06 October ‘11

MMK Announces New Appointments at Interkos-IV

Mr. Gan  was previously an executive at the auto parts manufacturer Benteler Automotive and at the Sollers Naberezhnye Chelny car manufacturing plant. Timur Shoshtaev, the former director and one of the founders of Interkos-IV, was appointed adviser to Interkos-IV chief executive.  

MMK CEO Boris Dubrovsky said: “This appointment will enable us to more efficiently meet the needs of the large cluster of car manufacturers that has formed in the northwestern region of Russia. Our shipments to auto manufacturers are on track to reach planned levels, and we have reinforced our management team to ensure the effective sales and marketing of our products.”

The first phase of the MMK-Interkos stamped components and forged steel service factory was commissioned in November of last year, with an annual production capacity of more than 250 kt of steel products. A second production line is currently in design stage.

Interkos-IV produces steel products intended for automobiles, household appliances, the construction industry, mechanical engineering, shipbuilding and other industries. Prefabs, stamped parts and components are designed for automobile manufacturers and parts suppliers, including Ford, General Motors Company, Nissan, Hyundai, Renault Group, Volkswagen, PSA, and Magna, as well as for home appliances manufactured in Russia and overseas by Bosch und Siemens Hausgerate GmbH, LG Corp., Indesit Company, and others.

About MMK

MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. In 2010 the company produced 11.4 mln tonnes of crude steel and 10.4 mln tonnes of commercial steel products. MMK Group revenue in 2010 stood at USD 7.719 bn, EBITDA at USD 1.606 bn, profit for the period - USD 232 mln.

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