Fletcher Group consolidates service functions into Corporate Solutions Centre

NLMK Group, an international steel company, has sold 100% of its stake in NLMK Accounting Centre to Fletcher Group Holdings Limited for a total of 23.9 million rubles.

NLMK Accounting Centre will be used as a platform for setting up a single service company, NLMK Corporate Solutions Centre, that will provide services to NLMK Group companies and Universal Cargo Logistics Holding (UCL Holding), an international transport group, including Freight One (PGK). This transaction will ensure a balance of interests of all the businesses serviced by the new centre.

NLMK Corporate Solutions Centre will offer support for corporate functions, including accounting and taxation management, HR document flow, treasury, and procurement processes.

The goal of setting up a single centre for corporate solutions is to improve operational efficiency through standardization and optimization of supporting processes and control procedures, to introduce best practices, promote IT tools, and establish competence centres.

NLMK Corporate Solutions Centre will be headed by Nelly Mescheryakova. Nelly held the position of NLMK Group’s Director for Corporate Finance until the end of 2018.