At two plate-rolling workshops of Magnitogorsk Iron and Steel Works (MMK), a new digital system has been put in operation to monitor the number of cars that are in commercial operation. The system will allow for rapid identification of violations during work with rolling stock and significantly improve the efficiency of shipment unloading. In the…
Magnitogorsk Iron and Steel Works (MMK) participated in the international exhibit of metallurgical technologies METEC 2019. At the MMK stand, the visitors were able to familiarize themselves with a wide range of products and technological capabilities of one of Russia’s largest metallurgical companies. As a result of a large-scale technical re-equipment in recent years, MMK…
Magnitogorsk Iron and Steel Works (MMK) shipped 181,070 tons of long products to consumers in May, which was a record figure of monthly shipments of this type of product since the launch of the existing units of the long shop. The previous record figure was 172,000 tons of long product shipments, which was reached at…
Magnitogorsk Iron and Steel Works (MMK) took fifth place in the global 2019 Value Creators rankings among metals companies with the highest return on investment, compiled by international consulting company Boston Consulting Group. The rankings’ methodology is based on total shareholder return (TSR) generated in the past five years. Five-year TSR for MMK shareholders from…
Magnitogorsk Iron and Steel Works (“MMK”), one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year $500-million Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue…
Magnitogorsk Iron and Steel Works (MMK)’s Industrial Park ranked 30th in the Investment Attractiveness Rating of Industrial Parks and Special Economic Zones according to media group Expert. In 2018, MMK Park rose by 17 places in the rating, changing the project from a “BB” attractiveness rating (for parks that are quite attractive, but require improvements…
Magnitogorsk Iron and Steel Works (MMK) has signed a contract with ETM on supply of electrical equipment. The contract allows MMK to order equipment directly through the ETM iPro Internet platform, which will significantly save procurement time and increase the efficiency of the company’s supply system. The agreement with one of Russia’s leading professional distributors…
Magnitogorsk Iron and Steel Works (MMK) saved 500.9 million rubles in 2018 through the use of a mathematical model to optimize the delivery and consumption of coal. These savings were achieved by improving the structure of coal charge and the quality of coke. This model is part of MMK’s large-scale digitalization strategy. The program is…