On the one hand, the acquisition of the controlling stake by MMK will boost the development of Intercos-IV. On the other, the transaction will secure MMK's position in the automobile industry's supply sector, especially taking into consideration the expectations that St. Petersburg will become a home for the assembly lines of Ford, Nissan and other world automakers by 2011.
MMK acquires a 75% stake in Intercos-IV
The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced the acquisition of a 75 percent stake in St. Petersburg-based Intercos-IV - a manufacturer of large-size stamping dies and stamping components for the automobile and white goods industries.
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