The Turnaround of Ispat Karmet

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Case Details:

Case Code : BSTA005
Case Length : 11 Pages
Period : 1994 - 2004
Pub Date : 2005
Teaching Note :Not Available
Organization : Karaganda Metallurgical Complex (Karmet)
Industry : Steel
Countries : Kazakhstan

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

The Karmet Acquisition

Karaganda Metallurgical Complex (Karmet), a 6-million-ton/year integrated steel plant employing more than 30,000 people, was Ispat's first major opportunity in the erstwhile Soviet Union. Timertau, a crumbling town in the heart of Kazakhstan's Karaganda region, once held an important place in the USSR steel industry...

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The Turnaround

Prior to Ispat's arrival on the scene, Karmet was managed by a group of Western companies, including a division of USX Corp. The previous managers of Karmet reportedly had made little headway in turning the plant around...

Looking Ahead

The success at turning around Karmet had given Ispat plenty of confidence. If a plant in such dire conditions as Karmet could be turned around, why could it not be repeated in other locations around the globe? By 2003, Ispat was the largest steel producer in Eastern Europe with facilities in Kazakhstan, Poland, Czech Republic, Bosnia, and Romania...

Exhibits

Exhibit 1: Mittal Steel
Exhibit 2: Global steel companies (market capitalization)
Exhibit 3: Ispat International Financial Highlights, 1992-97
Exhibit 4: CIL Facilities
Exhibit 5: Twenty years from Indonesia to Ireland
Exhibit 6: Lost-time injuries for employees of Caribbean Ispat Ltd.
Exhibit 7: Ispat's Financials
Exhibit 8: Ispat Karmet's Facilities

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