NLMK to face new challenges with measures to 'preserve level of wellbeing' for staff - Lisin

MOSCOW. March 7 (Interfax) - The main shareholder of NLMK , Vladimir Lisin, has issued a statement to reassure staff of the company's support in light of drastic changes in working conditions since the start of Russia's special military operation in Ukraine.

"The most important thing for us today is to honor our obligations to our clients, preserve jobs, provide material support for our employees, increase funding for the social programs in the regions where we have presence, and help the needy. We are preparing a package of measures to support all our employees, to preserve the level of wellbeing of our workers," the statement, published on the corporate website (a copy of which was seen by Interfax), said.

"Because of the events taking place, the company encountered a serious change in the conditions of its operation. The situation continues to change very quickly. All of us together have to adapt business to the new conditions.

"A peaceful, diplomatic conflict resolution is always more preferable to forceful action. My colleagues in the board of directors and I sincerely hope for swift conclusion of this conflict."

NLMK Group is a vertically integrated metallurgical company with production assets in Russia, Europe and the United States. Lisin owns 79.3% in NLMK through Fletcher, in which he holds 95.74% stake directly and through OOO Rumelko, the remaining 4.26% is held by Yury Lisin's RiskInvest Holding.