The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) fell by 25.9% YoY, to $497 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 1. Revenue went down by 7.8%, to $3.835 billion in the period. Earnings before interest, taxes, depreciation, and amortization…
Magnitogorsk was removed from the list of Russian cities with very high levels of air pollution, according to a report by the Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet) in 2018. Thanks to MMK’s large-scale environmental program, the Comprehensive Air-quality Index (CAI) indicator for the city will have been reduced to a low level…
At the Magnitogorsk Iron and Steel Works (MMK) there are already 16 software robots successfully imitating the actions of real workers. By the end of 2019, the company plans to have automated a total of 32 manufacturing processes. The head of the MMK-InformService project office, Valery Rybolovlev, spoke about the company’s automation during the Digital…
Magnitogorsk Iron and Steel Works (MMK) has put into operation an automatic control system of steam boilers, which power the plant. This will increase energy efficiency, as well as provide a significant reduction in harmful emissions into the atmosphere. The introduction of the system will save more than 85 million rubles per year. The project…
Magnitogorsk Iron and Steel Works (MMK) has commissioned sinter plant No. 5, the only one of its kind in Russia. The facility has a capacity of up to 5.5 million tons of sinter per year. MMK’s new sinter plant is equipped with state-of-the-art equipment, allowing it to obtain high-quality sinter, and it operates using the…
Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) reduced its steel output by 0.5% QoQ, to 3.091 million tons in April-June, while cast iron production rose by 2.3%, to 2.452 million tons, the company said in a statement. In January-June it raised its steel production by 0.4% YoY, to 6.198 million tons. Cast iron production…
Magnitogorsk Iron and Steel Works (MMK) was named the best exporter of high technology products among enterprises in the Urals Federal region of Russia. The winners of the “Exporter of the Year” awards were announced as part of the Global Manufacturing & Industrialization Summit 2019, held on July 9-11 in Yekaterinburg. MMK won the regional…
In the Magnitogorsk Iron and Steel Works (MMK) long products shop, the overhaul of the two-thread fine-wire mill 170 was completed. Repair works on the unit were carried out simultaneously with the reconstruction work. As part of the modernization of the mill, which took place from May to June, the heating furnace was reconstructed, the…