Russian steelmaker NLMK has announced that its Italian subsidiary NLMK Verona 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 begun full-scale operation of a new manipulator which rotates the ingot during the forging process. The modernization of the pres equipment will result in significant production cost cuts as the company had to outsource the processing of ingots before. The new equipment will also enable the company to increase production of heavy plates by 35 percent.
NLMK Verona has invested approximately €9 million in the project and it will have a payback period of 1.6 years.