Severstal Acquires Sintex-CIP and Sintez PP
Russian steelmaker Severstal, a Metal-Expo regular exhibitor, has completed the acquisition of 100% of the shares of Sintez-CIP Ltd and Sintez PP Ltd, the owners of the only producer and supplier of carbonyl iron powders in Russia and the CIS region. Sintez-CIP will become part of Severstal's metalware manufacture division and will be under the operational management of Sergey Kovryakov, CEO of Severstal-metiz.
Sintez-CIP is based in Dzerzhinsk, Nizhny Novgorod Region, and produces a wide range of unique carbonyl iron powders for high-tech firms around the world. Carbonyl iron is widely used in electronics, primarily in the automotive industry (electronics in cars, electric vehicles), as well as in the manufacture of household appliances, mobile phones, computers, and televisions. It is also used in various powder metallurgy processes, metal injection moulding technologies, the production of diamond tools and artificial diamonds, the production of magnetorheological fluids (that change viscosity when exposed to electromagnetic radiation, and are also used in the automotive industry and mechanical engineering), not forgetting food supplements (carbonyl iron is a product that can be used as a dietary supplement containing iron).
According to Severstal, Sintez-CIP is the second largest producer of these products globally, with approximately 10% of the market share. The company produced more than 1,500 tons of finished goods last year. More than 95% of the company’s sales are export sales.