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.