The 240 year history of Omutninsk Metallurgical Plant is described. Currently, Omutninsk Metallurgical Plant is a compact enterprise with incomplete metallurgical cycle and annual production volume of 180,000 t. The plant includes 4 main production facilities: Martin, long product rolling mill, steel shaped sections plant and elevator guide rails plant. Ready products of the enterprise comprise hot-rolled and calibrated shaped sections of high precision, cold-drawn and mechanically treated elevator guide rails. Considering remoteness of the plant from raw materials, the task for today is increasing volume of hi-tech products. Reconstruction plays a special role in solving this task. After successful finish of the first stage of reconstruction in 2006, its second stage, including upgrading rolling production, was planned.