05/06/20 18:46 MOEX (RUR): 59.80 change in % 0.34 LSE (USD): 3.45 change in % 0.10

TMK and NLMK held a Coordination Board meeting at TAGMET


Taganrog Metallurgical Works (TAGMET), a TMK subsidiary, hosted a meeting of the Coordination Board for TMK and Novolipetsk Steel (NLMK).

The Coordination Board brought together top managers from NLMK and TMK responsible for sales, production and technical matters. The partners discussed delivery terms, matters related to output growth and product mix expansion, and requirements to products by customers in the CIS and beyond.

“TMK meets with its partners in this format on a regular basis. However, this is the first Coordination Board meeting with NLMK over the recent period. Our cooperation with NLMK is expanding – we are increasing the volume of supplies and introducing new types of products. Now NLMK can provide the complete range of coils required by TAGMET, which was not possible before. This applies primarily to furnace butt-welding. At the moment, we are looking for ways to increase purchasing across the entire product range,” said Sergey Marchenko, TMK’s Vice President for Procurement.

"The OCTG segment is a strategic market for NLMK in Russia. In the last two years, NLMK has increased sales to this segment almost two-fold up to 14%, and we are strengthening our presence in this market. We are pleased to see that TMK has become our reliable partner, and will strive to enhance the established win-win partnership," said Ilya Guschin, NLMK Group Vice President Sales.

In 2014, NLMK accounted for only 9% in the total volume of metal purchased by TMK. Following a discussion of new partnership arrangements between TMK and NLMK in 2015 and resolution of common technical issues, the delivery volume has grown considerably. Currently, NLMK’s share in coil supplies to TAGMET exceeds 50%. In addition, NLMK started supplying its coils to other TMK’s facilities.

TMK and NLMK held a Coordination Board meeting at TAGMET


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