Independent directors gain majority on NLMK Board committees The newly elected Board of Directors of NLMK Group held its first meeting after the Annual General Shareholders Meeting. Vladimir Lisin was re-elected Chairman of the Board. Oleg Bagrin was elected Deputy Chairman of the Board. NLMK Group became the first among Russian metals and mining companies to establish a Digital Development Committee as part of its Board of Directors. The Committee will contribute to the efficient implementation of the Company s strategy and increase its competitive advantage amid a trend towards the active adoption of digital technologies in the industry. The Board of Directors also approved a schedule of meetings and formed committees, two of which consist of a majority of independent directors.
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 1 8 million tonnes per year . 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
· Benedict Sciortino The date of the AGM and its agenda will be approved by the Board of Directors and published at a later time . Candidate s background Jane Zavalishina is the President and Co-founder of Mechanica AI B.V. and a faculty member of Singularity University Benelux. Throughout her career, Jane has always focused on applying innovative technologies to create new and transform traditional businesses. She joined Yandex in 2000 as its Chief Product Officer, later to take the position of CEO of Yandex.Money, an e-commerce payment service. In 2014 she took leadership of Yandex Data Factory, a new business unit focused on enterprise machine learning solutions. In 2018 she co-founded Dutch tech start-up Mechanica AI, a provider of AI-based solutions for the industrial sector.
VSMPO, Boeing sign long-term contract to supply titanium products
YEKATERINBURG. Jan 26 (Interfax) - PJSC VSMPO-Avisma Corporation and Boeing have signed a long-term contract to supply titanium products, the Russian titanium producer s press service told Interfax.
The contract stipulates that VSMPO-Avisma will supply Boeing and its suppliers with titanium forgings to meet the requirements to manufacture civil aircraft of various models, specifically Boeing s 787 Dreamliner, 777, 767, and 737 airplanes.
VSMPO-Avisma said in a press release that Ural Boeing Manufacturing, a joint venture between VSMPO and Boeing, would machine many of these forgings at its facility located in Verkhnaya Salda.
In addition, as part of a previously signed separate contract VSMPO will continue to supply titanium mill products to Boeing and its participating suppliers.
losses of global airlines due to the coronavirus
pandemic may amount to about $160 billion. The president of Boeing for Russia and the CIS Sergey Kravchenko expressed his opinion in an interview with the TV channel Russia 24 . I think airlines will lose money. This year they will lose about $160 billion, he said.
According to Kravchenko, due to restrictions related to the coronavirus
pandemic, airlines use only 50% of their capacity.
Previously, the Federal Air Transport Agency provided Russian airlines with compensation for the reduction of passenger traffic against the background of the
pandemic worth of 13.6 billion rubles from a possible revenue of 20.95 billion rubles, and for airports – 9.1 billion rubles from 10.9 billion rubles. /BGNES and TASS