Cornelius Louwrens appointed CEO NLMK Europe Strip
NLMK Group, a global steel company, is pleased to announce the appointment of Mr. Cornelius Louwrens as CEO NLMK Europe Strip Products (which includes NLMK La Louvière, NLMK Strasbourg and NLMK Manage Service), all part of NLMK Belgium Holdings (NBH)). Previously Cornelius held the position of CTO NLMK International.
Mr. Renaud Moretti, who previously headed the Strip Division, has decided to leave the Group in April 2021.
Ben De Vos, CEO NLMK International, said: “We are convinced that Cornelius’ extensive experience in the industry and as an executive in leading European steel companies will enable NLMK Europe Strip to execute its strategic development plans. We would like to thank Renaud Moretti for his significant contribution to the transformation of the division.”
Cornelius Louwrens’ background
Mr. Cornelius Louwrens has over 20 years’ experience in senior positions in some of the world’s leading steel companies. He graduated with a B.Eng. (Mechanical Engineering) degree from the University of Pretoria (South Africa) in 1990. He holds degrees from the University of Stellenbosch, South Africa (2000) and Kellogg School of Management – Northwestern University, USA (2007). Mr. Louwrens worked for Tata Steel, ArcelorMittal, Saldanha Steel.
About NLMK La Louvière
Located in Belgium, NLMK La Louvière focuses on the production of hot- and cold-rolled coils for the automotive, construction, and engineering industries. The site production capacity will be enhanced to 2,200,000 tonnes of hot-rolled steel and 1,500,000 tonnes of pickled steel. NLMK La Louvière is continuously expanding its range of products and steel grades of cold forming & deep drawing, structural and pipe steels, quenchable boron & high carbon steels, dual phase, ferro-bainitic steels and other advanced steel grades.
About NLMK Belgium Holdings S.A. (NBH)
NBH comprises the production companies and service centres of the NLMK Europe Strip Division (NLMK La Louvière, NLMK Strasbourg, NLMK Manage Steel Center), and two NLMK Europe Plate production companies (NLMK Verona and NLMK Clabecq). NLMK Group and SOGEPA own a 49% stake of NBH each. The remaining 2% belong to THN, an NBH-affiliated company.
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 wind turbines.
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 a highly competitive competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and RAEX (Expert RA).
NLMK’s ordinary shares with a 20.7% 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.
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