NLMK Engineering and Chinese WISDRI sign cooperation agreement
NLMK Engineering, one of the leading design institutes in the Russian steel sector, and China’s leading state engineering company WISDRI Engineering & Research Incorporation Limited, have signed a master cooperation agreement. The term of the agreement is three years. It covers collaboration on investment projects by NLMK Group and other steel companies.
The agreement was signed by General Director of NLMK Engineering Valery Khaybullin and Deputy General Director of WISDRI Weng Limin. The companies are planning to collaborate on developing basic engineering, design and work documentation for projects to upgrade and develop steelmaking operations in Russia.
Konstantin Lagutin, NLMK Engineering Chairman of the Board, NLMK Group VP for Investment Projects, said: “This agreement is a good example of international cooperation in the steel sector. Both companies have extensive experience in designing technically sophisticated steelmaking complexes. Participation in joint projects will enable the companies to exchange best organizational practices, and to expand their presence in the Russian and international markets of design services in industrial construction. We are hoping that it won’t be long before UralNIAS, our Yekaterinburg-based Research and Development Institute of Architecture and Construction, joins our collaboration perimeter.”
About NLMK Engineering
The company was founded in Lipetsk in 1960. Today, NLMK Engineering is NLMK's general designer; it is included in the top-100 largest Russian companies engaged in activities relating to architecture, engineering design, industry and construction. Since 2002, NLMK Engineering is included in the unified register of the Russian State Committee for Construction (Gosstroy) as the “Best Company of the Russian investment and construction complex” in the field of design. In 2010, the company was awarded a Building Honour badge, the top public award of the Russian construction community. It also has three diplomas "For achieving high performance in the current economic conditions” from the All-Russian competition. The company has 537 employees.
WISDRI Engineering & Research Incorporation Limited is a subsidiary of Metallurgical Corporation of China ltd, the company that designed and built key facilities for almost all large and medium ferrous steelmaking companies in China. WISDRI specializes in engineering and consulting services for the development and execution of investment projects in the steel and energy sectors, environmental protection, housing and utility infrastructure, etc. The company was created in 1955. It is headquartered in Wuhan, Hubei Province. The company is currently executing a number of large-scale projects for Russian steel companies.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore windmills.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 9M 2017, the Company generated $7.25 billion in revenue and $1.87 billion in EBITDA. As of 30 September 2017, Net debt/EBITDA stood at 0.3х. The company has an investment grade credit rating from S&P and Fitch.
NLMK’s ordinary shares with a 16% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.
NLMK Group received the Steel Industry Leadership Award at the prestigious 2016 Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical.