Norwegian Ironworks AS was established as a state-owned enterprise by the Storting in 1946 with the aim of increasing Norway's self-sufficiency in steel. The company utilized Norwegian hydropower and iron ore for the production and export of steel products. During its lifetime, the company experienced financial challenges, which characterized its operations for many years.
The raw iron and coking plant were closed in 1988, and the plant and energy production were taken over by Mo Industripark. Norwegian Ironworks AS has had a historical significance in Norwegian industrial policy, especially in the period after World War II, when the ironworks was central to discussions about national steel production. The company's history reflects the development of Norwegian industry and the political decisions that have shaped this sector.