PJSC Magnitogorsk Iron and Steel Works will hold a Capital Markets Day in London on November 15. At the CMD, Chairman Viktor Rashnikov, INED Morgan Ralph Tavakolian and the executive management team will discuss MMK’s progress against the Company’s strategy to 2025. The presenting team will include: Viktor Rashnikov, Chairman of the Board of Directors,…
In the first half of 2019 MMK Group allocated 1.04 billion rubles to social support programs and charitable causes. Among the priority areas of social support were assistance to pensioners and children, as well as the improvement of health conditions for the employees of the company. The full range of social and charitable programs implemented…
Magnitogorsk Iron and Steel Works (MMK) was awarded a certificate by the United Nations Industrial Development Organisation (UNIDO) for its contribution to sustainable development and environmental initiatives in the Chelyabinsk region, as well as for the successful implementation of its “Energy Management of Industrial Enterprises” program. UNIDO is a specialized agency of the United Nations,…
Magnitogorsk Iron and Steel Works (MMK) delivered more than 314,000 tons of steel products to the automotive industry in the first half of 2019, exceeding the previous year’s figure for the same period by 23%. The share of shipments to the automotive industry in the first six months amounted to 7.5% of MMK’s supplies to…
OMZ-Spetsstal has concluded a contract with MMK to produce rolls for the plate-rolling mill-4500. The contract provides for the manufacture of 4 supporting rolls with the weight of 52.3 tons, the length of around 7 meters, the barrel diameter of 1250 mm and the length of 4500 mm. The rolls have to be produced of…
Deloitte CIS has completed an assessment of MMK’s digital maturity and transformation potential as part of MMK’s digitalization strategy. The joint team applied Deloitte’s global experience to analyze MMK’s current digital initiatives and future potential. Currently, as part of the company’s Industry 4.0 initiative, MMK is implementing more than 20 projects, dozens have been completed…
The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) fell by 25.9% YoY, to $497 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 1. Revenue went down by 7.8%, to $3.835 billion in the period. Earnings before interest, taxes, depreciation, and amortization…
Magnitogorsk was removed from the list of Russian cities with very high levels of air pollution, according to a report by the Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet) in 2018. Thanks to MMK’s large-scale environmental program, the Comprehensive Air-quality Index (CAI) indicator for the city will have been reduced to a low level…