In January-September MMK received $814 million of net profits, down by 9.9% YoY. According to the company statement, its revenue grew by 37.2%, to $5.598 billion, while EBITDA fell by 4% YoY, to $1.44 billion. In Q3 the company profits dropped by 7.1% QoQ, to $276 million, revenue grew by 4.5%, to $2.012 billion, while…
MMK has successfully confirmed the correspondence of its energy management system to the ISO 50001. The certification was obtained in September 2016. According to the company statement, the supervisory audit has confirmed that since the certification the energy management system has been corresponding to the standard and no inconsistencies have been found. The auditors have…
MMK has smelted the 800-millionth ton of steel, a record hit for all the country. The first steel was smelted on July 8, 1933 with the commissioning of the first open-hearth furnace. In 1936 the construction of the open-hearth shop with 12 furnaces weighing 150 tons each was completed. By the end of 1980-s MMK…
In 2017 MMK expects steel consumption in Russia to grow by 3.5% YoY, to 41 million tons. High-value added products consumption could grow by 1.8%, to 8.3 million tons, while imports will decrease by 1%, to 3.3 million tons. The drop in imports has to do with the imposition of duties at the request of…
PJSC Magnitogorsk Iron and Steel Works and Foundation for development of the New Technologies Development and Commercialization Center at the Skolkovo Foundation have signed an agreement to establish the MMK Research Center at Skolkovo. The agreement was signed by MMK CEO Pavel Shilyaev and President of the Skolkovo Foundation Victor Vekselberg. MMK plans to invest…
The Board of Directors of PJSC Magnitogorsk Iron and Steel Works on October 16 approved a resolution to convene an extraordinary general meeting of shareholders (EGM) with absentee voting, and approved the agenda for the EGM. Dividends on issued shares of PJSC MMK will be paid based on the results of the first nine months…
MMK has been named the best Russian employer by Forbes. The company was one of the 4 Russian companies to enter top-500 of the World’s Best Employers rating, occupying the 214th position. “Retaining the leading positions on the world metal market and demonstrating the considerable industrial dynamics, MMK has among its priorities the social responsibility”,…
In January-September MMK increased steel output by 1.9% YoY, to 9.569 million tons. Pig iron manufacture grew by 3.1%, to 7.509 million tons. Sales went up by 1.2%, to 8.759 million tons. In 2016 MMK produced 12.5 million tons of steel, up by 2.5% YoY. (Ukrainian metal)
