Russian steelmaker NLMK Group has announced that it has signed a three-year agreement with Siemens AG on technical cooperation for the supply of NLMK-produced steel products to the Germany-based company.
The agreement was signed by representatives of the companies at an extended meeting of Siemens management board held in Moscow on June 4.
In line with this strategic agreement, the companies are to establish a common coordination board. Its goal will be to expand cooperation on the supply of NLMK-produced steel products and their application at Siemens' plants. The board's primary focus will be to explore opportunities to expand the use of NLMK-produced steel at Siemens plants in Germany, Austria, Slovakia, Mexico, Columbia, Brazil, India, UAE, and Russia.
As part of the new phase of cooperation, on an annual basis NLMK will be able to supply up to 18,000 mt of NGO (non-grain-oriented) steel, up to 15,000 mt of GO (grain-oriented) steel, and up to 30,000 mt of its thick plate. These steel products are planned for use in the manufacture of equipment for the electrical power industry, including electrical drives and transformers.