- Business
- Izhstal PAO (IGST.ME) is a Russian steel producer that manufactures a range of long steel products including railway wheels, axles, steel billets, and rolled steel shapes; it specializes in forged and rolled railway wheels for freight and passenger cars, solid-rolled railway axles, and various steel sections such as beams, channels, angles, and strips. The company operates production facilities in Izhevsk, Russia, where it is headquartered and was founded in 1760 as one of the oldest metallurgical enterprises in the country; it functions as a key subsidiary within the Mechel PAO group, focusing on rail transport components and construction steel for domestic and export markets primarily in Russia, the Commonwealth of Independent States, and select international regions. Its product portfolio also encompasses deformed and merchant bars, special profiles, and hardware items like fasteners and chains, serving industries such as rail infrastructure, heavy engineering, and construction. In recent developments, Izhstal has continued modernization efforts under Mechel's restructuring, including equipment upgrades for increased wheel production capacity and efficiency improvements amid ongoing financial recovery initiatives following Mechel's 2022 debt restructuring; no major new acquisitions, partnerships, or product launches were reported in the last 1-2 years as of late 2025, with operations stable amid Russia's industrial sector challenges.