The Intercos-IV Company, part of the MMK Group, began working on the 1st phase of the 2nd stage of the MMK-Intercos service center and stamped components plant in St. Petersburg
To date, design and engineering work is accomplished, pressing equipment ordered and paid for. As part of the 1st phase, construction is currently in progress, communications and utilities are being put in place.
The 1st phase of the MMK-Intercos 2nd 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 appliances manufacturers.
It is envisaged that the total investments in the 2nd stage of the service center and stamped components plant will reach RUR4 bn. The volume of processed metal is expected at the level of 110,000 mt.
The first stage of MMK-Intercos service center and stamped components plant was commissioned in November 2010 to produce over 250,000 mtpy of ready-made metal products.
Intercos-IV output is designed for automakers, household appliances manufactures, construction sector, machine- and shipbuilders and some other selected industries. 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 manufactures of home appliances such as Bosch und Siemens Hausgerate GmbH, LG Corp., Indesit Company and others.
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. MMK realizes MMK-Atakas project in Turkey with annual capacity of 2.3 mln tons of flat steel. In 2010 the company produced 11.4 mln tons of crude steel and 10.4 mln tons 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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