The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that its Intercos-IV subsidiary has commissioned the first stage of the MMK-Intercos service center and stamped components plant in St. Petersburg.
Accordingly, the Ruble 4.018 billion (about $128 million) invested in the commissioning of the MMK-Intercos service center will result in over 250,000 mt per year of ready-made metal products. The construction of the project's second stage is expected to start in 2011.
Prefabricated sheets and stamped products along with pressed-and-welded components will be supplied to car giants, including Ford Motor Company, General Motors Company, Nissan Motor, Hyundai Motor Company and Renault Group. MMK-Intercos will also ship its products to domestically and globally operating manufacturers of appliances, such as Bosch und Siemens Hausgerate GmbH, LG Corp. and Indesit Company, to the construction sector, machine-builders and shipbuilders, and to some other selected industries.
"To meet our customers' demands even more efficiently, we will directly ship flat products from MMK for further processing at MMK-Intercos. In perspective, this newly-opened facility will process cold rolled auto sheets shipped from the mill 2000 currently under construction at MMK," MMK chairman Victor Rashnikov stated.