Maxi Group. a subsidiary of the Russian steelmaker Novolipetsk Steel, has announced that the shareholders of its production facility Nizhne Serginsky Metallurgical and Metalware Plant have decided in favor of the incorporation of Berezovsky Electrometallurgical Plant, also a Maxi Group subsidiary within NSMMZ.

Accordingly, the move is aimed at improving performance to reduce managerial, administrative and other costs and at the consolidation of the production chain within a single legal entity.

(Sourced from SteelOrbis)