Magnitogorsk Iron and Steel Works (MMK) has been one of the winners at the Russian Business Leaders: Dynamics and Responsibility competition, which is held every year by the Russian Union of Industrialists and Entrepreneurs (RSPP). The company secured a victory in the category “Development of Human Resources”. The awards ceremony took place in Moscow on…
In 2017 MMK increased its net profit by 7% YoY, to $1.189 billion. According to the company statement, its revenue grew by 34%, to $7.546 billion, with EBITDA up by 3.9%, to $2.032 billion. Last year MMK produced 12.86 million tons of steel, 10.163 million tons of pig iron and 11.333 million tons of rolled…
The board of directors of Russia’s Magnitogorsk Iron and Steel Works (MMK) has recommended paying 0.806 rubles per common share in dividends for 2017, the company said in a statement on February 6. In 2017 the company paid 0.869 rubles per share in dividends for January-June and 1.111 rubles per share, or a total of…
MMK has put in operation a new car dumper No. 5 at the site No. 2 of the aggloburden preparation shop. The capacity of the dumper is 20 cars per hour. The capacity of the sintering factory being constructed is 16.5 thousand tons of sinter a day, for which 17 thousand tons of burden is…
On January 29 Moody’s rating agency upgraded the MMK Issuer Rating to “Baa3” from “Ba1” with positive outlook. Andrey Eremin, MMK’s Director for Economics, commented: “We at MMK are satisfied with the increased issuer rating. This is a proof that MMK has correctly formulated its strategic development priorities and introduced quite efficient tools to implement…
Magnitogorsk Iron and Steel Works’ (MMK) cold-rolling mill 2000 has produced 10 million tons of finished products. Launched in 2011, the unit is one of MMK’s most modern and high-tech facilities. Mill 2000 has a production capacity of 2,100,000 tons per year and is a key element of PJSC MMK’s new cold-rolling complex at sheet…
In 2017 MMK increased steel output by 2.5% YoY, to 12.86 million tons. According to the group statement, pig iron manufacture grew by 5.3%, to 10.163 million tons, and rolled metal – by 0.1%, to 11.331 million tons. Sales to Russia and CIS increased by 3.6%, to 8.528 million tons, at the same time exports…
A delegation of specialists from Magnitogorsk Iron and Steel Works (MMK) headed by the company’s CEO Pavel Shilyaev made a working visit to the Lysva Iron and Steel Works in the Perm region. During the visit Pavel Shilyaev met with the governor of the Perm region Maxim Reshetnikov. He presented to the head of the…
