Russia: NLMK steel output down in Q2 2019

Russian steelmaker Novolipetsk Steel (NLMK) reduced its production of steel by 5% QoQ, to 3.992 million tons in April-June because of overhaul works at the blast furnace and basic oxygen furnace facilities, the company said in a statement on July 15. Loading fell to 96% from 98%, and consolidated sales shrank by 7%, to 5.268…

Russia: NLMK Corporate University joins EFMD association

The Corporate University of NLMK Group, a global steel company, has become a member of the European Foundation for Management Development (EFMD), a leading international association. This not-for-profit membership organization brings together leading business schools and companies committed to developing management systems. EFMD offers accreditation services to business schools, corporate universities, and training programs, and…

Russia: NLMK Group Intranet among the world’s best

NLMK Group, a global steel company, has won a Silver award at the international Step Two Intranet and Digital Workplace Awards 2019 for the launch of its Intranet portal, which extends to all employees, promotes automation of business processes and enhances personnel engagement. The jury honored the main achievement of the NLMK project: the company…

Russia: NLMK shareholders approve Q1 2019 dividends

At the Extraordinary General Shareholders’ Meeting (EGM) held on June 7, NLMK shareholders approved the payment of Q1 dividends of 7.34 rubles per share, or 100% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. The date upon which the shareholders entitled to Q1 dividends will be…

Russia: NLMK capitalization overtakes AM’s

On June 4, NLMK for the first time outran the largest ferrous metals company in the world – ArcelorMittal – by capitalization. At the closing of the LME trade, NLMK was estimated at $15.88 billion. The capitalization of AM at the NYSE was $15.7 billion. At the same time in 2018 ArcelorMittal produced 92.5 million…

Russia: NLMK steel output to fall in 2019

Russian steelmaker Novolipetsk Steel (NLMK) plans to reduce steel production to about 16 million tons in 2019 from 17.493 million tons in 2018, President Grigory Fedorishin announced. “The amount of steel production will fall at the Lipetsk facility because a big blast furnace and a big converter will shut down for repairs. We intentionally united…

Russia: NLMK places $500-million 7-year Eurobonds

NLMK announced the placement of 7-year $500-million Eurobonds with an annual coupon rate of 4.7% payable semi-annually. The proceeds will be used for general corporate purposes. The issue was oversubscribed more than three-fold with the order book exceeding $1.7 billion at the peak and more than 150 investors. The final order book was subscribed by…

Russia: NLMK, Ministry of Natural Resources, Federal Supervisory Natural Resources Management Service and Lipetsk region sign cooperation agreement

NLMK Group, the Ministry of Natural Resources and the Environment of the Russian Federation, the Federal Supervisory Natural Resources Management Service (Rosprirodnadzor) and the Administration of the Lipetsk region have signed a four-way Cooperation Agreement in sustainable development. The Agreement, which forms part of the National Ecology Project, was signed by Grigory Fedorishin, NLMK Group…

Russia: NLMK Group launches new by-product fuelled facility

NLMK Group has started hot testing at its briquetting plant, a facility to manufacture metallurgical briquettes for use in blast furnace operations. The project will enable the production of feedstock from blast furnace by-products, and the recycling of previously accumulated waste. The production technology is NLMK’s in-house development. It was conceptualized by Ivan Kurunov, an…

Russia: NLMK starts repairing Rossiyanka BF

NLMK has started the scheduled repairs of the blast furnace No. 7 “Rossiyanka”. The repair will last for 14 days. It will improve the blast furnace efficiency and let NLMK start another of the Strategy 2022 projects – the reconstruction of the blast furnace No. 6. The preparation for the repair lasted for 7 months.…

Russia: NLMK shareholders approve FY2018 dividends

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders approved the payment of FY2018 dividends of 22.81 rubles per share, or 102% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. Considering the previously paid interim dividends, the amount outstanding to be paid…

Russia: NLMK shareholders elect new BoD

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders voted to confirm Grigory Fedorishin as the group’s President and Chief Executive Officer; and to elect a new Board of Directors, with a majority of independent directors (five seats out of nine). Nine members of the Board of Directors were elected: Vladimir…

Russia: NLMK chooses 10 startup projects

NLMK participated in the Skolkovo Startup demo-day in Lipetsk as part of the Open Innovations Startup Tour. The tour aims at finding new promising projects. At the preliminary stage NLMK representatives have reviewed 40 projects in the sphere of metallurgy, energy, repair and HR. Leaders of the best projects have been invited to Lipetsk. In…

Russia: NLMK to keep rebars market share

In 2018 NLMK Bars Division increased sales by 11% YoY. Demand growth was expected at 1-2%, but actually totaled 5.6%. The group enterprises supplied 1.8 million tons of rebars and 763 thousand tons of steel billets to the domestic market. This year NLMK Bars Division intends to retain its share of the rebars market on…