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August 21, 2013

The matriarch of one of Australia’s wealthiest families has passed away in her hometown of Melbourne.

The matriarch of one of Australia’s wealthiest families has passed away in her hometown of Melbourne.

May 25, 2011

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

In a statement on 24 May, the Luxembourg-based steel group said that Aditya, who currently leads operations in the Americas, will take over running the European unit—the company’s biggest but with the lowest earnings.

May 12, 2011

Lakshmi Mittal, chairman and chief executive of steel company ArcelorMittal, will be buoyed by his company’s results, which saw a 67% rise in net profits for the first quarter.

Lakshmi Mittal, chairman and chief executive of steel company ArcelorMittal, will be buoyed by his company’s results, which saw a 67% rise in net profits for the first quarter.

The Luxembourg-based group said on 11 May that its net profits rose to $1.1 billion compared to $640 million for the same period last year. The world’s biggest steelmaker’s sales too rose by around 27% to $22.2 billion.

January 29, 2010

The Schnitzer family, which has controlled the US-based Schnitzer Steel Industries since 1906, has dropped below the 20% stock ownership level required to keep control of the company.

The Schnitzer family, which has controlled the US-based Schnitzer Steel Industries since 1906, has dropped below the 20% stock ownership level required to keep control of the company.

A family spokesman told a local Oregon newspaper that the family's reasons for selling included "financial planning, estate planning, funding other investments."
 

February 13, 2008

Lakshmi Mittal, CEO of ArcelorMittal, has netted almost $2 billion as the steel giant announced record results in its first full year as a joint company.

Lakshmi Mittal, CEO of ArcelorMittal, has netted almost $2 billion as the steel giant announced record results in its first full year as a joint company. Net income soared 30% to $10.5 billion and sales grew to $105 billion – up from $88 billion the previous year.

The firm also announced that $4.4 billion would be returned to shareholders and with a 43% stake in the company, Mittal is set to earn $1.9 billion.

January 15, 2008

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives.

An accident that has occurred at a mine belonging to family-owned steel giant ArcelorMittal has claimed 30 lives. The firm announced in a statement that the accident, which happened last week, took place at its Abaiskaya mine in Kazakhstan.

Lakshmi Mittal (pictured), CEO and president, has expressed his sincerest condolences to the families and loved ones of the victims and has  travelled to the country to offer his personal support.

January 1, 2008

Usha Martin Group is a diversified entity active in mining, steel production, and the manufacture of wire ropes. But as Prashant Jhawar, vice chairman of UMG, explains, the family’s ownership of a regional newspaper has also been vital for the business…

Usha Martin Group is a diversified entity active in mining, steel production, and the manufacture of wire ropes (click here to read more). But as Prashant Jhawar, vice chairman of UMG, explains, the family's ownership of a regional newspaper has also been vital for the business…

January 1, 2008

Third-generation Prashant Jhawar talks to Marc Smith about the reasons for taking India-based steel manufacturer Usha Martin global, relationships with the Tata and Birla dynasties, and the gunfight that inspired the firm’s CSR vehicle

Third-generation Prashant Jhawar talks to Marc Smith about the reasons for taking India-based steel manufacturer Usha Martin global, relationships with the Tata and Birla dynasties, and the gunfight that inspired the firm's CSR vehicle

March 1, 2006

Behind the dazzling smiles of Lakshmi Mittal and his heir apparent Aditya is a grim determination to become the biggest steel producer in the world. Whether Arcelor and the French business community are to be persuaded has yet to be seen. Melanie Stern reports

Melanie Stern is section editor of Families in Business.

Behind the dazzling smiles of Lakshmi Mittal and his heir apparent Aditya is a grim determination to become the biggest steel producer in the world. Whether Arcelor and the French business community are to be persuaded has yet to be seen. Melanie Stern reports

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