ThyssenKrupp, Imstalkom create JV

German ThyssenKrupp and the Foundation Sustainable Development "Kazyna", acting as the superior entity for the economic development of the Republic of Kazakhstan, had held talks on enlarging of their ties in Astana, Kazakhstan on September 5 and 6, 2006. As a result, an agreement to create a joint venture between JSC Imstalkon and ThyssenKrupp on production and processing of ferroalloys and metals has been reached. A representative of ThyssenKrupp commented to SteelOrbis that ’commercial relations between ThyssenKrupp and Kazakhstan have a longstanding history of more than 20 years. Kazakhstan is with about 100,000 tons p.a. an important supplier of raw materials for ThyssenKrupp. On the other side ThyssenKrupp delivers highly developed technological solutions to Kazakhstan”. ThyssenKrupp considers Kazakhstan to be one of its most important commercial partners in the former CIS and believes that there is still a lot of potential for further cooperation. ThyssenKrupp intends to enlarge its investments in Kazakhstan substantially over the next few years, said the representative of ThyssenKrupp.