Strategic partnership agreement between NLMK Group and LTC Group

NLMK Group signed a long-term strategic partnership with LTC Group, Italy and the 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 and non-grain grade electrical steel and provide technical support to LTC Group. The agreement also calls for increased collaboration in the development and marketing of new products.

Ilya Gushchin, Vice President of Sales, NLMK Group, said: “The strategic agreement with LTC, our key client, takes our long-term partnership to a new level. This reflects a mutual commitment to joint long-term cooperation. This will allow our partner to produce higher quality products from NLMK steel and is fully in line with our strategy to expand the supply of high-quality 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 produces grain-free electrical steel at its Lipetsk site. NLMK accounts for 81% of all Russian production of this high-tech product.

LTC Group is a leader in electrical steel processing in Europe and the Middle East. He operates several production units in Italy and one in the United Arab Emirates. The company manufactures magnetic cores for all types of transformers and reactors.