Russia: MMK-Metiz management system level confirmed

MMK-Metiz has successfully passed the inspection for the correspondence to three international standards, two of which regulated quality management control and the third – the environment management control. In particular, the standards are IATF 16049:2016 (quality management system for car manufacturers), ISO 9001:2015 (quality management system) and ISO 14001:2015 (environment management system). The company has…

Russia: MMK-Metiz puts new machinery into operation

MMK-Metiz has commissioned a new machine to produce ropes and wire.

The first stage of the machine will produce high-carbon wire and steel ropes with the total capacity of over 43 thousand tons per year.

The cost of the project is 1.5 billion rubles.

The second stage will be commissioned in Q4. (Ukrainian metal)

Russia: MMK-Metiz income up in 2017

In 2017 MMK-Metiz increased metal output by 7% YoY, to 437.9 thousand tons.

According to the company statement, sales revenue grew by 23.9%, to 20.4 billion rubles.

Ordinary wire accounted for 36% of the revenue, ordinary fasteners – 12% and powder wire and ropes – 10% each. (Ukrainian metal)

Russia: MMK-Metiz net profits up in 2017

In 2017 MMK-Metiz increased net profits 3.4-fold, to 1.26 billion rubles, In Q4 2017 the company received 170.8 million rubles of profits, down from 393 million rubles in Q3 2017. In Q4 2017 MMK-Metiz sold 5.28 billion rubles worth of metal wares, down by 5% QoQ. Consolidated revenue in 2017 totaled 20.456 billion rubles, up…

Russia: MMK-Metiz to increase minimal salary

MMK-Metiz is going to increase the size of the minimal salary.

As of January, the average salary at the works was 46.7 thousand rubles. In 2017 it increased by 8.4%.

The company collective agreement, approved last spring, was awarded the second place at the regional competition. (Ukrainian metal)

Russia: MMK-Metiz investment program approved

Magnitogorsk Iron and Steel Works board of directors has approved of the investment program for MMK-Metiz.

Capital investments will total 3.8 billion rubles. The program is intended to run through 2020.

MMK-Metiz was created in 2003. (Ukrainian metal)