It was formed in 1978 as the international arm of Ispat Industries in Sidoarjo, Indonesia by Lakshmi Mittal. It became a separate company in 1995, made it one of the largest steel companies in the world. In 2004 it merged with LNM Group (another major steel company owned by Lakshmi Mittal) and International Steel Group (one of the largest steel companies in North America) to form Mittal Steel Company.