The company is primarily a heavy industry factory. It specializes in engineering, production, sales and maintenance of equipment and machines for the nuclear power, oil and gas, and mining industries, and in production of special steels and equipment for other industries. Production includes metal tanks, boilers, pressure vessels of nuclear reactors, and devices for distillation, filtering or purification of liquids and gases. It has produced the reactor vessels for the first Russian floating nuclear power stationAkademik Lomonosov.[4]
OMZ employs some 16,500 people. A recent Expert magazine ranking placed OMZ among Russia's 400 largest companies. Izhorsky Zavody factory is an important part of the St. Petersburg economy.
In November 2021 Izhorskiye Zavody manufactured and delivered at sea a reaction vessel for Akkuyu Nuclear Power Plant Unit 2 in Turkey. The price of the reaction vessel is approximately RUB 3 billion, based on a contract signed in 2017.[5]