Top OTCG Manufacturers - New Technology 5
Over the last ten years, EVRAZ has acquired IPSCO, a company with innovative technology. It has also introduced new technologies to its mines and credits new technology for its success. This proves that the company is more than open to adopt new technology.
EVRAZ Acquires IPSCO
- In 2008, together with TMK, EVRAZ acquired IPSCO’s North American plate and pipe businesses for $4.025 billion.
- According to the company's CEO at the time, the deal was done to increase EVRAZ' exposure "to the attractive energy and infrastructure sectors" throughout the North American region.
- IPSCO describes its plate and pipe business as one that amalgamates innovative and advanced technology "with powerful manufacturing capabilities and talented people to create innovative tubular solutions."
EVRAZ Adopts New Technology
- EVRAZ launched and adopted a pulverized coal injection technology unit in 2014.
- The unit has a production capacity of "160 tons of pulverized coal fuel per hour, or about 1.3 million tons annually."
- According to the company's vice president, the change to pulverized coal injection technology was done to improve production performance and reduce costs.
- EVRAZ NTMK was the first Russian plant to launch that specific technology unit. The company mentioned that it expected the implementation of the new technology to be a success.
EVRAZ' Success Factors
- On its website, EVRAZ mentions that one of the main reasons for its success is its application of new technologies.
- The company states that by implementing new technologies, it has become a cost-efficient leader in its industry.
EVRAZ Kicks Off Tashtagol Iron Ore Mine Upgrade
- In 2018, EVRAZ announced that it was upgrading its Tashtagol ore mine.
- The upgrade will introduce new technologies which the Tashtagol mine will operate.
- According to the company, the new technologies will "significantly increase productivity at all stages of ore production and reduce the costs."
- The Tashtagol mine was expected to fully switch to the new technologies by the end of 2019.
EVRAZ Introduces Directional Drilling Technology
- EVRAZ announced in 2018 that it introduced the directional drilling technology to its mines.
- According to the company, this helped its mines increase "the volume of methane extracted to 45 In 2018."
- Over the last decade, EVRAZ has acquired a company for its innovative technology and adopted several new technologies.
- The company also attributed its success to its willingness to adopt new technologies.
- The above examples show that EVRAZ is very open to adopting new technology, as long as the technology aligns with its strategy.