Nlmk. August

NLMK is proud to announce the launch of hot testing at its new 3.4 million tpa Blast Furnace No. 7 (BF-7). Today NLMK completed the burden and fuel charging operations. Air heated to 800 0C is blown into the furnace to prepare proper temperature conditions for iron smelting; later, blast temperature will further be increased to 1250 0C. The first ton of pig iron will be produced in September. NLMK’s BF-7 is the first blast furnace to be built in Russia in the last 25 years, ...

NLMK will increase its use of by-product fuel gases from metallurgical processes at the main site in Lipetsk (Novolipetsk) by the end of the year. Average annual electric energy generation using coke and blast furnace gases is currently at the level of c. 190 MW, or over half of Novolipetsk’s in-house energy capacity. Following the commissioning of the new Recovery Co-generation Plant, Novolipetsk will be able to utilize all the BF gas from its operations.As a result, ...

The Moscow City Arbitration Court issued a ruling declaring bankrupt and initiating bankruptcy procedures against Maxi-Group. This decision was based on a report prepared by E. Ryndenko, the external administrator, following an external observation procedure introduced by the court on February 18, 2011. This report confirmed the estimation given by NLMK, as well as by the independent international appraisals firms, PWC and American Appraisal, supporting arguments in favor of ...

NLMK, announces its consolidated US GAAP results for Q2 and H1 2011. NLMK delivered a significantly improved financial and operational performance in Q2 2011, confirming its status as one of the most efficient global steelmakers. Sales revenue rose by 26% to $2.98 billion on the back of larger sales and improved pricing environment. Positive market sentiment and moderate cost increase pushed up NLMK Group’s EBITDA by 43% to $837 million. The EBITDA margin improved 3 p.p. to ...

Stoilensky (an NLMK affiliate) has signed a contract with the Siemens VAI/Outotec consortium for the design and supply of required equipment and technologies, as well as the rendering of other services related to the construction of a Pelletizing Plant at Stoilensky with a capacity of 6 mtpy of iron ore pellets. The project is part of the Group’s strategy targeted at strengthening vertical integration and is being executed as part of Stage 3 of NLMK’s Technical Upgrade ...

NLMK has successfully closed a credit agreement for a total of EUR93 million with a maturity of 10 years. The facility will be used to finance NLMK Group’s capex program, notably to complete the construction of its Kaluga Mini-Mill, which is part of the Group’s Long Steel Division. The credit will be backed by Hermes, the German ECA, and SACE, the Italian ECA, with Société Générale acting as arranger and Hermes agent, and Deutsche Bank acting as ...

NLMK’s Meeting of the Board of Directors, held on August 15, 2011, resolved to convene an Extraordinary General Meeting of Shareholders (EGM) in the form of absentee voting. The deadline for the receipt of voting ballots was fixed at September 29, 2011. The following agenda was adopted: 1. Payment (declaration) of dividends for H1 2011 on ordinary issued shares; 2. Approval of new versions of NLMK’s internals documents. The Board of Directors has recommended ...

NLMK Group companies, Novolipetsk and Altai-Koks, have duly completed notification procedures in accordance with the newly adopted Turkish legislation on control over chemicals. A notification file for the Group’s products, namely pig iron and ammonia sulfate, was prepared similar to European Union REACH regulations. All documentation was submitted to the Turkish Ministry of Environment and Forestry in March 2011. The filing has enabled NLMK Group companies to continue ...

NLMK has signed a EUR10.4 million contract with LOI Thermprocess GmbH, Germany, for 23 bell type annealing furnaces with an aggregate capacity of 480 ktpy to anneal low-carbon coils at the Group’s main site in Lipetsk. This project is part of the Company’s plan to increase finished product output as part of Stage II of NLMK’s Technical Upgrade Program. The new furnaces will replace 30 obsolete inefficient ones. The high speed of heating and cooling in a hydrogen ...

Following the acquisition of the rolling business of Steel Invest and Finance (formerly a joint venture between NLMK and Duferco Group) on July 1, 2011, NLMK announces the creation of its new business divisions - NLMK Europe and NLMK USA. NLMK is also pleased to announce the new management structure of its international operations. Mr Horacio Malfatto, formerly Chief Executive Officer of Steel Invest and Finance, has been appointed Chief Executive Officer of NLMK Europe. NLMK Europe ...

The Electric Arc Furnace (“EAF”) halted as a result of the incident is expected to be brought back online in December 2011. The negative impact of the incident on the Long Steel Division’ billets output is estimated at 450,000 t in 2011. The unit started third-party billet purchases that are expected to bring the loss in finished long products output to minimum. According to preliminary estimates the equipment stoppage may result in 7% decline in the sales revenue ...