EVRAZ signs a Memorandum of Understanding with GHH-Valdunes International

EVRAZ and GHH-Valdunes International (“GHH-Valdunes”) have signed a Memorandum of Understanding that outlines both parties’ intention to collaborate in the marketing and distribution of their steel wheel products. A final agreement is expected to be signed in December, 2012.

Ilya Shirokobrod, Vice-president and Head of EVRAZ’ railway products division said: “We welcome this opportunity to collaborate with GHH-Valdunes and thereby expand our product offering and geographic coverage in the promising international market for railway wheels. GHH-Valdunes is a company with an excellent reputation and we are sure that the new arrangement will bring significant benefits for both parties and their customers”.

Raimund Abele, CEO of GHH-Valdunes, added: “We are delighted to be able to team up with EVRAZ. EVRAZ’ considerable experience and expertise in the steel and metallurgical industry makes us confident that our future collaboration will enable GHH-Valdunes to maintain its position as a leading player in the European rail-wheel sector and to develop its presence in the CIS markets”.