Intercos-IV launches construction work on the 2nd stage of its new plant in Russia

ST. PETERSBURG, Russia - Intercos-IV, a part of Magnitogorsk Iron & Steel Works group has "began working on the 1st phase of the 2nd stage of the MMK-Intercos service center and stamped components plant in St. Petersburg" - says an official press release from the company.

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. 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.

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 directly to car manufacturers and also to their suppliers.

Previously Intercos-IV was only a Tier 2 supplier, with clients like Gestamp and Shin Young. With this new investment, the company will be able to serve car makers directly.