MMK commissioned stamped components plant in St. Petersburg

St. Petersburg, 22.11.2010.
CJSC "Intercosmos-IV», a member of the Group of Companies "MMK", in the presence of Prime Minister Vladimir Putin and St. Petersburg Governor Valentina Matviyenko has put into operation the first phase of the plant stamped components and steel service center in St. Petersburg.

Production of JSC "Intercosmos-IV» is focused on automotive, home appliances, construction industry, machine building, shipbuilding and other industries. The blanks, stampings and stamp-elements are designed and constructed for the existing car plants, such as enterprises Ford Motor Company, General Motors Company, Nissan Motor, Hyundai Motor Company, Renault Group, and others, as well as for the production of household appliances manufactured in Russia and overseas factories Bosch und Siemens Hausgerate GmbH, LG Corp., Indesit Company, etc.

Investment in the construction of the first phase of the plant "MMK-Interkos" amounted to 4.018 billion rubles. Annual production capacity of the first stage of the enterprise exceeds 250,000 tons of steel products. Start building the second phase of the plant is scheduled for 2011.

Chairman of the Board of Directors of OJSC "MMK" Victor Rašnikov said: "For us, the main priority is the most effective and high-quality steel-consuming industries to meet the demand of the Russian economy. This will be done, in particular, to promote the direct supply of sheet materials OJSC "MMK" for further processing at the production facilities of "MMK-Interkos." In the future, this facility will consume automobile body sheet from being built at MMK cold rolling mill in 2000. " According to the statement Rashnikova "camp in 2000 will provide domestic and overseas customers products with high added value, which will increase the competitiveness of JSC" MMK "and contribute to the development of related to metallurgy sectors of Russian industry." Rašnikov noted that "the new production facilities in St. Petersburg will provide additional jobs, including high-quality candidates that have a special social significance for the Northwest region of the country."

"Today we take another step toward creating a truly innovative economy that can withstand the tough international competition. The plant, which we open, modern and powerful production equipped with the technologies of the XXI century "- said the Governor of St. Petersburg Valentina Matvienko.

The Governor emphasized the importance of the fact that the company provides a full production cycle — from the creation of new technology to manufacture high-quality components. "Today in St. Petersburg successfully developed automobile industry cluster, we come to the work giants of the world automotive industry. They will be key partners of the new production, which opens in our city Magnitogorsk Iron and Steel Works ", — she said.

The governor stressed that he appreciated the existing partnership with Magnitogorsk metallurgical plant — one of the world’s largest steel industry.

CJSC "Intercosmos-IV»
The company "Intercosmos-IV» founded in St. Petersburg in 1992, specializes in the production of large-sized dies, molds weighing up to 70 tons and stamped parts for automakers and manufacturers of household appliances. In August 2007, JSC "MMK" has acquired 75% of shares of "Intercosmos-IV». The deal provided the JSC "MMK" presence in the steel market of the North-West region, and increased the influence of "MMK" in the supply of dies and components for foreign industrial companies in Russia.
"Intercosmos-IV» has the capability to provide a complete production cycle — from development to production stamping technology stampings. He has experience of serial deliveries to the assembly lines. The company cooperates with the world’s industrial leaders, and over the years has developed a significant customer base. Products are used in the production of all Russian enterprises of the automotive industry. The company is the official supplier of Ford Europe, Ford Russia, Volkswagen AG, working with General Motors Company, Hayes Lemmerz International, Inc. Hyundai Motor Company, Renault Group, Bosch und Siemens Hausgerate GmbH, LG Corp.

OJSC "Magnitogorsk Iron and Steel Works" is one of the world’s largest steel producers and is a leader among Russia’s steel industry. The company’s assets 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. MMK realizes MMK-Atakas in Turkey with annual capacity of 2.3 million tonnes of flat products. In 2009 the company produced 9.6 million tonnes of crude steel and 8.8 million tons of commercial products. MMK Group revenue in 2009 was $ 5.081 billion, EBITDA — $ 1,285 billion, the profit for the period — $ 219 million


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