Novolipetsk Steel, or NLMK, is one of the four largest steel companies in Russia. NLMK's share of domestic crude steel production is about 21%. It primarily produces flat steel products, semi-finished steel products, and electrical steels. NLMK also produces specialty coated steels, as well as high-ductility and micro-alloyed steels. It is the 21st-largest steel maker in the world. The larger NLMK group owns several other steel and mining companies, primarily in Russia.
History
Historically, the Lipetsk area in central Russia has had 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.[1] 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 the list of related organizations. In 1998, Vladimir Lisin became the chairman. The manufacturing area in Lipetsk covers 27 square kilometers.
Less than half of NLMK's steel output is sold in Russia.