The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that its subsidiary Intercos-IV has begun working on the first phase of the second stage of the MMK-Intercos service center and stamped components plant in St. Petersburg, the commissioning of which will be done on a phase-by-phase basis.
Accordingly, the first phase of the MMK-Intercos second stage will be deployed at the premises of the already-built service center. The pressing equipment is planned to be commissioned by late April this year. In the meantime, MMK is working on the acceptance of its rolled products by potential consumers - automakers and home appliance manufacturers.
It is envisaged that the total investments in the second stage of the service center and stamped components plant will reach Ruble 4 billion ($142 million). The volume of processed metal is expected to be 110,000 mt.
The first stage of the MMK-Intercos service center and stamped components plant was commissioned in November 2010 to produce over 250,000 mt per year of ready-made metal products.
MMK-Intercos's prefabricated sheets and stamped products along with stamped-and-welded components will be supplied to car giants (whose plants are already in operation or under construction in Russia) and their suppliers - Ford Motor Company, General Motors Company, Nissan Motor, Hyundai Motor Company and Renault Group, Volkswagen, PSA, Magna, Johnson Controls, Tenneco, etc. MMK-Intercos will also ship its products to domestically and globally operating manufacturers of home appliances such as Bosch und Siemens Hausgerate GmbH, LG Corp., Indesit Company and others.