NLMK Group and LTC Group ink strategic partnership agreement
NLMK Group, a global steel company, has signed a long-term strategic partnership agreement with LTC Group, Italy and Middle East, a leading European manufacturer of components for transformers and power generation devices.
Under the agreement, NLMK Group companies in Lipetsk and Yekaterinburg will regularly supply grain-oriented and non-grain-oriented electrical steel and provide technical support to LTC Group. The agreement also calls for extended cooperation in the development and market promotion of new products.
Ilya Guschin, NLMK Group Vice President, Sales, said:
“The strategic agreement with LTC, our key client, takes our long-term partnership to a new level. It reflects mutual commitment to joint long-term cooperation. It will enable our partner to make better products from NLMK steel, and is fully in line with our strategy to expand deliveries of premium products to our key markets.”
NLMK Group produces 100% of all Russian grain-oriented electrical steel at its facilities in Lipetsk and Yekaterinburg. NLMK Group also manufacturers non-grain-oriented electrical steel at its Lipetsk site. NLMK accounts for 81% of Russia’s entire output of this high-tech product.
About LTC Group
LTC Group is the leader in grain-oriented electrical steel processing in Europe and in the Middle East. It operates several production units in Italy and one in United Arab Emirates. The company produces magnetic cores for all types of transformers and reactors. Its key focus is green energy. LTC Group supplies the production of transformers and reactors used for wind applications, photovoltaic power stations, hydroelectric plants, and cogeneration plants. LTC Group is constantly engaged in research and development to improve manufacturing process and increase quality of its products.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s high-quality steel products are used in various industries, from construction and machine-building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).
NLMK’s ordinary shares with a 18,6% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital please follow the link.
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