“Baaseland Værk” was given the name Naes blast furnace operation when the buildings were concentrated by Storelva in 1738.
While Ulrich Schnell was the sole owner of Baaselands Værk, he decided to relocate the blast furnace to the Storelva to take advantage of the water power available.
During the decades of the 1750s and 1760s favorable economic conditions allowed Schnell to expand the business to a significant undertaking.
During the war with England from 1807 to 1814 Aall made a special effort to import wheat from Denmark for the people of the parish who supported the Næs Ironworks.
In 1820 the iron works had its own savings bank, as well as health and social security systems for its employees.
It was originally built to cross the Drammen River, near the mouth of the Simoa creek at Åmot in Modum.
[7] In 1853 another iron works, Egelands Verk at Eikeland village in Gjerstad municipality of Aust-Agder, was purchased for 80,000 Norwegian Speciedalers, and was operated as a subsidiary of the undertaking at Næs.
Operations at Naes were restarted under the aegis of a corporation, in which the family Aall was able to retain a majority share.
In 1886, it built a new blast furnace following the Swedish pattern, and specialized crucible steel production was expanded.