NLMK and Europe’s leading manufacturer of transformer components and power generation devices LTC Group have signed a long-term strategic partnership agreement, the companies say.
Under the terms of the agreement, NLMK will regularly supply grain-oriented (GO) and non-grain-oriented dynamo steel to LTC Group from its mills in Russia’s Lipetsk and Yekaterinburg. The agreement also provides terms for deeper cooperation in development and marketing of new products.
NLMK and LTC have been working together for a considerable length of time. The signing of the agreement reflects both parties’ commitment to developing longer-term joint cooperation. It is fully in line with NLMK’s strategy to “…expand deliveries of premium products to the key markets,” according to Ilya Guschin, NLMK Group vice president.
NLMK Group is Russia’s only GO dynamo steel producer, while its non-GO dynamo steel output share in the Russian market totals 81%, the company tellsKallanish.
LTC is a leading GO steel processor in Europe and Middle East, with several production facilities in Italy and United Arab Emirates. A producer of magnetic cores for various types of transformers and reactors, its key focus is green energy, supplying to companies specialising in wind, photovoltaic, hydroelectric and cogeneration power generating plants.