NLMK supplies trial batch of pre-painted steel for LG household appliances
NLMK Lipetsk, the flagship site of NLMK Group, has supplied a trial batch of pre-painted steel with improved coating quality to leading white goods manufacturer LG Electronics plant in Russia. NLMK steel will be used to make washing machine bodies.
The trial batch has been successfully tested at LG Electronics RUS plant in the Moscow Region. A multi-stage quality assessment confirmed that the properties of steel and the quality of the coating as in line with LG Electronics RUS standards.
NLMK Lipetsk has custom-designed a product especially for LG Electronics RUS with narrower physical, mechanical and chemical tolerances, and mastered a pre-painting process to ensure a particularly clean finish better colour durability and polish, enhanced flexibility and hardness.
NLMK and LG Electronics RUS are planning to begin regular shipments soon. This general agreement will be the first direct pre-painted steel supply contract signed by LG Electronics RUS with a local Russian manufacturer.
Ilya Guschin, NLMK Vice President, Sales, said:
“The high quality of our steel delivers additional competitive advantages for our client, fueling their leadership in the market.”
About LG Electronics RUS
LG Electronics is a global leader and technology innovator in consumer electronics. LG is a world-leading producer of TVs, refrigerators, air conditioners, washing machines and mobile devices, including premium LG SIGNATURE and LG ThinQ products featuring artificial intelligence.
The LG Electronics RUS plant started operating in 2006. It is located in the Ruzsky District of the Moscow Region. The area of the plant is 47 hectares. It is considered to be one of Europe’s largest white goods and consumer electronics manufacturing sites. LG Electronics RUS manufactures 168 TV models, 75 refrigerator models, and over 100 washing machine models.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s 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 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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