Ispat International: Consolidating European Operations

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Case Details:

Case Code : BSTA134
Case Length : 12 Pages
Period : -
Organization : -
Pub Date : 2005
Teaching Note :Not Available
Countries : -
Industry : -

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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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Introduction

In 1999, Ispat International with an annual steel production of 17 million tons was one of the largest steel producers in the world. With its steel shipments growing at a compounded annual rate of 48 % since 1990, Ispat was the fastest growing steelmaker in the world. With eight vertically integrated steelmaking operations in seven countries, Ispat International was also the world's most global steel company. Having successfully turned around several loss-making steel plants around the globe, Ispat International CEO, L N Mittal (Mittal), had developed a formidable reputation as a 'turnaround specialist'.

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One of Mittal's ambitions was to become the leading steel producer in Europe and dominate the market for high-quality wire rods, extensively used for automotive manufacturing and other sophisticated applications. In 1994, Mittal acquired Hamburger Stahlwerke (HSW) in Germany from the Hamburg government. Soon after, Mittal acquired Irish Steel in 1995 and, Stahlwerk Ruhrort and Walzdraht Hochfeld, two long-products mills in Germany from Thyssen Krupp in 1998. Mittal further consolidated his steel empire in Western Europe by acquiring France based Unimetal Group from Usinor in 1999. With this acquisition, Ispat became Europe's largest producer of high quality wire rods...

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