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Printed from: http://petersburgcity.com/news/business/2002/05/31/news2839/ Business news, 31.05.2002 19:47 Uddeholm Tooling AB Has Established a Daughter Company in St. Petersburg, JSC Uddeholm Tooling SNG.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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