Nlmk

The Board of Directors of Novolipetsk Steel, NLMK (LSE: NLMK), the leading Russian steel producer, today recommended an interim dividend in respect of the first six months of 2010 of RUR 0.62 per ordinary share (1 Global Depositary Share = 10 ordinary shares). Payment of the dividend is subject to shareholders’ approval at the Extraordinary General Meeting of NLMK on 30 September 2010. The payment procedure is exercised in accordance with the following cash dividend process: ...

Projects implemented by Novolipetsk Steel (‘NLMK’) in the course of the last 5 years are amongst the Top 50 most innovative projects undertaken by major Russian enterprises, according to research conducted by Mediaholding Expert. The research also includes NLMK in a list of the most innovative Russian companies. The objective of the research was to determine key domestic producers with hands-on experience in implementing innovations. NLMK presented four projects: its ...

Beta Steel, a Portage (Indiana, USA) based steel mini-mill specializing in the production of hot rolled coils, today announces that it is changing its name to “NLMK Indiana” effective from July 27,2 010. The Company’s new name reflects its identity and position within the corporate structure of NLMK Group, to which it belongs since 2008. Paul Fiore, President, said, ”NLMK Indiana has built a solid reputation as a premier supplier of high quality steel products ...

Moody's Investors Service has changed the outlook for NLMK's Ba1 corporate family rating and the outlook on NLMK's Aa1.ru national scale rating to “positive” from “stable”. This rating action reflects the fact that the company continues to demonstrate solid financial results and it maintains conservative financial policy in 2009 in spite of the challenging global environment for steel producers, the agency said in press-release. Moody’s decision has ...

Alexander Buraev has been appointed the new Director of NLMK’s Long Products Division. Previously Mr. Buraev was the Head of Production at Operations Department at Lipetsk site. In his new position, Alexander Buraev will be responsible for the development of the following companies: Nizhne-Serguinsky Steelmaking and Metalware Plant (NSMMZ), Uralsky Plant of Precision Alloys (UZPS), Kaluzhsky Electric Steelmaking Plant (Kaluga mill), Vtorchermet NLMK and some other companies ...

“Innovative Eco-Efficient Industrial Technologies”. The company was awarded a special figurine and diploma for the successful implementation of its “Industrial Water Supply System Upgrade” project. The National Environmental Awards were established in 2003 by the Vernadsky Foundation and the State Duma of the Federal Assembly of the Russian Federation, with the assistance of the Council of Federation of the Federal Assembly of the Russian Federation and the ...

ovolipetsk Steel (LSE: NLMK) announces the results of voting at the Annual General Meeting (AGM) held on 4 June 2010. Shareholders approved the Company’s 2009 annual report, annual financial statements, and allocation of profit, including the dividend payment for the financial year 2009. NLMK’s shareholders approved the total dividend for the financial year 2009 of RUR0.22 per ordinary share. NLMK shareholders elected members to the Board of Directors, the Internal ...

NLMK Group’s ECA-backed loan, which raised EUR524 million to finance the purchase of imported equipment, has won the Trade Finance and Trade & Forfaiting Review magazines’ ‘Deal of the Year’ award. NLMK Group closed the EUR524million facility in December 2009. It was used to finance 19 commercial agreements with 7 leading European engineering companies for the purchase of equipment. The facility, which bears a weighted average interest rate of EURIBOR + ...

On May 14, 2010 NLMK purchased a 100% stake in CJSC Kaluga Electric Steelmaking Plant (KNPEMZ) from LLC Metallurgical Holding (a Maxi-Group subsidiary) for a total consideration of RUR 604.5m. The value of the company’s stake was determined by an independent appraisal. The main objective behind the acquisition is to advance the development strategy of NLMK’s Long Products Division. The acquisition by Novolipetsk Steel, a company with high credit ratings, will create additional ...

Novolipetsk Steel has passed a series of audits conducted by TÜV CERT, the independent German certifying agency. During the audit procedure, TÜV CERT experts examined the Company’s overall Quality Management System confirming its compliance with international standard ISO 9001:2008. They also confirmed NLMK’s Quality Management System in hot-rolling production compliance with the European Council Directive 97/23/EG and Technical Regulations AD 2000 W. In addition, ...

