NLMK Group sets aside funds to support fight against COVID-19 in home regions
The Mercy (‘Miloserdiye’) Charitable Foundation, NLMK Group’s charity partner, is to allocate 500 million rubles to support the regions in which the Company operates in containing the spread of the novel coronavirus COVID-19.
These funds will be allocated in accordance with the scale of the Company’s operations in Lipetsk, Belgorod, Kaluga and Sverdlovsk regions, and Altai Territory.
It is planned that in coordination with the regional and city administration, the funds will be used to purchase the vital medical and personal protection equipment (masks, respirators, disinfectants, etc.).
NLMK Group has already purchased medical equipment as part of the initiative following a request from Lipetsk region, including 30 ventilators, 10,000 protective overalls, as well as oxygen concentrators, bronchoscopes and other equipment.
NLMK has converted its healthcare centers into temporary isolation wards in some of its home regions.
As well as offering support to the regions in which it operates, NLMK Group is carrying out social support measures to protect its staff and prevent the spread of the infections at its sites. These include:
· Working from home on full salary for all the Group’s employees in Russia over the age of 60 (approximately 2,000 people).
· Fully-paid sick leave where taken due to respiratory disease and quarantine (25% above the officially-mandated level).
· Remote working for employees in units where gatherings of people at their workplaces make it difficult to ensure safe social distancing (approximately 2,500).
· All employees required to use additional PPE; regular temperature measurements performed; extensive sanitary treatment and disinfection of facilities and transport infrastructure.
NLMK Group's total spend on these and other measures aimed at curbing the spread of the coronavirus infection in Russia in March and the beginning of April is in excess of 600 million rubles.
As a result, NLMK Group and its charity partner have allocated over 1 billion rubles to date to support Company employees, to execute measures aimed at minimizing the risks associated with the spread of COVID-19, and to finance aid to the regions where the Company operates in Russia.
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 wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK’s ordinary shares with a 18.6% 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 RUB1.
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