NLMK La Louvière, one of the leading producers of flat steel coils in Belgium and a company of NLMK Group, has embarked on a 150 million euro project to revamp its hot strip mill, expanding production of thinner, stronger and more environmentally friendly steel.
NLMK (LSE: NLMK) will be announcing its consolidated IFRS results for Q3 2019 on Thursday, October 24, 2019.
NLMK Group, a global steelmaker, and Belgian investment fund SOGEPA (Société wallonne de Gestion et de Participations S.A.), have signed an agreement on joint execution of the NLMK Belgium Holdings (NBH) development strategy.
NLMK Lipetsk, NLMK Group’s flagship site, has started hot testing at its new furnace for preheating slabs before rolling at Mill 2000. The new reheating furnace will increase NLMK Lipetsk’s hot-rolled steel output by 110,000 tonnes (+2%), reduce energy consumption by 50%, and almost halve air emissions.
At the Extraordinary General Shareholders’ Meeting (EGM) held on 27 September 2019, NLMK shareholders approved the payment of Q2’19 dividends of RUB 3.68 per share. The total amount of Q2’19 dividends payable to shareholders is equivalent to 136% of the Company's free cash flow based on its IFRS consolidated results for the corresponding period.
NLMK Lipetsk has embarked on the development of project documentation and site preparation for the construction of a new recovery power plant running on by-product gases from steelmaking operations.