JSC INPROM is one of Russia’s leading steel service networks. Founded in Taganrog in 1996, INPROM now has 27 branches in major cities of the Russian Federation.
INPROM ’s steel service centers are located in Moscow, St. Petersburg, in administrative centers of Russia ’s republics - Izhevsk, Kazan and Saransk, and in regional centers – Krasnodar, Astrakhan, Belgorod, Bryansk, Kaluga, Lipetsk, Nizhniy Novgorod, Orenburg, Penza, Perm, Rostov-on-Don, Ryazan, Samara, Saratov, Taganrog, Tula, Vladimir, Volgograd, Voronezh, Ulyanovsk, Orenburg, and Chelyabinsk.
INPROM’s main customers are construction, engineering, mining, and energy firms. The total area of production and storage facilities has exceeded 1.1 million sq. m. in 2006. INPROM’s steel service centers are equipped with up-to-date steel processing equipment of leading European manufacturers. More than 500 different steel products totaling more than 100,000 tons in stock are constantly available at the company’s warehouses. Revenue in 2006, calculated to Russian Accounting Standards, stood at 12.05 billion rubles ($440 million at the current exchange rates), up 47 % year-on-year. Since 2003 INROM has been audited to International Financial Reporting Standards by Deloitte&Touche.
The company’s quality management system is certified according to ISO 9001:2000 standard.
INPROM is the sole company in the Russian steel service industry, which attracts investment in its rapidly developing business as a public stockholding company. It has already established a three-year record for public debt issues, with its 2nd and 3rd bond issues have been included in the A1 Quotation List on the MICEX Stock Exchange.
INPROM’s investors are Russia’s leading banks and investment companies.
Step by methodically planned, cost-effective step, INPROM has been lifting the proportion of its aggregate steel sales and shipments which is processed for higher added value. To this end, INPROM installs at its plants the most modern steel processing equipment, including Italian-made cut-to-length machines, plasma cutting and cage welding machines, and German-built shot-blasting lines, which provide high-quality metal surface cleaning, in compliance with the European Commission standard SA3.
As part of the INPROM strategy to boost the share of steel processing in total revenue, and the profitability of turnover, this modernization program is making the company much less sensitive to price fluctuations on the steel market, compared with steel traders.
The company’s five-year business development plan envisages expansion eastward to the Urals and Siberia, as the number of branches will grow to 42 in 2011, and as steel sales will more than double to about 1.7 million tons. Sales of processed steel with high added value are expected to exceed 500,000 tons, or 30% of aggregate sales, with investment over the five-year period, 2007 to 2012, will reach $150 million, of which about $60 million will be invested in modern steel processing equipment.
INPROM is run by highly skilled and committed personnel. The company pays special attention to raising the level of skills of its employees through a personnel training program conducted by the Corporate Training Center, with all company’s subsidiaries covered by the program. Promotion rewards skill, initiative, and loyalty. Over 90% of INPROM’s senior staff started their careers in the Company as managers.
Today INPROM employs about 2,800 people; their average age is around 38.
The Company is committed to meeting the social responsibilities sought by employees and their families. Staff compensation and privileges, guaranteed by the Labor Law of the Russian Federation, include a social security package with medical insurance and payments into the pension insurance fund.
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