NLMK plans to promote the development of the technology to manufacture next generation energy efficient transformers from high-permeability electrical steel (HGO).
The memorandum has already been signed by transformer manufacturers from Russia, Belarus, and Armenia, and cooperation is open to all Eurasian market participants.
Partnership members commit to carrying out joint R&D projects, developing and implementing new energy efficiency standards, promoting Eurasian next generation transformer products in global markets, among other initiatives.
NLMK Group is Russia’s only manufacturer of transformer steel with advanced magnetic properties. NLMK's share in the global transformer steel market is about 10%.
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 windmills.
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 the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 9M 2018, the Company generated $9 billion in revenue and $2.7 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).
NLMK’s ordinary shares with a 16% 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.
The jury of the prestigious S&P Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical, announced NLMK Group as winner of the Industry Leadership Awards – Steel in 2016, and awarded it the CEO of the Year in 2018.