MMK and the National Association of Builders (NOSTROY) signed a cooperation agreement in volatile market conditions. MMK and NOSTROY's joint efforts will help provide capital construction projects, including large public infrastructure projects, with high-quality steel construction products.
The agreement provides for cooperation on a wide range of issues to provide the Associationís member companies with MMKís rolled metal products. The cooperation will cover both operational issues and prospective work on market trends and progressive technologies, ways to improve methodological documentation and regulatory framework, as well as improved efficiency in other areas.
The interaction of the parties should result in optimisation of steel supply chains through elimination of intermediaries and possible reduction of time and logistics costs (in particular, through consolidation of requests from construction companies), which will reduce construction companiesí final costs. MMK will be able to rapidly access information on current and future construction projects, including needs and prospective requirements for steel products. This information will help expand MMK's presence in the construction steel segment. While in turn, the Associationís member companies will be able to promptly receive information about the entire range and new types of products available at MMK and take this into account when planning construction projects.
Magnitogorsk Iron and Steel Works is one of the world's largest steelmakers and a leading Russian metals company that turns out a broad range of steel products with a predominant share of high value-added products for all major steel-consuming sectors of Russian industry, including construction.
The National Association of Builders (NOSTROY) is the largest association of self-regulatory organisations engaged in construction, comprising 225 self-regulatory organisations operating in 74 constituent entities of the Russian Federation, as well as over 96,000 companies involved in residential and industrial construction, demolition, reconstruction and major repairs, representing over 50% of all companies operating in the Russian construction industry.