Ninety-five years ago during the First World War Nikolay A. Vtorov (1866-1918), the wealthiest Russian businessman and industrialist nicknamed “Russian Morgan” for his business acumen, founded several defense plants in Bogorodsk district of Moscow government including the first Russian high quality alloyed steels making plant located in Zatishe village (Electrostal).
The first steel was melted by the Plant “Electrostal” on November 17, 1917.
The development of new industries, construction of tool-making, machine-building, aerospace and automotive plants and enterprises led to an increase in demand for high quality metal. The first stainless steel was melted in 1923. Magnetic and ball bearing steels were manufactured in 1924 and 1926, respectively. In 1932, the first batches of nichrome were made. Forging and rolling of alloyed steel and manufacture of silver steel of different grades were successfully mastered during those years as well.