MMK is reconstructing its hot-rolling mill-2500 in the sheet-rolling shop No. 4. The project will increase the size and grade portfolio of the mill and improve the quality. The capacity will grow from 4 to 5 million tons of metal per year. (Ukrainian metal)
In July MMK hot-rolling mill-2000 produced 527.955 thousand tons of metal, having set a new monthly output record. The previous record was set in May, when the mill produced 527.505 thousand tons. The mill, commissioned in 1994, is one the most powerful machines in Russia. It is situated in the sheet-rolling shop No. 10. In…
The construction of a separating dam at Magnitogorsk Reservoir, part of rebuilding processes of Magnitogorsk Iron and Steel Works’ (MMK) circulating water supply system, is entering its final stages. The project, at a cost of approximately 660 million rubles, will significantly reduce the environmental burden on the reservoir. This is one of MMK’s most important…
MMK has joined the participants of the Chelyabinsk – Yekaterinburg High-Speed Railroad project. The contribution of the company is 10 million rubles. MMK will cover the needs of the project in metal. (Ukrainian metal)
At Magnitogorsk Iron and Steel Works (MMK), the total economic impact of the introduction of innovative proposals amounted to 269 million rubles in the first half of 2018. In the first six months of the year 2,533 ideas were examined by expert committees. 1,857 ideas, or 73.3% of the submitted ideas (63.8% in H1 2017),…
The first stage of the modernization of the sandwich-panel production line was completed at the MMK Trading House production site in Shelkovo (the Moscow region). In early August together with representatives of the Italian company “Magma”, specialists of the company commissioned a new glue system. This equipment improves the quality of the gluing process, allowing…
MMK has delivered a trial batch of metal to Turkey via railroad Magnitogorsk – Baku – Tbilisi – Kars. Now the company is negotiating with Azerbaijani ADY Express the ways to supply up to 250 thousand tons of metal per year via this route. 4 containers with the total weight of 120 tons have been…
In January-June MMK net profit increased by 24.7% YoY, to $671 million. Revenue grew by 16%, to $4.16 billion. EBITDA went up by 33.4%, to $1.21 billion. The group debts as of late June totaled $521 million. “The high financial results allowed the Board of directors to recommend paying $281 million of dividends for Q2”,…