Russia's Novolipetsk Steel has expanded the range of billet to be produced at its new Kaluga steelworks, according to press-service of general contractor Siemens VAI. In addition to the original 8-strand caster to produce 125x125mm billets, additional equipement wll be supplied, enabling it to produce 150x150mm billet, Siemens VAI says. The works in Vorsino is scheduled to start operating in 2011. Kaluzhsky Steel belongs to the Maxi Group, a majority shareholding of the Russian ...

Novolipetsk Steel (NLMK) has commissioned a high-capacity 4 mtpa ladle furnace that will enable the company to produce new steel grades for automotive, white goods and electrical engineering applications, according to press-service of NLMK.  The project is being implemented in cooperation with Siemens VAI (Austria) as part of the second stage of NLMK’s Technical Upgrade Program.  Fully automated process control and up-to-date fume extraction and gas cleaning system ...

Novolipetsk Steel has embarked on the final stage of reconstructing the gas exhaust ducts at BOF Shop No.1 - one of the key ecological projects at its main production site in Lipetsk, reports the press-service of NLMK. The procject is aimed at improving operational reliability and reducing the company’s environmental impact. Advanced technical solutions, including a system for collecting secondary emissions during the charging and tapping processes, will reduce dust emissions by ...

Novolipetsk Steel (LSE: NLMK) Board of Directors took a decision to launch the ruble corporate bond program series 01-06 with a maturity of 10 years. The total value of the program is RUB 50 bn. The Board also approved the decision to issue the bonds and the Prospectus of 01-06 series bond emission, reported the press-service. This new instrument will help NLMK to attract long-term capital to finance its Technical Upgrade Program, as well as other corporate purposes. In late 2009 ...

Standard & Poor’s, the international rating agency, has raised its outlook for NLMK's BBB- corporate rating from “negative” to “stable” and revised its national scale rating from ruAA+ to ruAAA, reported press-service of NLMK. Standard & Poor's also assigned a BBB- priority unsecured debt rating to NLMK’s BO-06 ruble bonds. The bonds issue volume is RUR 10 billion.

Standard & Poor’s, the international rating agency, has raised its outlook for NLMK's BBB- corporate rating from “negative” to “stable” and revised its national scale rating from ruAA+ to ruAAA, reports the press-service of NLMK. Standard & Poor's also assigned a BBB- priority unsecured debt rating to NLMK’s BO-06 ruble bonds. The bonds issue volume is RUR 10 billion.

Installation of the basic structures at Novolipetsk Steel’s new blast furnace #7 of a 3.4 million tonnes annual capacity has been completed. As of today more than 30% of the work has been completed. The furnace’s shell, including its support system, off-gas system, charging device and stove housing, has been installed. In accordance with the construction schedule, installation of bin trestle for ore and coke material intake and feeding, and installation of the refractory ...

Novolipetsk Steel (NLMK), a leading Russian steel producer, has successfully closed a credit agreement to finance the purchase of imported equipment guaranteed by leading export credit agencies. The EUR524million facility will be used to finance the purchase of equipment upon 19 commercial agreements from 7 leading European engineering companies. The facility, which bears a weighted average interest rate of EURIBOR + 1.53, has a maturity of 7 – 10 years. The funds raised by the ...

Novolipetsk Steel has resumed production at its converter #2 after the upgrade of an emission system in the BOF shop #1. The project was completed in 107 days during which 1,500 tonnes of steel structures were installed. Prior to this project, NLMK upgraded its converter #1 and it is planned that in March 2010 the upgrade of converter #3 will begin. Total investments in the BOF shop #1 revamp amounted to RUB6.7 billion. This steelmaking operational upgrade forms part of the ...

Novolipetsk Steel has begun a new environmental protection project at its sinter plant, aiming to reduce the environmental impact of the main production facility in Lipetsk. Environmental pollution will be reduced as a result of the advanced sintering process and the extra equipment implemented for sintered layer treatment. The equipment for all four machines will reduce the sinter plant’s carbon monoxide emissions by 10%. In accordance with NLMK’s policy to control ...