Archive · 18 Jul 2026
Lakshmi Mittal's Quote on Global Steel Consolidation
Lakshmi Mittal is a very rich businessman known as the 'King of Steel'.
He is the boss of ArcelorMittal, the biggest steel company in the world.
In 2005, he said that combining steel companies from different countries was working well and making more money.
This was after his company bought a big steel mill in Ukraine.
He was right, and later he even bought a big European steel company, making his company even bigger.
He is so successful that he is one of the richest people in the world and has won big awards in India.
Lakshmi Mittal, Executive Chairman of ArcelorMittal, made a quote about global steel consolidation in 2005.
He said this during a quarterly earnings presentation after acquiring Ukraine's largest steel mill.
Mittal's strategy involved merging steel companies across different countries to stabilize the business.
This strategy proved successful, leading to a $33 billion merger with Arcelor in 2006.
Mittal is known as the 'King of Steel' and is one of the richest people in the world.
- Who
- Lakshmi Mittal, Executive Chairman of ArcelorMittal
- What
- Quote about global steel consolidation
- When
- November 9, 2005
- Where
- During a quarterly earnings presentation for Mittal Steel Company
- Why
- To announce the success of his global consolidation strategy
- Name
- Lakshmi Mittal
- Birthdate
- June 15, 1950
- Birthplace
- Rajasthan, India
- Company
- ArcelorMittal
- Net Worth (Forbes)
- $28.4 billion (as of May 2026)
- Net Worth (Bloomberg)
- $31 billion (as of 2025)
- Award
- Padma Vibhushan (2008)
- Quote Date
- November 9, 2005