Magnitogorsk Iron and Steel Works (MMK) has signed a contract with ETM on supply of electrical equipment. The contract allows MMK to order equipment directly through the ETM iPro Internet platform, which will significantly save procurement time and increase the efficiency of the company’s supply system. The agreement with one of Russia’s leading professional distributors…
Magnitogorsk Iron and Steel Works (MMK) saved 500.9 million rubles in 2018 through the use of a mathematical model to optimize the delivery and consumption of coal. These savings were achieved by improving the structure of coal charge and the quality of coke. This model is part of MMK’s large-scale digitalization strategy. The program is…
Magnitogorsk Iron and Steel Works (MMK) has partnered with Deloitte CIS to create a digitalization strategy for the company. The agreement was signed during the St. Petersburg International Economic Forum. MMK has decided to update its digital portfolio as part of the company’s overall development strategy up to 2025. To do this, Deloitte CIS will…
Magnitogorsk Iron and Steel Works (MMK) and the government of the Samara region have agreed to build a production and logistics center in Togliatti. Investments in the facility will reach 1.2 billion rubles. The agreement was signed during the St. Petersburg International Economic Forum (SPIEF). The governor of the Samara region Dmitry Azarov, Chairman of…
Magnitogorsk Iron and Steel Works (MMK) has opened a bidding book for $500-million 5-year Eurobonds with a yield guidance of 4.75% annually, a banking source reported. The company has been holding meetings with investors in Moscow, European and U.S. cities since May 30. Citi, J.P. Morgan and Societe Generale are the organizers. (Prime/Ukrainian metal)
The key priority of MMK’s environmental policy is the implementation of measures included in the Clean Air program, which is part of “Ecology”, the national environmental project. By 2025, MMK aims to have reduced air emissions by 26,300 tons per year, which together with urban environmental activities will allow for a 20% reduction in total…
Magnitogorsk Iron and Steel Works (MMK) confirmed its status as the largest supplier in Russia of rolled metal for the production of pipes. At the end of 2018, the company shipped 3.3 million tons of hot-rolled steel to the Russian market, of which more than a half was delivered to companies in the pipe industry.…
PJSC Magnitogorsk Iron and Steel Works (MMK) announced that on May 31 the Annual General Meeting of Shareholders was held in Magnitogorsk. The AGM approved the annual report and accounts for 2018 and the payment of dividends. Based on the results of Q4 2018, dividends will be paid in the amount of 1.398 rubles (before…
