NLMK Group announces changes in NLMK Clabecq and NLMK Verona management
NLMK Group, an international steel company, is pleased to announce the appointment of Mr. Peter Georg Selbach as CEO of NLMK Belgium Holdings plate business, which includes two companies in Europe: NLMK Clabecq (Belgium) and NLMK Verona (Italy).
Peter will succeed Mr. Cornelius Louwrens, who will be leaving the Company before the end of 2018. Peter Selbach also joined the Management Board of NLMK International BV, NLMK Group’s international asset management company.
Grigory Fedorishin, NLMK Group President and CEO, said:
“I would like to thank Cornelius Louwrens for having been instrumental to launching and implementing an operational efficiency improvement program at NLMK Clabecq, which improved the performance of the site. In particular, it’s through Cornelius and his team’s efforts that NLMK Clabecq managed to achieve a significant increase in technology intensive Q&T plate output. We would like to welcome Peter Selbach to our team and we are sure that his extensive experience in the industry and expertise as an executive in leading European steel companies will enable NLMK Clabecq and NLMK Verona to achieve strategic goals.”
Mr Peter Georg Selbach's background
Before joining NLMK, Peter Georg Selbach served in executive management positions in European steel companies, including Hydro Aluminium, Bodycote International plc, Telemond Holding, Alcoa Europe and ThyssenKrupp Steel. In 2005-2013 Peter managed the global plate business and strip sales within ThyssenKrupp Steel. Peter Georg Selbach has extensive expertise in business restructuring, plant construction and capacity expansion, including in new niches, as well as product and service portfolio expansion.
About NLMK Belgium Holdings
NLMK Belgium Holdings (NBH) is a joint venture of NLMK Group (49%) and the Belgian state-owned SOGEPA (49%); the remaining 2% are treasury shares. NBH includes NLMK La Louvière and NLMK Strasbourg European strip manufacturers, NLMK Manage Service Center, and plate manufacturers NLMK Clabecq (Belgium) and NLMK Verona (Italy).
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 2018, the Company generated $9 billion in revenue and $2.7 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).
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. For more details on NLMK shareholder capital please follow the link.
The jury of the prestigious S&P Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical, announced NLMK Group as winner of the Industry Leadership Awards – Steel in 2016, and awarded it the CEO of the Year in 2018.
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