Russia: MMK named among best enterprises by WWF

The rating was initiated by the World Wide Fund for Nature (WWF) of Russia and the United Nations Environment Programme (Russian Federation Mission). The rating was carried out by the National Rating Agency on the basis of data on the activities of companies, which was publicly available (reports, reports, media, official websites of companies). The…

Russia: Belon suing MMK for $160 million

The minority shareholders of Belon demand MMK, owning over 95% in the company, to buy coal assets and not reorganize them. They also estimate the company losses at 10.7 billion rubles ($160 million). The reorganization was carried out in 2015-2017. The minority shareholders, who have filed the claim, hold 1.3% in Belon. MMK entered the…

Russia: Standard&Poor’s assigns MMK “BBB-” rating, Outlook Stable

On December 10 rating agency S&P Global Ratings assigned the PJSC Magnitogorsk Iron & Steel Works’ (MMK) “BBB-/A-3” long- and short-term issuer credit ratings with Stable Outlook. In a press release S&P notes that its assessment of MMK’s creditworthiness incorporates MMK’s low-cost production profile, strong operating efficiency, significant share of high value-added products in sales,…

Russia: new appointments at MMK

In accordance with the order of the General Director of PJSC MMK, some appointments have been made. In particular, Sergey Ushakov, who previously held the position of Deputy General Director for Production, was appointed Deputy General Director for Sales of PJSC MMK. Oleg Shiryaev, who previously held the position of Director of OJSC MMK-METIZ (Magnitogorsk…