Krasny Oktyabr (steel plant)


Volgogradskiy Metallurgicheskiy Zavod Krasny Oktyabr is a Russian closed joint-stock company which maintains the Krasny Oktyabr factory, one of the largest Russian metallurgy facilities.

History

The company's factory was established on April 30, 1897. After the Bolshevik Revolution the factory became known as Krasny Oktyabr, Red October. To the west, it was widely known as the Red October Factory. The factory provided steel for the Stalingrad Tractor Factory. It was completely destroyed in the battle of Stalingrad, but was restored by 1946. During the Soviet era it was awarded the Order of Lenin and the Order of the Red Banner of Labour.
The company entered bankruptcy proceedings in 2009. In 2013 it came under the ownership of Dmitry Gerasimenko. In 2016 Gerasimenko was detained in Cyprus on fraud charges, over the alleged theft of a $65 million loan from VTB Bank.