Following the merger of LNM Holdings, which has a 50% stake in steel group Ispat Iscor, with Ispat International to form Mittal Steel Company, Ispat Iscor will be renamed and rebranded Mittal Steel South Africa.
The name change is, however, subject to Ispat Iscor shareholder approval. Ispat Iscor said it expects the name-change process to be completed during the first quarter of 2005.
Mittal Steel will be one of the world’s largest steel companies, with operations in 14 countries, on four continents.
“Mittal Steel intends to create a strong and unified global brand across all the markets in which the company has a presence. This involved definition, through research with a representative range of stakeholders of all types, of precisely what the Mittal Steel brand stands for,” Ispat Iscor said.
“Mittal Steel South Africa will be part of the world’s most global steel company. This will provide us with many benefits, including access to an extensive marketing platform, shared knowledge, technology and aggregated purchasing power.
“We look forward to an exciting future as part of Mittal Steel company,” chief executive of Ispat Iscor Davinder Chugh said. — I-Net Bridge