OREANDA-NEWS. NLMK Verona, an Italian based NLMK Europe Plate production asset, has completed the commissioning of upgraded press equipment. The project will allow for expansion of the product mix and will increase the reliability and stability of deliveries to its clients in the machine-building industry, as well as reducing production costs.

As part of the facility upgrade project, NLMK Verona has completed testing and began full-scale operation of a new manipulator which rotates the ingot during the forging process. It has also completed the modernization of its existing press that has enabled the forging of ingots in three planes: by thickness, by width and by length. NLMK Verona was previously unable to so due to the press configuration and lack of equipment for transporting hot ingots; and the company had to outsource the processing of ingots, which led to higher production costs.

Marcello Calcagni, NLMK Verona Director, said:

‘Whilst up till now third party contractors processed our ingots and forged 800 mm plates, our move away from outsourcing will result in significant production cost cuts; as well as increased product quality and reliability of supplies, as we will be able to control the entire process chain. New equipment will also enable the company to increase production of heavy plates by 35%.’

In order to increase the production of heavy plates using the new equipment, NLMK Verona will install an additional furnace for heating ingots during the forging process; and a unit for hot cutting plates by the end of 2015.

Investment in the project will total approximately 9 million euro; and will have a payback period of 1.6 years.

About NLMK Verona

Steel plant NLMK Verona is located in Verona, Italy. It is part of NLMK Europe Plate. It specializes in the production of thick plates and the forging of ingots used for the production of mill rolls, thick plates, turbine rotors, etc. Around 2/3 of its products are sold in Italy. NLMK Verona’s production capacity is about 450,000 tonnes of steel products per year.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK’s metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The Company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia.

NLMK has the most competitive cash cost among global manufacturers; and one of the highest profitability levels in the sector. The company generated \\$4.4 billion in revenue; \\$1.1 billion in EBITDA; and a net profit of \\$491 million in H1 2015.

NLMK’s ordinary shares are traded on the Moscow Stock Exchange (ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).