Russia-based steelmaker Evraz has announced that it has signed a memorandum of understanding with GHH-Valdunes International (GHH-Valdunes), Europe's leading wheel manufacturer for the railway industry, to outline both parties' intention to collaborate in the marketing and distribution of their steel wheel products. A final agreement is expected to be signed in December this year.
Evraz will expand its product offering and geographic coverage in the international market for railway wheels, while GHH-Valdunes will develop its presence in the CIS markets.