  news
20 June 2008
Orelcord, a subsidiary of the Group of companies Severstal-metiz, has approved a substantial Development Program covering the years 2008 to 2014
According to the business plan, within five years the investments in Orelcord are expected to generate 60 million dollars. The programme will concentrate not only on capacity expansion and equipment modernization, but also on advanced manufacturing technologies and new product development.
“Six months ago the Group became the only owner of the company. Since then, the Development Program has been revised and considerably expanded” – says the CEO of Orelcord Alexey Erenichev. “We have identified the areas in which we wish to invest, and developed a principally new pattern of relationships in the supply chain for reinforcing materials – tyres, capable of providing maximum business efficiency for our current and po-tential customers (tyre producers, located in the CIS and Europe) in today’s market conditions”.
The detailed Development Program of the Company will be presented at a press-conference planned for the 25th of June, in Moscow.
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Orelcord is a subsidiary of the Group of companies Severstal-metiz and produces steel tyre cord. It was founded on the 1st of July, 2005 in Orel (until December, 2007 it was known as TA Rus – the joint venture of companies Severstal-metiz and ArcelorMittal, and before that until the 9th of February, 2006 – TA Cord).
The company is a leading producer of steel tyre cord and bead wire in Russia and the CIS. The customers of Orelcord operate tyre manufacturing plants in Russia and the Ukraine.
In 2007 the production volume of Orelcord was 24.6 thousand tons.
In 2006 the Company achieved the certification of quality management system ISO 9001. In 2008 it acknowledged the certification.
Alexey Erenichev is the CEO of Orelcord.
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