Ispat Group summons its traders

Ispat Group summons its traders

The ever-growing Ispat and LNM groups have realized that they have incurred uncontrolled growth over the past year with the addition of Sidex, Ispat Annaba and now Nova Hut. Several of their mills are now competing for the same slice of the market and this is creating confusion and distress among management at the mills and the customers. To try to limit competition among the mills and limit misrepresentations in the market, the Ispat and LNM groups have summoned all major trading companies to their headquarters in London over the next few weeks. In addition to their organisation profile in terms of management philosophy, manpower depth, markets and products coverage and financial strength, each trading company will be requested to present their suggestion on how the group could develop a mutually beneficial working relationship as Ispat and LNM believe in complete transparency of the costs and revenues of transactions between themselves and the end customers and they are open to any innovative proposal that might be brought forward.