BakuMetall to be Established in Azerbaijan

Business Materials 20 February 2008 15:00 (UTC +04:00)

Azerbaijan, Baku, 20 February / Trend / Permmetall, a big supplier of metal-roll in the Perm Territory of Russia, plans to open two enterprises in CIS (Commonwealth of Independent States) countries, Azerbaijan and Uzbekistan. According to Metalinfo, the company will establish BakuMetall in Azerbaijan and TashkentMetall in Uzbekistan.

Some $2mln is expected to be invested in establishing the companies. The project will be implemented with funds from Permmetall loans from partner banks.

The subsidiary companies of Permmetall in Azerbaijan and Uzbekistan are expected to contribute $2mln to trade turnover in the first two years of their establishment. The companies will aim to hold35% of the market in metal production sale. TashkentMetall and BakuMetall plan to sign a deal with big consumers of metal-roll, machine-building companies of CIS.

Permmetall was founded in 1925. It supplies leading metal companies of Russia. Their number of customers exceeds 9,000.

Permetall mainly supplies ferro-concrete reinforcement, girders, and non-ferrous metals and supplies industrial, construction, repair companies and refineries with metals of all kinds.