia. Imigran
India warganegara Inggris ini adalah orang terkaya di
Inggris, yang kekayaannya ditaksir $22 billion.
Salam,
RM
---------------------------------------
Newsmaker: LN Mittal
Metal magnate
Paran Balakrishnan / New Delhi October 30, 2004
L N Mittal
LN Mittal,
Chairman & CEO, LNM Group
It's a neat three-in-one for steelmaker extraordinaire
Lakshmi Mittal. In one fell swoop he has become the
globe�s biggest steelmaker � an Andrew Carnegie for
the 21st century.
Simultaneously, he also becomes the richest man in
Britain and the wealthiest Indian on the planet. His
fortune is now reckoned to be worth around �12 billion
($22 billion). His immense wealth was boosted this
week when he paid himself a gigantic $2 billion bonus.
One year ago Business Standard predicted (Weekend,
September 23, 2003) that it was only a matter of time
before Mittal seized the crown and became the global
King of Steel. We reckoned Mittal would climb to the
top by March, soon after integrating state-owned
steelmaker Polskie Huty Stali into his far-flung
empire.
In the event, Mittal�s ascension to the No 1 top spot
took a bit longer. But he accomplished it with
breathtaking panache by pulling off a deal that puts
him streets ahead of his competitors. He now makes 70
million tonnes of steel compared to Arcelor, the
industry leader till this week, which makes about 44
million tonnes.
Always remember that India produces about 33 million
tonnes of steel. Arcelor greeted Mittal�s coup by
saying it would help industry consolidation.
It�s no surprise that Mittal has sprinted ahead of his
competitors. After all, he has been playing this game
since the early 1990s when he bought a failing plant
in Trinidad & Tobago. By contrast his imitators like
Arcelor, US Steel and even his new partner Wilbur Ross
of ISG realised the potential of the rust-ridden
industry only three or four years ago.
It was during the early 1990s that Mittal laid the
foundations of his global empire. Most importantly, he
elbowed out the competition and scooped up a state-run
Mexican mill that had plunged into heavy losses in
just a decade. The deal was an extremely favourable
one for him and the plant was the group�s moneyspinner
throughout the decade.
In 1995, he startled the steel industry by snapping up
a decrepit plant in Karmet, Khazakhstan, which most
global companies refused to touch with a bargepole. It
was easy to understand why everyone else steered clear
of the ailing Karmet plant.
Mittal ended up as the owner of the steel town�s tram
service and even the KGB office. Many concluded that
Mittal had blundered. They didn�t realise that Karmet
was only a few hundred miles from the Chinese border
and that China would in a few years be the world�s
powerhouse dictating the fortunes of the steel
industry.
But Mittal was still a long way from global dominance.
By the turn of the century it was belt-tightening time
at the LNM Group. Steel prices were falling and there
was no sign of an industry turnaround. Mittal�s
efforts to jump on the hi-tech bandwagon by starting
an online exchange for the steel industry wasn�t a
mouse-clicking hit and had to be shut down.
Nevertheless, he didn�t falter. In 2000, the LNM Group
produced about 16 million tonnes of steel. During the
next few years, Mittal turned his attention to the
one-time Communist states of eastern and central
Europe and began a spate of buyouts.
Did Mittal simply buy anything that came on the market
or did he work to a gameplan? Perhaps it was a bit of
both. But the end result is that he�s geographically
well positioned. The EU enlargement means that many of
his mills in places like Poland, the Czech Republic
and Romania will be able to sell at preferential rates
to western Europe. He will, in fact, be able to sell
about 15 million tonnes in the region by 2007.
Also, he�s now in a strong position in North America
with five plants in the US, one in Mexico, another in
Canada and one in Trinidad & Tobago. Altogether, it�s
reckoned that Mittal now controls about one-tenth of
the world�s steel production.
Nevertheless, there will still be a tough road ahead.
Size isn�t everything and there are new competitors
who have suddenly decided that there�s big money to be
made in steel.
Then, there are competitors like Korean giant Pohang
Steel which has come roaring back after going bankrupt
a few years ago. Pohang has patented a process which
allows it to make steel cheaper than anyone else in
the industry.
More importantly, when steel prices fall from their
current highs Mittal could find himself in a tough
spot once again. The margins at some plants are still
narrow and his listed company Ispat International
performed poorly last year. This year, steel prices
have soared and so have profits. Mittal must stay
ahead when times once again get tough.
------------------------ Yahoo! Groups Sponsor --------------------~-->
$9.95 domain names from Yahoo!. Register anything.
http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/BRUplB/TM
--------------------------------------------------------------------~->
***************************************************************************
Berdikusi dg Santun & Elegan, dg Semangat Persahabatan. Menuju Indonesia yg
Lebih Baik, in Commonality & Shared Destiny. www.ppi-india.uni.cc
***************************************************************************
__________________________________________________________________________
Mohon Perhatian:
1. Harap tdk. memposting/reply yg menyinggung SARA (kecuali sbg otokritik)
2. Pesan yg akan direply harap dihapus, kecuali yg akan dikomentari.
3. Lihat arsip sebelumnya, www.ppi-india.da.ru;
4. Posting: [EMAIL PROTECTED]
5. Satu email perhari: [EMAIL PROTECTED]
6. No-email/web only: [EMAIL PROTECTED]
7. kembali menerima email: [EMAIL PROTECTED]
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/ppiindia/
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
