Mass Media Overview
Severstal and Lidselmash have signed a long-term cooperation agreement
02.08.2023 15:34
https://www.akm.ru
AK&M Information Agency
Severstal and the Management Company of Lidselmash Holding have signed a long-term cooperation agreement. This was reported by the press service of Severstal.
According to the agreement, Severstal will supply Lidselmash with cold-rolled products produced at the Cherepovets Metallurgical Plant during 2023. In turn, the partner of this metal will produce steel panel radiators for subsequent sale in Russia and CIS countries.
JSC "Lidselmash Holding Management Company" is one of the largest manufacturers of agricultural machinery (potato planting and potato harvesting equipment, tillage equipment, seeders, equipment for harvesting herbs and feed, forestry equipment, municipal equipment), grain cleaning and drying complexes and grain storage complexes in the Republic of Belarus. Also, one of the leading activities of the company is the production and sale of steel panel radiators.
PJSC Severstal is one of the world's largest vertically integrated steel and mining companies with assets in Russia, Latvia and Poland. The company's shares are listed on the Moscow Stock Exchange, global depositary receipts are listed on the London Stock Exchange. Strategic investor. Additionally, Severstal, as the main supplier of rolled metal, is a legal entity involved in the project, guaranteeing the raw material safety of the project.
Severstal's net profit for 2021 increased 4-fold to $4.07 billion from $1.02 billion a year earlier. Revenue increased by 69% to $11.64 billion from $6.87 billion, EBITDA increased almost 2.5 times to $5.98 billion from $2.4 billion.