Mittal Steel establishes Scholars Program at Kellogg
US $3 million commitment launches scholarship program with focus on emerging markets
11/1/2005 - Evanston, Ill. – Mittal Steel Company (“Mittal Steel”), the world's largest steel company, and the Kellogg School of Management at Northwestern University (“Kellogg School”), today announce that Mittal Steel has named the Kellogg School as its North American management education partner with an initial commitment of US$3 million. This commitment includes the development and launch of the Kellogg Mittal Scholars Program, which will commence in fall 2006.
The Mittal Scholars Program will provide 20 scholarships for qualifying Kellogg School MBA students from the full-time and EMBA programs each year for an initial three-year term. The Scholars program has been designed to reflect Mittal Steel's strong business profile in the emerging markets. Specifically, successful students will either be from emerging economic regions such as Africa, Asia, Central and Eastern Europe or South America or will have a stated interest in these regions. Admitted Kellogg School students who fulfill these criteria will be eligible to be considered for the Mittal Scholars Program. In conjunction with the Scholars Program, Mittal Steel has also dedicated funds for Mittal executive participants in the Kellogg School's Executive Education Programs.
Commenting, Mr. Lakshmi N. Mittal, Chairman and CEO, Mittal Steel Company, said:
“I am delighted to announce that we have chosen the Kellogg School to be our partner for the Mittal Scholars Program. This is a unique program as it is principally aimed at attracting students either from emerging market countries or those who have an interest in the emerging markets, who may otherwise not have had the opportunity to study at Kellogg.
“Emerging market economies are playing an increasingly important role in the global economy. We have all witnessed the extraordinary growth from China over the past couple of years, but there are many other countries with good growth prospects, including Eastern Europe, South America and India. These countries offer exciting opportunities for many industries, including steel. Indeed Mittal Steel is already operating facilities in a number of these markets and this new initiative is part of a broad CSR program we have put in place across these countries.”
“The aim of the Scholars program is to both help accelerate the careers of talented individuals from these countries and also encourage a broader interest in these growing markets from students from the more developed markets. It is our intention to also offer the Mittal Scholars the chance of an internship at Mittal Steel during their time at the school.
“Kellogg was a natural school for us to partner with. It has consistently been ranked the top global business school and of course is situated in Chicago, the headquarters of Mittal Steel USA. Dean Dipak Jain had already been introducing a number of initiatives to attract more students from these growth markets, and I am delighted that our scholars program is able to complement his efforts in this field.”
Dipak C. Jain, dean of the Kellogg School of Management, commented:
“Management education today mirrors the constantly evolving, and often times challenging, global economic environment in which corporations operate worldwide. The Kellogg School cultivates leaders who can anticipate and understand the needs of the 21 st century marketplace.”
“The Mittal Scholars Program provides a foundation for Kellogg students specifically interested in the emerging markets, and will ultimately help to prepare them for management in an environment that is rich with opportunity.”
About Mittal Steel Company
Mittal Steel Company is the world's largest and most global steel company. The company has operations in fourteen countries, on four continents. Mittal Steel encompasses all aspects of modern steelmaking, to produce a comprehensive portfolio of both flat and long steel products to meet a wide range of customer needs. It serves all the major steel consuming sectors, including automotive, appliance, machinery and construction.
Mittal Steel has a strong profile in emerging market economies, with operations in Poland, Czech Republic, Romania, Bosnia, Macedonia, Kazakhstan, South Africa and Mexico. The company also recently announced its first investment in China and is expected to complete this transaction shortly.
For 2004, Mittal Steel had revenues of US$22.2 billion and steel shipments of 42.1 million tons. The company trades on the New York Stock Exchange and the Euronext Amsterdam under the ticker symbol “MT”.
About the Kellogg School of Management at Northwestern University
The Kellogg School of Management at Northwestern University was founded in 1908 and is home to a renowned research-based faculty and MBA students from around the globe. The Kellogg School includes the Full-time, Part-time and Executive MBA programs and the non-degreed Executive Education Program. The school offers three joint degree programs: the JD-MBA, MD-MBA and MEM-MBA. Additionally, the Kellogg School of Management has alliances with business schools in Europe, Asia and Canada. The Kellogg School has been ranked the number one graduate school of business in the United States by BusinessWeek a record five times since the biennial survey began in 1988.
For more information please contact the Kellogg School Admissions office at MBAadmissions@kellogg.northwestern.edu.