PJSC Magnitogorsk Iron & Steel Works (MMK) has signed a contract with SMS group GmbH (Germany) regarding the supply of equipment to be used in the reconstruction of the finishing train of hot-rolling Mill 2500 at sheet rolling plant No. 4. Under the terms of the contract, the equipment will be supplied over a period…
Trading house MMK has opened a new office in the city of Shymkent. This is the fifth site of the company in Kazakhstan. The warehouse site is equipped with 2 cranes and is situated near the highway to Astana. The site offers all the product range of MMK: hot- and cold-rolled metal, rebars, sections, coated…
Magnitogorsk Iron and Steel Works (MMK) has been one of the winners at the Russian Business Leaders: Dynamics and Responsibility competition, which is held every year by the Russian Union of Industrialists and Entrepreneurs (RSPP). The company secured a victory in the category “Development of Human Resources”. The awards ceremony took place in Moscow on…
In 2017 MMK increased its net profit by 7% YoY, to $1.189 billion. According to the company statement, its revenue grew by 34%, to $7.546 billion, with EBITDA up by 3.9%, to $2.032 billion. Last year MMK produced 12.86 million tons of steel, 10.163 million tons of pig iron and 11.333 million tons of rolled…
The board of directors of Russia’s Magnitogorsk Iron and Steel Works (MMK) has recommended paying 0.806 rubles per common share in dividends for 2017, the company said in a statement on February 6. In 2017 the company paid 0.869 rubles per share in dividends for January-June and 1.111 rubles per share, or a total of…
MMK has put in operation a new car dumper No. 5 at the site No. 2 of the aggloburden preparation shop. The capacity of the dumper is 20 cars per hour. The capacity of the sintering factory being constructed is 16.5 thousand tons of sinter a day, for which 17 thousand tons of burden is…
On January 29 Moody’s rating agency upgraded the MMK Issuer Rating to “Baa3” from “Ba1” with positive outlook. Andrey Eremin, MMK’s Director for Economics, commented: “We at MMK are satisfied with the increased issuer rating. This is a proof that MMK has correctly formulated its strategic development priorities and introduced quite efficient tools to implement…
Magnitogorsk Iron and Steel Works’ (MMK) cold-rolling mill 2000 has produced 10 million tons of finished products. Launched in 2011, the unit is one of MMK’s most modern and high-tech facilities. Mill 2000 has a production capacity of 2,100,000 tons per year and is a key element of PJSC MMK’s new cold-rolling complex at sheet…
