The Beloretsk Metallurgical Plant, one of the oldest enterprises in the ferrous metallurgy sector in our country, was founded in 1762 by merchants I.B. Tverdyshev and I.S. Myasnikov on land purchased from local residents. Initially, the plant was built and maintained by serfs from the Kazan, Nizhny Novgorod, Penza, and Ryazan provinces. The plant had a capacity of 122.5 thousand poods of cast iron and 80 thousand poods of iron per year. The staff numbered 840 men, of whom 145 worked in the workshops, while the others were engaged in ore mining, timber harvesting, coal production, and delivering all of this to the plant.

In 2002, for economic reasons, the blast furnaces and open-hearth furnaces were taken out of operation. The main focus of the plant's activities became wire and cable production, which remains important for the residents of Beloretsk. In 2012, the plant celebrated its 250th anniversary, and in honor of this event, a monument to Ivan Tverdyshev was erected in the plant's square.