Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that MMK-Trans Holding (a joint venture of MMK Group and LiT, LLC, developing and implementing projects in the area of cargo shipment) and Globaltrans Group have signed an agreement under which Globaltrans Group becomes the owner of 100 percent of MMK-Trans.
This deal also envisages the signing a five-year shipping contract between the parties to transport at least 70 percent of cargoes of MMK Group.