HistoryOMZ (original name - the Ural Heavy Machinery Works) was founded in 1996 by the Ural Heavy Machinery Plant (OAO Uralmashzavod) and OAO ZSMK a producer of oil drilling equipment. Uralmashzavod stood at the center of the development and restructuring of the industrial sectors of the Russian economy which today represents the core of Russian national production and GDP. Machinery and equipment manufactured by Uralmash is in operation in 42 countries in Europe, Asia and Latin America. In 1998, OAO Izhorskie Zavody merged with the Company, and the new entity was renamed - the Joint Stock Company OMZ (Uralmash-Izhora Group), or ÎÀÎ OMZ. Izhorskiye Zavody is the oldest enterprise in Russia, responsible for the impetus and development of the domestic engineering industry and for almost two hundred years, was known as the Admiralty Izhorskiye Zavody. In the 1950’s specialized production of shovels & excavators for the countries evolving mining industry was established at Izhorskiye Zavody. In the 1960’s , specialized metallurgical and engineering facilities capable of serial production of equipment for nuclear power plants with water-moderated reactors were set up at Izhorskiye Zavody. An important step in the development of the company was made in September 2003, when ordinary shares of OMZ were issued in the form of American Depository Receipts (ADR) on the London Stock Exchange. In 2004, Czech companies Skoda JS a.s., Skoda Hute s.r.o. and Skoda Kovarny s.r.o., became part of OMZ. Later, in 2007, the companies Skoda Hute s.r.o. and Skoda Kovarny s.r.o. were merged into as single entity - Pilsen Steel s.r.o. Skoda JS a.s. has been active in engineering for 50 years now and supplies the nuclear power industry. During this time Skoda JS a.s. acquired considerable experience and has become a reliable supplier of equipment for nuclear power plants around the world. In 2007 OMZ and UK Metalloinvest agreed on a parity basis to form a single industrial complex for the production of equipment for metallurgy, mining, the oil and gas industry and other industries on the basis of OAO Uralmashzavod and OAO ORMETO-YUMZ and a number of engineering companies. The new structure was named ÇÀÎ Uralmash Machine-Building Corporation.
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