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04 June 2007

SEVERSTAL METIZ Takes Full Control of ChSPZ-MKR

Russia's SEVERSTAL METIZ company has bought out a 50% stake in the ChSPZ-MKR joint venture from the Czech MKR company, bringing its total holding to 100%. The JV has been renamed UNISPRING. MKR stated it had decided to sell its stake in the JV after losing interest in spring production. For its part, the Russian side is interested in developing the JV and converting its production to output of value added goods. UNISPRING is now busy raising its internal cost-effectiveness. Over time, there are plans to devise an investment program for the enterprise.

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