Novolipetsk Steel
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| Novolipetsk Steel | |
| Type | Public |
|---|---|
| Founded | September 24, 1993 |
| Headquarters |  Lipetsk |
| Key people | Vladimir Lisin, Majority Owner Mr Alexey Lapshin, President and Chairman of the Management Board |
| Industry | Steel |
| Products | Steel Steel products |
| Revenue | ~ US$4.5 bn (2005) |
| Employees | ~70,000 |
| Slogan | N/A |
| Website | http://www.nlmksteel.com/ |
Novolipetsk Steel, or NLMK, is one of the four largest steel firms in Russia with sales of more than US$4.5 billion in 2004. It is majority owned by Vladimir Lisin, one of Russia's richest men.
In December 2005 the company floated on the London Stock Exchange (LSE: NLMK).
NLMK is headquartered in the city of Lipetsk, 500 km southeast of Moscow.
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[edit] History
Historically, the Lipetsk area in central Russia has substantial iron ore deposits. In 1702, Peter the Great ordered the construction of an iron foundry there.
In 1931, Novolipetsk Iron and Steel began construction of a plant on the site of the iron ore mine. Prospering down through the decades, Novolipetsk became a joint stock company in 1992 and then in 1993 began the process of privatization by distributing company shares to its employees. The company seems to be acquisitive; see list of Related organizations. In 1998, Vladimir Lisin became the chairman. The manufacturing site in Lipetsk covers 27 square kilometers.
Less than half of NLMK's output of steel is sold in Russia.
The company's primary source of iron ore is now Stoilensky GOK, a company which is 350 km from the mills at Lipetsk.
[edit] Related organizations
[edit] Acquisitions
- OJSC Dolomite, miner and processor of metallurgical dolomite, acquired in 1997.
- OJSC Stagdok, miner and processor of fluxing limestone, acquired in 1999.
- OJSC Stoilensky GOK, iron ore supplier, acquired in 2004 (97%).
- License for the large coking coal deposit Zhernovskoie 1 in the Kuzbass region of Russia, acquired at State auction in 2005.
- DanSteel A/S, Danish steel rolling company, acquired in 2006.
- The JSC Altai-koks and Prokopievskugol Group of Coal Companies, acquired in 2006.
- VIZ Stal, the second-largest Russian electrical steel producer, acquired in 2006.
[edit] External links
- Official site - English language version
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