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Severstal, Gestamp launch plant to product Volkswagen components
14.07.2010
Severstal and Spain's Gestamp have launched a joint stamping manufacturer, Gestamp-Severstal-Kaluga. In a press release, the Russian company indicated that the joint venture would be producing body parts for the Volkswagen plant located in the same industrial area. The new venture is rigged with a few pressing lines. Gestamp-Severstal will cater for the entire rolled metal processing chain - from a roll to a car component. Its output is projected at 13m pressed parts a year, with VW, PSA and Renault-Avtoframos slated as its main customers.
Investment in the project reached EUR 89m, including EUR 39.5m spent on equipment. Severstal controls a blocking stake in the joint venture.
www.rbcnews.com/
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