Magnitogorsk Iron and Steel Works (MMK) has received a successful supervisory audit of its environmental management system by meeting the requirements of a new version of the international standard ISO 14001. Following the assessment, specialists representing the authoritative international certification body TÜV Nord Cert (Germany) confirmed that the system entirely met the requirements of the…
Magnitogorsk Iron and Steel Works (MMK) occupies the highest position among steel producers in the National Ratings of Procurement Transparency in 2017 in the “Private commercial buyers” category. The awards ceremony for the highest rated organizations took place at Russian Chamber of Commerce and Industry in Moscow. Among the participants were representatives from state, regional,…
Magnitogorsk Iron and Steel Works was awarded by Russia’s Ministry of Natural Resources and the Environment for its active environmental protection policy. Government experts awarded MMK top marks for its large-scale environmental projects this year. The awards ceremony took place on December 12 at the Ministry’s Federal Environmental Council in Moscow. MMK’s Director of Occupational…
Magnitogorsk Iron and Steel Works has been named one of the World Wildlife Fund’s Top Ten most environmentally responsible mining and metallurgic companies in Russia in 2017. MMK came eighth place in a list, the highest achievement for Russia’s iron and steel companies. The results of the study were presented at the UN office in…
Shareholders of the Magnitogorsk Iron and Steel Works decided to pay dividends for the operation in Q3 in the amount of 1.111 rubles per ordinary share. The total amount is around $209 million, or 59% of the company funds. This corresponds to the dividend profit of 2.5%. The shareholders entitled to receive dividends will be…
Magnitogorsk Iron and Steel Works has finalized the deal on the purchase of 100% of LMK Group. The group comprises of Lysva Metal Company, Lysva Iron and Steel Works and Insayur-Autotrade-TL Trade House. LMK Group is the only producer of electrolytic galvanized rolled metal with coating in Russia. Its total capacity is 350 thousand tons…
Shareholders of Lysva Iron and Steel Works have approved of the board of directors reelection and the cancellation of the management agreement with Lysva Metallurgical Company LLC, as well as attracting a 3-year loan of 4 billion rubles at 8% from MMK. MMK managers have also been elected to the board of directors. LMZ capacity…
MMK has received the approval of the Federal Antimonopoly Service for the purchase of Lysva Iron and Steel Works with the capacity of 360 thousand tons per year. Back in September MMK reported that it was regularly monitoring the M&A market and was ready to discuss the acquisition of prospective assets. At present neither MMK,…