Russian car maker Severstal-Auto and UK automotive products supplier Stadco plan to set up a pressings joint venture, Severstal-Auto said on Monday.
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The joint venture will be located in the special economic zone of Yalabuga in Russia’s constituent republic of Tatarstan, Severstal-Auto told Prime-Tass news agency.
The joint venture will produce parts for Fiat Ducato models, which Severstal-Auto said earlier it planned to produce in Yalabuga from late 2007. The automaker plans to invest about $130m in the project and expects to produce 75,000 units a year.
Stadco’s core capabilities are aluminium and steel pressings, assemblies and product and facility design. Its partners include Ford, BMW, Toyota and Volkswagen. Stadco has six facilities in Europe and a plant in India.
Severstal-Auto, also known as Severstal-Avto, was set up in March 2002. The company’s assets comprise Ulyanovsk Automobile Plant (UAZ), compact car producer ZMA, and Zavolzhsky Engine Plant (ZMZ). Severstal-Auto is part of Russian major steel producer Severstal Group, Prime-Tass noted.
