NLMK enhances employee collaboration to create efficiencies
The new developments and technical solutions were designed to improve equipment productivity and production processes, optimise energy consumption, and improve production quality and working conditions at the plant.
A technical creativity competition for young employees was also held as part of the innovation and efficiency contest. Over 300 company employees under the age of 30 took part in the competition. They were evaluated based on the number of proposals put forward, the most significant economic impact, as well as in the Best Young Innovator and Best Mentor for Young Innovators categories.
As a result of implementing the efficiency and cost cutting proposals at Novolipetsk, savings of around RUB140 million were achieved.
NLMK is an international vertically-integrated steelmaking company with production facilities located in Russia, Europe and the US. The liquid steel capacity of its operating units exceeds 15 mtpy. The Company generated $11.7 billion of revenues and a 19.5% EBITDA margin for the full year 2011.