28 Oct '10
Interkos-IV, which is part of the Magnitogorsk Steel group of companies, has plans to launch in November the first stage of its new stamped component plant in St. Petersburg, the parent firm said.
Any investment amount has yet to be specified.
The new facility will reportedly use automobile-body sheets to be produced at Magnitogorsk Steel’s prospective Stan-2000 cold rolling mill currently under construction in the base city of Magnitogorsk.
Interkos-IV reportedly sells its products to auto makers, including Ford, GM, Nissan, Hyundai, Renault and others; household appliances manufacturers like Bosch und Siemens, LG and Indesit; as well as developers, shipbuilders and some other sectors.
Magnitogorsk Steel is one of the world’s largest steel makers. It reportedly owns 75% of Interkos-IV.