It was formed in 1978 as the international arm of Ispat Industries in Surabaya, Indonesia by Lakshmi Mittal, but became a separate company in 1995, has become one of the biggest steel companies in the world.
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It was formed when Ispat International N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi Mittal) and merged with International Steel Group Inc. (the remnants of Bethlehem Steel, Republic Steel and LTV Steel) in 2004.
About 127 workers/managers are employed by Ispat International, a Soviet era steel plant which was taken over by the NRI businessman Shri L.N. Mittal.