Russia: ММК Turkish sales down in Q4 2019

Metal product sales of ММК Metalurji, a Turkish affiliate of Russia’s Magnitogorsk Iron and Steel Works (MMK), decreased by 15.9% QoQ, to 158,000 tons in October-December 2019 due to a tough market situation, MMK said in a statement on January 21. In the whole of 2019, the sales fell by 6.2%, to 720,000 tons, it…

Russia: MMK implements new marking technologies

Magnitogorsk Iron and Steel Works (MMK) has implemented a system for recording multi-turn actuators using modern marking technology in the form of radio frequency identification tags (RFID). Marking with RFID tags has replaced the process of applying information manually with paint and barcoding. The goal of implementing the new technology is to improve the quality…

Russia: MMK shareholders approve Q3 2019 dividends

The shareholders of Magnitogorsk Iron and Steel Works (MMK) have approved July-September 2019 dividends at 1.65 rubles per share, the company said. “A decision to pay dividends for the third quarter of the reporting year 2019 in the amount of 1.65 rubles per common share (tax included) was voted by the majority,” the statement said.…

Russia: MMK names new Head of Investor Relations

Magnitogorsk Iron and Steel Works (MMK) has appointed Veronika Kryachko as Head of Investor Relations. Veronika Kryachko brings with her years of experience in the metals, raw materials and financial sectors. Prior to taking up her current job, she held senior positions in investor relations, corporate development and M&A at companies including Uralkali, Rusal and…