At a meeting held on February 12, NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q4 2019 dividend of 5.16 rubles per share. Taking into account dividends accrued in Q1-Q3 2019, 2019 dividends will total 19.4 rubles per share, which is approximately 120% of NLMK Group’s free cash flow for the relevant…
Russian steelmaker Novolipetsk Steel expects its facilities at the Lipetsk site to raise steel production quarter-on-quarter in January-March to maintain year ago levels, the company said in a statement on February 12. “We expect to increase steel manufacturing at the Lipetsk site to the level of the same period of the previous year as capital…
NLMK Lipetsk, the flagship site of NLMK Group, has embarked on piloting an automated production-scheduling system. The system is integrated into business processes at all stages of production and sales planning. The key goals of the project are to optimize the production load and to grow output, and to improve the quality of customer service.…
Russian steelmaker Novolipetsk Steel (NLMK) expects its capital expenditures to exceed $900 million in 2020 with the exact figure to be clear in March, NLMK President Grigory Fedorishin announced on January 23 on the sidelines of the World Economic Forum. He confirmed the earlier plan of $1 billion in 2019 and about $900 million per…
NLMK Metalware, a leading fastener manufacturer in Russia, has launched a new production line with a capacity of 3,400 tons of self-tapping screws per year. The launch of the new facility will enable the company to expand its presence in the Russian fastener market, primarily through import replacement. NLMK Metalware has been manufacturing self-tapping screws…
NLMK Group has amended the terms for its EUR 250-million revolving credit facility. The financing costs of the facility will now be linked to the company’s sustainability performance that will be assessed by Sustainalytics, a provider of environmental, social and corporate governance research and ratings. The ESG rating change will result in the adjustment of…
NLMK Group has published its Q4 2019 and 2019 operating results. In 2019, steel output decreased by 10% YoY, to 15.7 million tons, due to major repairs at NLMK Lipetsk blast furnace and steelmaking operations. Sales volumes decreased to 17.1 million tons, or by 3%, following the decrease in output. Sales to “home” markets grew…
NLMK Lipetsk, the flagship site of NLMK Group, has delivered a pilot batch of galvanized bake hardening (BH) steel to the Uzbekistan-Korean joint venture UzSungwoo. The pilot batch of steel was custom-made to meet the customer’s individual requirements. It was used to make General Motors internal car body parts, which contributed to vehicle safety. Tests…
