Russia-based MMK, a large flat steel producer and exporter, has recently signed a cooperation agreement with Turkey’s Coskunoz Holding.
The companies are targeting to develop the cooperation in the field of hot stamping in Russia and to also handle the works, related to engineering research and products prototyping. Both sides are expected to benefit and strengthen their positions in the Russian market.
MMK and Coskunoz are already operating a successful joint business in Russia as they are running a service center, which was launched back in 2018. The asset is concentrating on the production of steel semi-finished products to be used in automotive parts manufacturing.
Overall, the partners underline the importance of the mentioned cooperation in terms of strengthening its positions as a supplier to the local automotive sector. “Russia is a strategically important region for Coskunoz and MMK has a serious investment in Turkey and large development potential. Owing to the partnership and the mutual synergy Coskunoz will be able to strengthen positions in the Russian automotive market,” Coskunoz representative said.