Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has sold its 35 percent stake in a steel service center in Tatarstan established jointly with the Turkish company Coskunoz Alabuga, according to media reports.
MMK has transferred its stake in the service center located in the Alabuga special economic zone to Coskunoz Alabuga, with the latter now becoming the sole owner of the enterprise.
The annual production capacity of the service center is up to 60,000 mt of steel blanks for automotive components, as SteelOrbis previously reported. The annual capacity is planned to be increased to 150,000 mt.
