NLMK renames trading arm

Russian vertically-integrated steel producer NLMK has renamed its Swiss-based trading arm Novex Trading S.A. to NLMK Trading. The change of the name is to align the name and corporate identity of the trading company with NLMK Group’s brand, the company tells Kallanish.

NLMK is one of the world’s largest merchant slab suppliers, but its extensive re-rolling facilities in Russia, Europe and the United States process a large share of the semi-finished output, depending on market conditions. NLMK’s flat rolled steel production ranges from thin-gauge dynamo steel to heavy plate used in offshore power generation.

The company has been undergoing significant reorganisation of the management in the past two years. The Swiss trading arm is also preparing to welcome a new head, whose appointment is in the final stages of administration.

The company’s revenue totalled $5.9 billion and its Ebitda amounted to $1.7 billion in the first half of 2018.