History of NLMK
NLMK is a vertically integrated steel company with the assets spanning from upstream operations through to downstream niche product areas. Producing ~17 million tonnes of crude steel, NLMK ranked as the #16 steelmaker in the world in 2016.
The timeline below covers the history of the firm.
- 1931: Construction of iron & steel plant began at Lipetsk.
- 1934: Production starts of pig iron at Novolipetsk Works.
- 1941: BF & power plant dismantled; evacuated to Chelyabinsk.
- 1947: Post-war reconstruction of Lipetsk plant.
- 1957: Commissioning of EAF steel shop with continuous casting.
- 1966: BOF & continuous casting used together at Lipetsk.
- 1983: Novolipetsk Iron & Steel Works renamed Novolipetsk Steel.
- 1991: Russia's first organic coating line commissioned at NLMK.
- 1992: NLMK is transformed into an open joint stock company.
- 1993: Privatisation of NLMK begins - employee ownership.
- 1997: Acquisition of OJSC Dolomit - dolomite processing.
- 1998: Vladimir Lisin becomes Chairman of the Board.
- 1999: Purchase of OJSC Stagdok, miner & processor of limestone.
- 2001: Commissioning of NLMK continuous hot dip galvanising line.
- 2004: Acquisition of Stoilensky GOK iron ore business.
- 2005: NLMK acquires license to develop Zhernovskoe-1 coal deposit.
- 2005: Successful listing on the London Stock Exchange.
- 2006: NLMK acquires DanSteel - Danish producer of thick plate.
- 2006: Purchase of entire share capital of Prokoyevskugol Coal.
- 2006: Buys Altai-koks [for 100% self-sufficiency in coke].
- 2006: NLMK acquires VIZ-Stal (electrical steel production).
- 2006: Creation of NLMK / Duferco Group joint venture.
- 2007: Acquisition by NLMK/Duferco JV of Sharon Coating in USA.
- 2007: NLMK acquires ~50% share in Maxi-Group.
- 2008: Purchase of Beta Steel - US-based manufacturer of HRC.
- 2009: Reorganisation and creation of NLMK Long Products subsidiary.
- 2011: Acqn of National Laminations: Indian electrical steel SSC.
- 2011: NLMK buys out Duferco steel joint venture for $600 million.
- 2012: NLMK Commissions new generation blast furnace #7.
- 2012: New 75kt/year cold rolling mill commissioned at VIZ-Stal.
- 2013: New 1.5 mt mini-mill opens at Kaluga, near Moscow.
- 2013: NLMK installs PCI at its blast furnaces at Novolipetsk.
- 2014: Cancels plan to raise $400m loan, as capex falls.
- 2015: Opens call centre for domestic and international clients.
- 2015: Commences work on new hot dip galvanising line [HDG-5] at Novolipetsk.
- 2016: Construction of Stoilensky 6 mt/year pelletizing plant.
Notes
- Lipetsk plant was the first in the world in 1957 to adopt 100% continuous casting technology.
- Up until December 1992, NLMK was a State-owned enterprise.
- Purchase by NLMK in 2004 of Stoilensky GOK ensured the Company’s 100% self-sufficiency in iron ore.
- 2011 deal to purchase a 50% interest in Steel Invest and Finance ('SIF') from Duferco Group resulted in SIF becoming a 100% owned subsidiary of NLMK.
- New 3.4 mtpy blast furnace #7 commissioned in July 2012 at a project cost of RUR 43 billion was the first blast furnace to have been built in Russia for 25 years.
- VIZ-Stal is NLMK's electrical steel production plant, based in Yekaterinburg, Russia.
- 2014: NLMK cancelled its request for a syndicated loan of around $400 million after cutting its capital expenditure plans as EU and US sanctions against Russia started to bite, according to bankers' comments made in mid-2014.
- 2016: It took approx. 2 years to build the high-tech pellet plant facility at Stoilensky (Stary Oskol, in the Belgorod region). Work began in 2014 and required a total investment of ~$680 million (or 34 bn rubles). The new 6 mt/year pellet plant will enable NLMK Group to minimize its dependence on third-party pellet suppliers and will significantly reduce the cost of raw materials for the Lipetsk blast furnace operations.
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