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)