Russian steelmaker Novolipetsk Steel (NLMK) has worsened its 2017 domestic demand growth forecast to 1-1.5% from 2.5%, CEO Oleg Bagrin reported on June 21 on the sidelines of the Russia Calling business forum. “We expect demand for steel to grow by 1-1.5% in 2017. We adhere to this forecast and so far we have seen…
NLMK has started implementing the program of gradual replacement of heat-exchanging machinery at the heating furnaces No. 3-5 of the 2000 hot-rolling mill. The furnaces are used to heat steel slabs before rolling. To decrease heat losses and the fuel expenses, the air is heated in heat exchanger by gases from the furnace. The replacement…
NLMK Group has started hot-testing the pulverized coal injection (PCI) unit at one of the largest blast furnaces of its Lipetsk plant, namely blast furnace No. 6 with a capacity of 3.1 million tons of pig iron per year. This technology involves co-injecting natural gas and fine coal particles into the blast furnace, resulting in…
The NLMK Group Annual General Meeting was held in Lipetsk on June 2. NLMK shareholders approved the payment of dividends for FY 2016 in the amount of 9.22 rubles per ordinary share. Taking into account the interim dividends paid for January-September 2016 in the amount of 5.84 rubles per ordinary share, the amount outstanding to…
Shareholders of NLMK Group at its Annual General Meeting on June 2 voted to confirm Oleg Bagrin as the Group’s President and Chief Executive Officer; and to elect a new Board of Directors, which includes five independent directors. Nine members of the Board of Directors were elected, including five independent directors: Vladimir Lisin, Oleg Bagrin,…
The newly elected Board of Directors of NLMK Group held its first meeting following the Annual General Shareholders’ Meeting. Vladimir Lisin was re-elected as Chairman of the Board. The Board of Directors approved a schedule of the Board meetings and formed Board Committees. Independent directors comprise the majority on two of the Board Committees. Strategic…
At an Annual General Meeting held on May 31 in St. Petersburg, members of the Russian Steel Association elected the Chairman of the Board of Directors of NLMK Group Vladimir Lisin their new President. Lisin will preside over the Association for the next two years. Anatoly Sedikh, Chairman of the Management Board of OMK, was…
Novolipetsk Iron and Steel Works has produced the 250-millionth ton of hot-rolled metal since its mill 2000 was put into operation in 1969. This volume equals to the weight of 39 Great Pyramids of Giza or 1500 Burj-Khalifas. The first Soviet mill of the third generation – mill 2000 – with the capacity of 5.78…
