Maxi Group, a subsidiary of the Russian steelmaker Novolipetsk Steel (NLMK), has announced that the shareholders of its production facility Nizhne-Serginsky Metallurgical and Metalware Plant (NSMMZ) have decided in favor of the incorporation of Berezovsky Electrometallurgical Plant, also a Maxi Group subsidiary, within NSMMZ.
Accordingly, the move is aimed at improving performance (to reduce managerial, administrative and other costs) and at the consolidation of the production chain within a single legal entity.