Russia: MMK taking part in SteelStructures’2019

PJSC Magnitogorsk Iron and Steel Works (MMK) and OJSC MMK-METIZ are among the exhibitors at the 4th specialist exhibition “SteelStructures’2019” which opened in Moscow. At the MMK and MMK-METIZ stands, visitors can see a wide range of products and technical capabilities that are of interest to manufacturers of steel structures, as this is an important…

Russia: MMK presenting products in Italy

Made in Steel-2019 exhibition has started in Milan.

Italy is traditionally one of the major MMK partners in Europe.

The company delegation at the exhibition is headed by Oleg Fedonin, director of the foreign activity and sales to car manufacturers department. (Ukrainian metal)

Russia: MMK output down in Q1 2019

In January-March, MMK decreased steel output by 1.3% YoY and by 0.2% QoQ, to 3.107 million tons. Pig iron manufacture decreased by 0.3% YoY and by 6.3% QoQ, to 2.396 million tons. Sales dropped to 2.782 million tons, by 5.2% QoQ and by 1.6% YoY. High added value products sales in Q1 remained almost on…

Russia: Fitch Ratings upgrades MMK to BBB

On April 8, the rating agency Fitch Ratings upgraded company’s Long-Term Issuer Default Rating to BBB from BBB- with Stable Outlook. In its press release Fitch Ratings notes that the rating upgrade reflects MMK’s ability to maintain a conservative financial profile during market turbulence due to the company’s low cost of operations, focus on high-value…

Russia: MMK upgrades corporate information system

Magnitogorsk Iron and Steel Works (MMK) has successfully adopted a new corporate information system (CIS) based on Oracle e-Business Suite v.12 technology. The previous version of Oracle e-Business Suite (EBS) has been used by MMK since 2004. MMK’s incorporation of Oracle EBS into its corporate information system has been recognized by Oracle as the most…

Russia: MMK presents innovative technologies in Moscow

Magnitogorsk Iron and Steel Works (MMK) is taking part in the 22nd Archimedes Moscow International Salon of Inventions and Innovative Technologies. This year, MMK’s innovative potential is showcased by four patented technologies in the field of cold-resistant metal rolling designed for icebreaker fleets, marine and engineering equipment used in the Arctic. The competitive advantages of…

Russia: MMK domestic shipments up in 2018

Magnitogorsk Iron and Steel Works’ (MMK) shipments of commercial metal products to the domestic market, including CIS countries, amounted to 9.029 million tons in 2018. This represents an almost 6% increase from the previous year. This constitutes the second largest shipment volume to the domestic market since 2014, when the shipments of metal products amounted…

Russia: MMK increases production energy efficiency

Magnitogorsk Iron and Steel Works (MMK) invested around 500 million rubles into the continued implementation of initiatives aimed at improving the energy efficiency of its production processes in 2018. One of the key tools of energy efficiency improvement is through the elaboration and implementation of relevant innovation proposals. Back in 2016, an Idea Management unit…

Russia: MMK Board meeting results

PJSC Magnitogorsk Iron and Steel Works Board of Directors held a meeting on March 1. The Board approved May 31 as the date for the Annual General Meeting of Shareholders (AGM) of the company. The cut-off date for inclusion in the shareholder register for the AGM is May 6 at the close of trading on…