News

14 November 2017

NLMK Group holds ceremonial launch of construction of own Corporate University in Lipetsk

NLMK Group holds ceremonial launch of construction of own Corporate University in Lipetsk

NLMK Group CEO Oleg Bagrin, Head of Lipetsk Region Administration Oleg Korolev, and Head of Lipetsk Sergey Ivanov were the guests of honor at the Time Capsule Ceremony held 7th of November, 2017 at the site of the future NLMK Corporate University.

This ceremony held on NLMK’s anniversary (83 years) marked the symbolic start to construction of the building that will house the forthcoming NLMK Corporate University, a unified training center for managers from all NLMK Group companies.

The Time Capsule contains a message from the finalists of the 2017 NLMK Young Leader corporate competition to their successors, the NLMK leaders of 2067.

When construction is complete, the time capsule will be set into the pavement of the renovated square in front of the Corporate University, with plans to open it in 50 years time.

NLMK Group CEO Oleg Bagrin, one of the masterminds behind the Corporate University project, said:

“Today we made a symbolic start to construction of the building for our Corporate University, that we expect to welcome students as early as next year.

NLMK is not concerned exclusively, or even first and foremost with production and technology. Our key focus is our team. Their knowledge enables us to successfully tackle the most complex challenges and stay ahead of the competition. The objective of the Corporate University is to retain and disseminate this knowledge. We must provide all of our employees with the opportunity to learn, to grow and to unlock their potential. We want our people to know that they can make a difference. We need to create the conditions whereby every individual can make an impact and contribute to changing our company for the better. This is the mission of our forthcoming Corporate University in a nutshell.”

NLMK Group announced the construction of a new cultural and educational center on the site of a former cultural center for steelmakers in Lipetsk in July 2017. Construction of the innovative multi-functional center, which will be the only one of its kind in the region, is underway on the site of the decommissioned culture center.

NLMK plans to complete the construction of the project worth around 1 billion rubles by the end of 2018. The foundation is currently being laid.

The new building is going to become home to NLMK Group’s Corporate University, a future center for training and re-training managers from all NLMK companies. Frantseniuk square, which is adjacent to the building, will be transformed with convenient new entrances, car parking and a pedestrian zone. Following the renovation, the green areas on the site will expand from the current 800 m² to 1800 m². A park will be set up around the building, with terraces, patios, and a sidewalk cafe.

The architect of the project is Front Architecture, a Moscow-based company. The Chief Designer is another Moscow-based company, DPM Architecture and Engineering, which has more than 50 projects in its portfolio, including the Business School building at Skolkovo Innovation Center.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.

NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore windmills.

NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.

NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In H1 2017, the Company generated $4.7 billion in revenue and $1.22 billion in EBITDA. As of 30 June 2017, Net debt/EBITDA stood at 0.4х. The company has an investment grade credit rating from S&P and Fitch.

NLMK’s ordinary shares with a 16% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUR1. For more details on NLMK shareholder capital.

NLMK Group received the Steel Industry Leadership Award at the prestigious 2016 Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical.

For more information on NLMK Group, please visit our website

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