NLMK supplies electrical steel to Riga Electric Machine Building Works
NLMK has supplied the first shipment of electrical non-grain-oriented steel to Riga Electric Machine Building Works (AS Rīgas elektromašīnbūves rūpnīca, part of Transmashholding).
The plant is going to use NLMK steel to manufacture traction electric motors.
AS RER make traction motors and electric equipment for electric locomotives, passenger trains, trams and electric lift trucks.
Ilya Guschin, NLMK Vice President, Sales, said:
“9 out of 10 electric locomotives in Russia are made with NLMK steel, and we are excited to start a new partnership in the field of railway transport. The high quality of our products will help our customers gain additional competitive advantages.”
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 competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. 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.
For more information about NLMK Group, please visit our website.
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