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Uddeholm Tooling AB Has Established a Daughter Company in St. Petersburg, JSC Uddeholm Tooling SNG.
05.31.2002 19:47

The Swedish tool steel producer is now about to start sales of special steel on the Russian market, estimated to 70 000 tons a year. In a long perspective, Uddeholm Tooling AB estimates that they will have a market share of about 10 per cent. In some segments of the market the company believes to be able to catch a market share of 30-50 per cent, according to Göran Vallner, chairman of the board of directors. The company is expecting to get about 10 000 Russian customers. Uddeholm is already a well-known trademark in Russia as a few Russian companies have been trading its products in the country. Uddeholm is now given more opportunities on the Russian market and has a Russian partner, ZAO Interkos-IV, which owns 30 per cent of Uddeholm Tooling SNG. Production of tool steel is a small and relatively expensive part of the metal industry. The total production in the world is estimated to a few hundred tons per year. The total turnover of the market is about 1.5-2 billion USD. Uddeholm has about 10 per cent market share of the world market.

News source: Business Petersburg
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