Norilsk Nickel is pleased to announce that its 100% owned subsidiary, UK based, Norimet Limited, has entered into a contract with Germany’s Volkswagen AG for the supply of palladium.

Volkswagen AG is the largest automobile manufacturer in Europe and the fourth largest in the world, and widely uses palladium metal in catalytic converters.

As Denis Lepetyukha, managing director of Norimet Ltd., said, such contracts would testify to the success of Norilsk Nickel’s strategy designed to head for entering into direct agreements with consumers. We are sure that the strategy provides for stability in the precious metals markets, he noted.